This article examines the entrepreneurial activity at open-air markets (OAMs) in post-socialist countries. Based on interviews and observations of 65 traders at the largest OAM in the Baltics, we address the following questions: (a) To what extent can these traders be considered productive...

This article discusses property rights, corporate governance frameworks and privatisation outcomes in the Central-Eastern Europe and Central Asia (CEECA) region. We argue that while CEECA still suffers from deficient 'higher order' institutions, this is not attracting sufficient attention from...

This article examines the determinants of short-term wage dynamics, using a sample of large Hungarian companies for 1996-99. We test the basic implications of an efficient contract model of bargaining between incumbent employees and managers, which the data do not reject. In particular, there...

The purpose of this article is to compare economic discussion on privatisation, expected privatisation outcomes and actual results in Poland. First it discusses the privatisation of state enterprises in the broader context of the economic transformation programme designed and introduced at the...