This paper investigates the importance of firm size with respect to access to credit relative to firm performance, and other factors which may affect creditworthiness such as management education, location, or the industrial sector to which the firm belongs. The principal findings are that size...

This study reviews the recent developments in capital markets and institutional investors in Russia, and examines the policy challenges ahead for the development of the sector. The analysis covers key impediments for further development and policy challenges for securities markets, in particular...

This paper assesses the role of non-bank financial institutions and capital markets in the financial sectors of the eight first-wave of Eastern European EU accession countries (the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia), the current state of...

This study assesses key issues and recommendations for development, and reviews the specific changes which are necessary in four areas: structural reforms, market institutions, and infrastructure; accounting, transparency, and disclosure; market infrastructure; and credit enhancements. With only...

Subnational governments are an important part of the public sector in the EU8 countries. They provide basic public services in both the social sectors (education, health, and social assistance) and in infrastructure (water supply, sewerage and transport). They account for about one-quarter of...

The main objectives of this study, Health care spending in the new EU member states: controlling costs and improving quality, are to take stock of recent trends in health expenditure aggregates in the public sector and to identify specific areas of reform consistent with the objectives of...

This report explores the fiscal aspects of vocational education reform in the context of secondary education as a whole and considers the implications of any changes in the vocational education (VE) system for post-secondary and other modes of skill development. The report begins by describing...

The purpose of this paper is to compare the European Union (EU) and United States (U.S.) securities regulations. In November 2007, the market in financial instruments directive 2004/39/EC (MiFID) came into force in the EU, and brought about deep changes in the market infrastructure. The same...

This study argues that adoption strengthening of a competition law regime is a key component of the regulatory reforms, which are required to allow a market economy in the Mediterranean region. It also argues that the competition rules inserted in the Association Agreements signed between the...