The concept of privatization has been deepened due to the liberalization progress in the world economy since the beginning of 1980's. In order to slip out of the great depression period in 1929, the share of government activity in economy and government intervention has been increased and this...

The purpose of this paper is to analyze the impact of trust-based relations on firm’s performance in transition economies. The trade credit variable is used as a proxy of trust-based relations and the propensity score matching method is employed to establish casual link between relational...

В статье анализируется влияние формальных экономических институтов на развитие постсоциалистических стран. Акцент делается на необходимости разграничения...

We use focused interviews with managers of foreign parent banks and their affiliates in Central Europe and the Baltic States to analyse the small-business lending and internal capital markets of multinational financial institutions. Our approach allows us to complement the standard empirical...

This paper is about relationship between official development assistance, foreign direct investment and domestic investment in landlocked and less studied young economies of Central Asia. It is important for donor countries to understand whether their investments induce foreign direct investment...

In this paper we introduce additional parameters of the economic environment related to some notion of “distance” to institutions in a simple formal model. This distance could be viewed as an uneven spatial distribution (or coverage) of institutions with respect to population distribution....

This paper extrapolates the patterns and volume of business development within the Western Balkans region. This is a war-torn area with social, cultural, religious and political specificities. Despite noticeable institutional and growth progress of the individual countries, regional business is...

What is the level of accumulated human capital in an economy in transition? Does education determine labour income in transition economies? In this study we try to answer these questions using data on 148,942 employees in 13 economic activities in Bulgaria. In the first place, we refer to the...

After most restrictions on foreign currency holdings were relaxed in the early 1990s, foreign currency deposits in transition economies have been increasing rapidly. This paper takes a first look at the evidence on dollarization for 15 transition economies, and then discusses some key conceptual...