Special economic zones (SEZs) have been touted as “tools for development”, and yet their results have often been disappointing. We explain how SEZs can be used to reform a country from a system dominated by rent-seeking to a liberalized economy, where officials derive their revenues from...

Sovereign nations grow faster than non-sovereign ones. When Pakistan ceded economic management to the IMF in the late 1980s, the turn to neo-liberalism led to 14 years of decline in long-run rate of investment and growth from which it hasn't recovered. This cost the economy an estimated $75.6...

Nach dem Zusammenbruch der sozialistischen Systeme vollzogen die betroffenen Ländern Mittel- und Osteuropas in unterschiedlichem Tempo und sequencing den Weg zu Demokratie und einer marktwirtschaftlichen Wirtschaftsordnung. Die polit-ökonomischen Probleme bei der Durchsetzung der umfassenden...

Since the beginning of transition in 1990 from a centrally planned to a market oriented economy, the performance of Poland's economy has been outstanding if we take GDP growth as our measure. It is not specific reforms that can explain this performance but the radical ("big bang") reforms at the...

This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the...

This paper investigates the institutional reason underlying the change in the trajectory of economic growth in post-reform China, and argues that the trajectory of growth was much more normal during the period of 1978-89 than in the post-1989 era. In the former period, growth was largely induced...

This paper provides the quantitative estimate of the potential growth bonus for CIS countries, and in particular EU's Easter Neighbours, that can be a result of deeper institutional harmonisation with the EU. Econometric investigation involving instrumental variable, simultaneous equation and...

This paper investigates the institutional reason underlying the change in the trajectory of economic growth in post-reform China, and argues that the trajectory of growth was much more normal during the period of 1978-89 than in the post-1989 era. In the former period, growth was largely induced...

Nach dem Zusammenbruch der sozialistischen Systeme vollzogen die betroffenen Ländern Mittel- und Osteuropas in unterschiedlichem Tempo und sequencing den Weg zu Demokratie und einer marktwirtschaftlichen Wirtschaftsordnung. Die polit-ökonomischen Probleme bei der Durchsetzung der umfassenden...

This paper provides the quantitative estimate of the potential growth bonus for CIS countries, and in particular EU's Easter Neighbours, that can be a result of deeper institutional harmonisation with the EU. Econometric investigation involving instrumental variable, simultaneous equation and...