Hedging strategies represent basic instrument used toward eliminating financial risk. Increasing volatility of financial markets and their globalization also lead to higher financial risks. These aspects are especially important for transitional and small open economies. The basic goal of the...

The paper provides an introduction to essays published in this volume, which focus on nominal and real convergence in transition countries. The paper is based on the idea that the process of convergence can, to a large extent, be viewed via developments in real exchange rates. Key issues...

Privatization of the Czech banking sector was not an ideal process. Many errors and failures could be mentioned. The role of national banking for the raising of national entrepreneurial class was overvalued. There was also a broad naiveté about a great interest of potential investors. Also the...

Práca sa zaoberá analýzou ekonomického rozvoja Čínskej ľudovej republiky od zavedenia hospodárskych reforiem ako aj súčasnými výzvami čínskeho modelu. Prvá kapitola popisuje rast HDP v ČĽR od zavedenia reforiem a obdobia vlády jednotlivých čínskych vodcov. Druhá kapitola...

The article outlines the historical roots of bonds and bond-market institutions in the Czech Republic. The survey begins in early 20th century, during the Habsburg monarchy, carries through the First Republic of Czechoslovakia and the preceding post-Second World War socialist era, and culminates...