This paper studies the effect of religious and linguistic diversity in a given locality on individual entrepreneurial behaviour, and finds that cultural diversity and entrepreneurship follow an inverted U-shaped pattern. We make three theoretical contributions. Unlike previous research, we are...

We investigate the impact of cross-border takeovers on the performance of target banks in Ukraine. We combine propensity score matching and a difference-in-difference methodology, checking for temporary unobservables. Acquirers mainly targeted large less-capitalised banks with average efficiency...

This paper analyses the anti-corruption activities of 24 transition countries in the period 1999-2002. These activities are divided into omnibus anti-corruption programmes, legislative reform aimed at tackling corruption, and adherence to international anti-corruption conventions. The paper...

To understand the transformation of banking in the post-communist transition, this paper examines the cost efficiency of 289 banks in 15 east European countries. The findings showed that banking systems in which foreign-owned banks have a larger share of total assets record lower costs and that...

This paper provides an overview and discusses key findings of the 2002 Business Environment and Enterprise Performance Survey (BEEPS), implemented jointly by the EBRD and the World Bank. (The first round of the BEEPS was implemented in 1999.) Four important conclusions arise from the analysis....

Following the collapse of planning, new small and medium-sized firms rapidly emerged in all transition economies. Using firm level data, we investigate the interaction between the widespread opportunities for new business activities such firms faced and their business environment. The business...

L11, O12, P31. </AbstractSection> Copyright Mitra et al.; licensee Springer. 2014

The avar routine (Baum and Schaffer, SSC) constructs the "filling" for a number of flavors of "sandwich" covariance matrix estimators, including HAC, one- and two-way clustering, common cross-panel autocorrelated errors, etc. We show how avar can be used as a building block to construct VCEs...

We extend our 2003 paper on instrumental variables (IV) and GMM estimation and testing and describe enhanced routines that address HAC standard errors, weak instruments, LIML and k-class estimation, tests for endogeneity and RESET and autocorrelation tests for IV estimates.