Political economy literature acknowledges the importance of democratic learning and of fiscal rules in preventing politically driven deficits. This paper investigates the role of these factors for the Political Budget Cycles in the ten Central and East European (CEE) countries from 1990 to 2010....

It was not possible to test the neoclassical convergence theory on communist countries until the collapse of communism. The method of beta convergence indicates divergence among the liberated countries of Southeast Europe from 1980-2006. A more advanced quantile regression also indicates...

It was not possible to test the neoclassical convergence theory on communist countries until the collapse of communism. The method of beta convergence indicates divergence among the liberated countries of Southeast Europe from 1980-2006. A more advanced quantile regression also indicates...