This paper summarizes the evolution of labor markets and labor market institutions and policies in the countries of Central and Eastern Europe as well as of Central Asia over the last two decades. The main focus is on the evolution of labor market institutions, which are among candidate...

The aim of this paper is to test a key aspect of Baumol's theory that the allocation of entrepreneurial efforts toward its productive (e.g., start-up activity) or unproductive (e.g., rent-seeking) use depends on institutional conditions. In contrast to previous research, we study a context where...

Conservatism is one of the attributes of accounting quality. Conservatism is also one of the major reasons for international differences in financial reporting. The objective of this paper is to examine earnings quality proxied by earnings conservatism in transitional economies of Central and...

This paper surveys recent advances in the monetary transmission mechanism (MTM). In particular, while laying out the functioning of the separate channels in the MTM, special attention is paid to exploring possible interrelations between different channels through which they may amplify or...

This paper uses a Nash bargaining framework to model the causes of the partial reform equilibrium syndrome that characterizes China's state sector. The model demonstrates the nature of the bargain between the principals (i.e., officials from China's State Asset Council) and the agents (large-SOE...

This paper analyzes empirically whether individuals' decisions to start an own business can be influenced via television (TV). To identify its effect, we utilize exogenous regional variation in the availability of TV that conveyed images conducive to entrepreneurship and the notion that...

The paper tries to measure institutional change in the banking industry, taking the case of Russia in 1991-2016. I put forward a set of metrics featuring the actors and the relevance of banking for the economy. At the first stage, the communist-era credit system falls apart as do coordination...

Low spreads between loan rates and deposit rates are indicative of a more efficient financial system. We argue that spreads are better cross country measures of banking system efficiency than the net interest margins used in previous studies. We present theoretical and empirical evidence that...

This article is an overview of the current theoretical and methodological approaches to the forecasting and modelling of the innovative development of social-economic systems and structures. The innovation factor is considered to be a dominant factor of the stable development taking into account...