This paper describes the impact of the global crisis on China, the central and local level government responses and preferences it triggered as well as the consequences these reactions had on national and regional levels. It focuses on the immediate economic and general systemic reasons of the...

We apply the set up of limited commitment model to empirically test the role of informal risk-sharing networks using panel data on informal credit transactions from rural Ethiopia. The empirical estimates provide convincing evidence for the belief that enforcement problem limits the direct role...

Privatization in Estonia has produced varied ownership configurations. This enables hypotheses on the productivity effects of different ownership forms to be tested. Findings are based on fixed effects production function models and are estimated using a large, random sample of firms. Depending...