I trace the dynamic impact of removal of textile quotas in the US on output, employment and plant closure in that industry. A dynamic theoretical model of firm-level decision-making is estimated with US Census manufacturing data and with industry-level demand-side data. Simulations performed...

The stimulation of private saving is essential to both stabilization and structural adjustment in the transition economies. Private saving in these countries has declined sharply since independence, and this decline has been a factor in the onset of extreme inflation because governments have...

The author presents and implements a methodology for assessing the success of structural adjustment based on a"fixed effect"method. He examines data for 75 countries over 11 years. Performance indicators include measures of inflation, economic growth, external balance, and physical investment....

The large and widening gap between economic performance in Eastern European transition economies and those of the former Soviet Union has been dubbed “the Great Divide” by Berglof and Bolton (2002). This paper provides a rationale for the gap based upon the concept of financial repression....