CEECs are characterised by a significant presence of foreign banks and by a marked dependence upon financing from foreign bankers. We show that this situation leaves these countries open to two types of financial risk, which have grown throughout the present decade. The first relates to the...

This article examines the impact of the banking sector development on households’ saving dynamics in the emerging economies of Eastern Europe. For this purpose, we use the mean group FMOLS estimator to estimate the saving function augmented with variables characterizing three dimensions of the...

CEECs are characterised by a significant presence of foreign banks and by a marked dependence upon financing from foreign bankers. We show that this situation leaves these countries open to two types of financial risk, which have grown throughout the present decade. The first relates to the...

Foreign Direct Investment (FDI) inflows are of crucial importance to the process of transition from a planned to a market economy for the Central and East European (CEE) countries in the global marketplace. This paper explores specific obstacles that foreign investors and foreign Multinational...

The article explores the conceptual dynamics set into motion by the encounter between the policy prescriptions inspired by the mainstream economics and the very concrete reform experience after 1989. The raise of the new institutionalism is discussed as one of the most significant reactions and...

Post-communist Europe provides a rich context to examine the role of governmental policies in entrepreneurial activity. While transitional economies shared similar experiences during their journey to a market economy, one is able to see differences in their approaches. This qualitative study...

A successful transition process may be treated as a tool for the economic development of a country. There is a common consensus that the implication of a market-oriented transition might be deemed as a political development because of the robust relationship existing between the political and...

This paper reports the first empirical evidence that fiscal reform efforts in transition countries have positive effects. Using the EBRD BEEPS I and II data, reported in 1999 and 2002, rigorous econometric models are estimated showing that the share of bribes paid to tax collectors is reduced in...

A large number of countries have recently experienced competitive shocks: sudden increases in the role that market forces play in determining the evolution of various industries. In this paper, we study the implications of Poland's competitive shock for three elements of the structure of that...

The aim of the paper is to provide an alternative explanation of current flows of FDI to the various Eastern European Countries. The aim is to enrich the current literature on economics of transition with a different perspective. Thus, the author argues that the current situation is a reflection...