Two rounds of EU eastern enlargement will pose difficult economic and political adjustment problems. Based on recent analysis one also finds many opportunities for both the EU-15 and the accession countries which, however, face the negative spillovers from the Russian transition crisis. The...

The break-up of the Soviet Union in 1991, following closely on the adoption of market-oriented reforms in Eastern Europe, created a new specialty within economics. The economics of transition encompass phenomena and problems from both microeconomics and macroeconomics, as economists from all...

The once booming dynamic economies in Asia were drawn into a whirlpool of business failures and economic devastation following the flotation of the Thai baht in July 1997, and the consequent collapse of asset prices and currency depreciations in several East Asian countries. High growth in these...