This paper examines the elements of institutional development critical to the enhancement of company performance in transition economies. This includes initial conditions, forms of privatization, institutional frameworks and the competitiveness of markets. Comparing empirical evidence, this...

More than fifteen years after the fall of the Berlin Wall, many issues regarding the transition from a centrally planned economy to a market economy are still being debated. This book presents an evaluation of the transition in Central Eastern Europe, and focuses on the socialist legacy, the...

This book covers a wide variety of aspects of transition in Central and Southeast Europe and the CIS, including the socialist legacy, privatization and growth, skills, and banking reforms. It also covers the evolution of the global economy beyond transition, looking at complexity, risk...

Chapter 1. An introduction to the Collected Works of Domenico Mario Nuti, Saul Estrin and Milica Uvalic -- Part I. Evolution of economic systems -- Chapter 2. Capitalism, socialism and steady growth -- Chapter 3. The degree of monopoly in the Kaldor-Mirrlees growth model -- Chapter 4. V. K....

Many of the states of the former Soviet Union have experienced a dramatic collapse of output during transition, which has not yet been reversed in a sustainable way. The economics of disorganization, proposed by Blanchard (1997) and tested empirically by Blanchard and Kremer (1997), reasons that...

1. The degree of monopoly in the Kaldor-Mirrlees growth model -- 2. Capitalism, socialism and steady growth -- 3. Introductory essay to V. K. Dmitriev -- 4. Michal Kalecki's contributions to the theory and practice of socialist planning -- 5. Kalecki and Keynes revisited -- 6. Socialism on earth...

In many transition economies, insiders controlled state-owned firms, de facto. For such firms, we model the decision about privatization method, focusing on the choice between free distribution (so called 'mass privatization') and management-employee buyouts. We incorporate a political...

In their privatization programs, transition governments have frequently given away shares (so-called `mass privatization'), while maintaining significant minority ownership. We explain the rationality of these policies for an expected net-revenue maximizing government. Our argument rests on a...