Since 1989, Poland has become one of the most decentralized states in Europe. Local government now control a third of all public expenditures. They have also delivered the goods modernizing the country’s infrastructure and restructuring its schools. This success cannot be attributed to...

Russia and other countries in the commonwealth of independent states that have implemented voucher privatization programs have to account for the puzzling behavior of insiders manager-owners-who, in stripping assets from the firms they own, appear to be stealing from one pocket to fill the...