This work is part of studies conducted by the IET in the sphere of institutional changes going on within the framework of the economy in transition. Particular emphasis is placed on state-of-the-art methods of theoretic and empirical research that can reveal the influence of different...

The aim of this research paper is to analyze those external corporate governance mechanisms, which either play a practical role or give an idea about the specifics of the Russian model. In the context of general institutional issues first of all market mechanisms are analyzed, which are “in...

This work is part of studies conducted by the IET in the sphere of institutional changes going on within the framework of the economy in transition. Particular emphasis is placed on state-of-the-art methods of theoretic and empirical research that can reveal the influence of different...

The aim of this research paper is to analyze those external corporate governance mechanisms, which either play a practical role or give an idea about the specifics of the Russian model. In the context of general institutional issues first of all market mechanisms are analyzed, which are “in...

This is a Master of Science thesis, written in Croatian language. Only an abstract is available in English.Total fiscal expenditure of bank failures in the Republic of Croatia in 1996 and 1998 were no less than 27% of Croatia's GDP. This is one of the most expensive bank crises in the history of...

The existing literature on soft budget constraints suggests that firms may be subsidized for political reasons or because of the creditors' desire to recover a part of the sunk cost invested in an earlier period. In all these models hard budget constraints are viewed as being, in principle,...

This paper, based on a large sample of mid-sized manufacturing firms in the Czech Republic, Hungary and Poland, argues that the imposition of financial discipline is not sufficient to remedy ownership and governance-related deficiencies of corporate performance. The study offers three main...

This article starts with the increasing differences between Central and Oriental economies since the beginning of the transition process. The countries that are most favorable to Foreign Direct Investment (Hungary, the Czech Republic and to a lesser extent Poland) enjoy better results than the...

Central European countries highlight the importance of institutions as they are of somewhat different nature in this diverse group of countries, given their different history. Briefly, before World War II there was a market economy in place in Central Europe – as opposed to most Eastern...

This paper deals with the economic impact of transition in Eastern Europe and the CIS. As a whole, the results are surprisingly bad with most of the countries still under the per capita income of the beginning of the transition, ten years after. We put the poor macroeconomic performances of...