This paper examines the different strategies adopted by individuals in transition economies to cope with labour market restructuring. Using micro-data from seven countries at different stages of transition, we focus on “active” coping strategies, in particular mobility and entrepreneurship....

This paper examines the performance of 515 banks in 16 transition economies for the years 1994-99 based on their public financial accounts. We first examine lending behaviour and probability distribution of bank profitability to determine whether these banks exhibit behaviour and performance...

The paper discusses the Russian power sector reform plan, approved by the government in July 2001, which outlines the framework for competition and changes in ownership structure. The paper focuses on the following issues related to the plan: restructuring of regional energos and large...

This paper investigates the extent to which the financial sector in south-eastern Europe (SEE) responds to the needs of the local private sector. It does so through an analysis of the sources of finance used by enterprises when making fixed investments, and by looking at the level of banking...

Recent studies have focused on the characteristics and policies of the state to explain the extent and causes of corruption, with little attention paid to the role played by firms. Consequently, the links between corporate governance and national governance have been unexplored. This paper...

This paper analyses changes in the legal protection of shareholder and creditor rights in 24 transition economies from 1990 to 1998. It documents differences in the initial conditions and a tendency towards convergence of formal legal rules as the result of extensive legal reforms. Convergence...

The central European transition-accession countries experienced several periods of macroeconomic vulnerability since the end of output declines in early 1990s. Some notable periods, which resulted in a necessity to implement extensive stabilisation measures, are March 1995 in Hungary, May 1997...

Kazakhstan is at the forefront of power sector reform in the EBRD’s countries of operations. Starting in 1996, a regulator was set up, the industry was unbundled, some distribution and generation companies were privatised, and the large user market was liberalised. A number of reform...

We analyse the principal objectives and constraints of small and medium-sized enterprises (SMEs), using data from a survey of 437 owners and top managers (CEOs) of SMEs in Russia and Bulgaria. The CEOs display similar views and identify a small number of specific constraints as being the most...

Their name suggests that the multilateral development banks (MDBs) should provide finance for investments in human and physical capital that promote development. The interpretation of this broad mandate, however, has changed significantly over time. One reassessment occurred when the European...