From 1995 to 2001 Russia witnessed an asset market boom, a deep financial crisis, and a surprisingly forceful recovery. An event study of this episode provides important insights for Emerging Market investment and Russia's medium-term prospects. The initial surge in bond and stock prices in...

This paper reviews financial stability challenges in countries preparing for EU membership, i.e. Albania, Bosnia and Herzegovina, Kosovo*, Iceland, the former Yugoslav Republic of Macedonia, Montenegro, Serbia and Turkey. The paper has been prepared by an expert group of staff from the European...

Sustainable growth in catching-up countries requires the widening of the foreign trade bottleneck. It is however not clear whether two prescriptions aiming at solving this problem greater exchange rate flexibility and the liberalization of the capital market, are in reality not contradictory....

Die Krise in der Türkei ist überwiegend selbst verschuldet und hat nur oberflächlich mit den verschärften US-Handelssanktionen zu tun. Zahlreiche expansive wirtschaftspolitische Maßnahmen trugen zwar dazu bei, einen anhaltenden Wirtschaftseinbruch nach dem Putschversuch im Juli 2016...

This paper reviews and assesses financial stability challenges in countries preparing for EU membership, i.e. Albania, Bosnia and Herzegovina, Kosovo1, the former Yugoslav Republic of Macedonia, Montenegro, Serbia and Turkey. The paper focuses on the period since 2014 and on the banking sectors...

This paper reviews and assesses financial stability challenges in countries preparing for EU membership, i.e. Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia and Turkey. The paper mainly focuses on the period since 2016 (unless the analysis requires a longer time...

This report gives an overview of patterns of structural change in Central and Eastern European economies over the decade 1989-1999. The analysis in this paper is restricted to a sub-sample of transition economies, namely the countries of Central and Eastern Europe (CEECs) - with the exception of...

The paper analyses economic inequality in Croatia in comparison with other transition economies of Central, East and Southeast Europe. It comprises a literature review and a descriptive analysis as well as an econometric modelling exercise. The main findings are the following Over the entire...

The aim of this paper is to examine the issues of gender disparities in the Commonwealth of Independent States (CIS) region, with a special focus given to countries covered by the European Neighbourhood Policy (ENP)1. The analysis is conducted in several dimensions: labour participation,...

This paper aims to explore the factors influencing the ability of firms to compete in globalised markets. The Austrian and evolutionary economics and the endogeneous growth literature highlight the role of innovation activities in enabling firms to compete more effectively - and expand their...