Building on Vinhas de Souza (and Vinhas de Souza and Tudela), this chapter briefly describes the historical process of financial liberalization and integration of Baltic and Central European Countries (BCECs) since the 1990s. It investigates the hypotheses that the type of financial integration...

The Balassa-Samuelson effect is usually seen as the prime explanation of the continuous real appreciation of central and east European (CEE) transition countries' currencies against their western counterparts. The response of a small country's real exchange rate to various shocks is derived in a...

The Balassa-Samuelson effect is usually seen as the prime explanation of the continuous real appreciation of central and east European (CEE) transition countries' currencies against their western counterparts. The response of a small country's real exchange rate to various shocks is derived in a...

Introduction -- The unexpected peacefulness of transitions -- Political quiescence despite conditions for conflict -- Preventing protests: divide and pacify as political strategy -- The great abnormal pensioner booms: strategic social policies in practice -- Peaceful pathways: the political...

"This book adopts novel theoretical approaches to study the diverse welfare pathways that have been evolving across Central and Eastern Europe. Beyond existing path dependency and neo-institutionalist explanations, it highlights the role of explanatory factors such as micro-causal mechanisms,...

Management of capital inflows has unexpectedly become a major challenge in transition economies. These countries were expected to have an insatiable demand for foreign capital, and an excess demand for capital inflows was, therefore, predicted by most observers. Foreign investors are also known...