This paper examines the determinants of financial flows between the federal government and regional authorities in Russia. The main question is to what extent intergovernmental transfers correspond to the ‘ideal pattern’ – equalisation of the abilities of the regions to provide public...

This paper starts by separating the transformational recession (reduction of output in most transition economies in the first half of the 1990s) from the process of economic growth (recovery from the transformational recession) in 28 transition economies (including China, Vietnam and Mongolia)....

As compared to other Russian regions, the Far East regions do not perform differently in terms of output and investment change. Initial conditions (resource advantages) and the strength of the institutions (the ability of the authorities to contain investment risk and shadow economy and to...

The conventional explanation for the dynamics of output during transition is associated with “good” and “bad” economic policies, in particular with the progress achieved in the liberalization, as measured by the liberalization index, and with the success or failure in macroeconomic...

The type of financial system that emerges in transition economies is a result of path dependent development with an outcome determined primarily by two factors: the chosen model of privatisation and the degree of concentration of the banking system. Due to the specifically transitionary nature...