This paper addresses whether the initial declines in the manufacturing and real wages in transition economies were anything unexpected to justify policy reversal, and whether the "often-recommended"foreign aid would have helped them curb these declines in any significant way. It answers these...

This paper examines the relationship between the official and parallel exchange rates, in three Caribbean countries, Guyana, Jamaica and Trinidad, during the 1985-1993 period using cointegration, Granger causality, and reduced form methods. The official and parallel rates are cointegrated in all...

This paper studies the validity of the Preobrazhensky's First Proposition, P1, for the centrally planned Poland during the period of 1960-1987 by testing whether the state increased its internal accumulation, investible surplus, by reducing the inter-sectoral terms of trade between agriculture...