Showing 1 - 10 of 12
The transition paths from plan to market have varied markedly across countries. Central and Eastern European and the …, rapidly narrowed the productivity gap with advanced economies. In contrast, in countries of the Commonwealth of Independent … States, which embarked on reforms later and contented with less depth, the productivity gap remains substantial. While the …
Persistent link: https://www.econbiz.de/10010273819
economic convergence may push up inflation rates in transition economies. Cyclical effects and regulated prices are found to be … exchange rate plays a prominent (but declining) role in transition economies. …
Persistent link: https://www.econbiz.de/10010264234
The introduction of the 2006 Norwegian shareholder income tax was announced in advance, and it increased top marginal tax rates on individual dividend income from zero to 28 percent. We document strong timing effects on dividend payout on a large panel of non-listed corporations, with a surge of...
Persistent link: https://www.econbiz.de/10010264543
ARCH modelling framework of Engle (1982) and its GARCH generalization of Bollerslev (1986) gave a huge impetus to econometric model building in the field of financial time series with time-varying variance. The main idea of the models was to describe the most typical features of capital markets...
Persistent link: https://www.econbiz.de/10010270556
A major theme in accounts of the transitional recession and delayed convergence in post-communist economies is the role of institutions. Yet via unification, East Germany had immediate access to credible, high quality institutions. This paper argues that success in a capitalist economy depends...
Persistent link: https://www.econbiz.de/10010274948
We investigate the effects of economic crises on the subsequent economic performance, economic reform, democratization and institutional change. Our analysis is based on a sample of post-communist countries, most of which experienced severe economic crises during the 1990s. We find that the...
Persistent link: https://www.econbiz.de/10010280828
Reforms often occur in waves, seemingly cascading from country to country. We argue that such reform waves may be driven by informational spillovers: uncertainty about the outcome of reform is reduced by learning from the experience of similar countries. We motivate this hypothesis with a simple...
Persistent link: https://www.econbiz.de/10010281046
Following the collapse of planning, new small and medium-sized firms rapidly emerged in all transition economies. Using … formerly planned economies with those in economies outside transition, we document not only the challenges faced by transition …
Persistent link: https://www.econbiz.de/10010288245
between democratic quality and human stature. The results indicate that the transition to democracy increased average male …
Persistent link: https://www.econbiz.de/10012052807
A major characteristic of the European Union is its transitional or evolving nature, in particular with regard to the assignment of powers between the two main levels of government. More precisely, under current constitutional arrangements, this evolving nature takes the form of an integration...
Persistent link: https://www.econbiz.de/10010325621