Reform of the price system is a keystone of transition to a market economy. In all Visegrad countries, competition was introduced quite successfully through price liberalisation, removal of customs barriers and reduction of subsidies. Technically price liberalisation is easy to implement: the...

Reform of the price system is a keystone of transition to a market economy. In all Visegrad countries, competition was introduced quite successfully through price liberalisation, removal of customs barriers and reduction of subsidies. Technically price liberalisation is easy to implement: the...

This paper provides a comprehensive assessment of issues related to the restructuring of large industrial enterprises in Central and Eastern Europe. The experience with industrial restructuring in the region to date suggests that policies aimed at promoting restructuring should focus on: (i)...

This paper investigates the possibility that newly emerging equity markets in Central Europe exhibit semi-strong form efficiency such that no relationship exists between lagged values of changes in economic variables and changes in equity prices. We find that such efficiency is characteristic of...

We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade (1995–2005) in the Czech Republic. During this period the integrated control potential of the state resembled a corporate pyramid. While pyramidal control was not fully...

We analyze how a set of traditional as well as new determinants affect trade among European countries over the period 1992–2008. The factors encompass variables from the areas of geography, culture, institutions, infrastructure, and trade direction. Trade is analyzed for three types of goods:...

Recent empirical studies have been searching for evidence on and driving forces for offshoring. Frequently, this has been done by analyzing gross trade flows related to offshore activities using gravity equations augmented by ad hoc measures of supply-side country differences. This paper...

We analyze the dynamics of price jumps and the impact of the European debt crisis using the high-frequency data reported by selected stock exchanges on the European continent during the period January 2008 to June 2012. We employ two methods to identify price jumps: Method 1 minimizes the...