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High levels of economic inequality may lead to lower economic growth and can have negative social and political impacts … significantly more than previously suggested. Currently, the average Gini index (a common measure) of inequality in Eastern Europe … is about 3 percentage points higher than in the rest of Europe. This rise in inequality was initially driven by …
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In this paper, we study the role of institutional quality in the cyclicality of macroeconomic policies of transition economies. Using annual data over 1996-2013, we find that the quality of institutions play a significant role in their ability to carry out counter-cyclical macroeconomic policy....
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Identification of the entrepreneur's economic function has engaged economistsfor more than 200 years. In this paper we address the issue of entrepreneurship intwo distinct ways: a) as it has historically developed within the field of economicsand b) as it develops in the transitional context. In...
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