We investigate the determinants of sovereign CDS spreads on a sample of Eastern European data. A dynamic hierarchical factor model is used to aggregate information in indicators of economic fundamentals. CDS spreads are regressed on forecasts of factors. We find that domestic fundamentals...

Since the 2008 global financial crisis, those East European countries that had partly privatized their pension systems in the 1990s or early 2000s increasingly scaled back their mandatory private retirement accounts and restored the role of public provision. What explains this wave of reversals...

The paper examines the inflation targeting regime in the context of transition economies. Recent years have witnessed an increasing number of central banks in these countries moving towards the implementation of inflation targeting regimes. However, the success of such a regime depends largely...

The paper examines the inflation targeting regime in the context of transition economies. Recent years have witnessed an increasing number of central banks in these countries moving towards the implementation of inflation targeting regimes. However, the success of such a regime depends largely...

The paper addresses the question of macroeconomic environment and its impact on economic reforms in electricity sector of CEE countries that have become new EU Member States and SEE countries. The research is based on the thesis that macroeconomic drivers and macroeconomic context of the...

This publication is intended to contribute to the discussion on Myanmar's post-socialist economic transformation and development and to provide knowledge and expertise on successful examples of systemic transformation, such as Poland. It tries to establish how these examples can be applied in...

This paper documents the modes of organization of the budget process in ten CEEC and examines the relationship between these institutional settings and fiscal performance. Using detailed information on the budget institutions in these countries, the national budget processes are classified...

The experience of Central and Eastern European countries (CEEC) during the global financial crisis and in the resulting European debt crises has been largely different from that of other European countries. This paper looks at the specifics of the CEEC in recent history and focuses in particular...

The paper discusses the relations between fiscal policy, savings, capital formation and growth in transition economies. In the 1990s they have suffered significant recession and persistent imbalances. Fiscal policies were aiming mainly at the structural adjustment, liberalization and...

This article reviews the role of the state in the development of the transition economies in Central and Eastern Europe. Among those countries Poland is today perceived as the leader as it was the only EU economy that survived the crisis without recession. In this study we show that the role of...