Throughout Central and Eastern Europe (CEE), there is a widespread failure of enterprise debtors to make scheduled payments of principal and interest to creditors, who in turn have strong incentives not to declare bankruptcy. In such circumstances, the price mechanism does not properly guide the...

Widespread concern has been expressed that the costs of reducing environmental pollution in Eastern Europe will divert resources that would otherwise be available for industrial modernization. In fact, apart from a number of severely damaged areas, the general level of exposure to major...

This paper applies the methodology and the empirical results derived from the `endogenous growth literature' to the East European countries. From that baseline, we analyse the solvency of Eastern Europe by calculating a `growth-adjusted-debt-per-effective-capita' measure of the burden of debt in...

A prominent feature of international trading relations since 1970 has been the spread of quantitative restrictions on imports. This paper describes initial work to quantify and assess the economic effects of such nontariff barriers (NTBs), taking as a case study the United Kingdom footwear...