The analysis presented in the paper focuses on seigniorage revenues in the period of transition to market economy and fiscal consequences of European monetary integration. A comprehensive framework for a measurement of seigniorage revenues in transition period is presented and estimates of its...

Foreign direct investment (FDI) brings host countries capital, productive facilities, and technology transfer, as well as new jobs and management expertise. Thus, it is important to understand why in many transition countries FDI inflow is lower than expected. The goal of this study is to...

This paper develops a theoretical framework in which the impact of different privatization strategies on the dynamics of the retail market in a transitional economy can be analyzed. The analysis shows that rational behavior of the monopolistic manufacturer under uncertainty of demand naturally...

The expectations of the government of Kyrgyzstan and the National Bank of Kyrgyzstan were quite optimistic. In 1996, despite of fiscal problems, further macroeconomic stabilization (i.e., reduction of the annual rate of inflation) and a stable rise of production were expected. However, as it is...

The purpose of the paper is to develop a formal method for monitoring and assessment of the process of sustainable national development. In particular, we apply cluster analysis to develop procedures of formal assessment of development gaps, and show how they can be applied for monitoring...