transition from communist to market oriented economies. …

Interactions between economic development and financial development are studied by looking at the roles of financial … institutions in selecting R&D projects (including both imitation and innovation). Financial development is regarded as the … development stages of an economy. At higher development stages a financing regime with ex post selection capacity is more …

Drawing on the recent literature on economic institutions and the origins of economic development, we offer a political … economy explanation of why institution building has varied so much across transition economies. We identify dependence on … building during transition. Using natural resource reliance and the years under socialism to extract the exogenous component of …

micro data on men to estimate returns to human capital under the communist wage grid and during the transition to a market … economy. We use data from the Czech Republic because it is a leading transition economy in which the communist grid remained … firms during the transition. Our estimates also indicate that men's wage-experience profile was concave in both regimes and …

communism (1989), in mid-transition (1996) and in late/post-transition (2002). We show: dramatic increases in returns to … returns to education obtained during communism vs. transition; no change in wage-experience profiles over time; and similar … the planners did; all the adjustment occurred in early transition and was driven by market forces rather than private …

private sector. The transition is shown to be costly in that it entails unemployment and a deterioration of the fiscal balance …. The interaction of fiscal constraints with the transition process is examined. It is shown that fiscal constraints may … induce the government to maintain the state sector, slowing the speed of transition, and could jeopardize the eventual …

This Paper surveys the theoretical literature on the effect of soft budget constraints (SBC) on economies in transition … centralized economies, devolution, and banking reform in transition economies. Moreover, we argue that SBC also bear on major …

The transition to market-based economic systems in the countries of Central and Eastern Europe and the former Soviet … employment. This Paper uses a simple model of economic development and structural change with technology spillovers to benchmark … structural change in the transition economies and simulate the path of adjustment from central planning. We then analyse data …