belief of the audience, which generates a sample selection problem. This paper experimentally studies how people form beliefs …

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 … informational spillovers with respect to economic reforms. -- reform ; transition ; institutions ; uncertainty ; spillovers …

We investigate the effects of economic crises on the subsequent economic performance, economic reform, democratization … economic reform, economic growth and, with a delay, on investment and institutional change. Episode of high inflation, moreover …, translate into lower subsequent inflation. Crises thus appear to serve as catalysts of reform and institutional change and lead …

worse than Western ones, but this gap gradually closes over the decade following Reunification. The slow convergence stems …

The forces of the market and systems competition bring about economic and social convergence in Europe. There is no … economic convergence. National welfare states will be threatened by the free migration of people in Europe. The race to the …