This paper discusses the mechanisms of corporate governance in a centrally planned economy, following Kornai’s classical work on the Socialist system. We evaluate the role of different co-ordination mechanisms used in central and east European countries. A critical analysis of the five...

Since the introduction of the euro in January 1999, exchange rate stability at the periphery of the euro area is growing. The paper investigates the impact of exchange rate stability on growth for a sample of 41 mostly small open economies at the EMU periphery. It identifies international trade,...

This paper reviews the economic, monetary and financial relations between the EU and the euro area and a set of countries in a broad set of neighbouring regions. The 80 or so countries are mostly classified as transition, emerging or developing economies and belong to four main regions: the...

Under socialism, women in Eastern Europe and the Soviet Union fared relatively well in the labor market: female-male wage differentials were similar to those in Western Europe and the United States, and female labor force participation rates were among the highest in the world. Have women in...

This paper assesses whether the exchange rate pass-through in transition economies changed due to inflation targeting and the ongoing crisis. The economies of Central and South Eastern Europe and the Commonwealth of Independent States, of which nine are inflation targeters, are examined over the...

There have been numerous empirical studies of privatization programs, which have found efficiency gains to firms, industries, and financial markets in a multitude of developed and developing economies. Central and Eastern Europe and the Former Soviet Union are conspicuously and consistently...

Many recent studies have looked at the macroeconomic, cultural and institutional determinants of corruption at the cross-national level. This study complements these existing cross-country studies by focusing on firm-level evidence of microeconomic factors affecting bribes paid in a single...

While China shared many systemic, initial conditions with the transition economies of Central-East Europe (CEE) and the Commonwealth of Independent States (CIS), it had a more agricultural economy and a more stable political-economic system than many CEE and CIS countries. Unlike most of the CEE...