This paper develops extensive new data on the legal independence of new central banks in 26 former socialist economies (FSE).This data is constructed using the codification system for measuring legal independence developed in Cukierman, Webb and Neyapti (1992) and in chapter 19 of Cukierman...

This paper analyzes the political economy of the reform process theoretically and empirically.Building on the framework developed by Rodrik [1995], a two-sector model of a transition economy is constructed.This model is then used to study the dynamics of political support for the reforms.The key...

Article about the prospects of regional economic governance in Russia. The author analyzes the problems and contradictions arising in the implementation of government economic policy on the basis of the methodology of general systems theory and the theory of self-organization.

Since 2010, Myanmar has been in the midst of a multifaceted transition, involving economic reforms, the resolution of multiple long-standing civil conflicts, and a nascent transition to democratic rule. These transitions are coinciding with a resource-led economic boom. Hendrix and Noland assess...

Purpose – World Trade Organization (WTO) accession marked a new beginning for China's economic, legal and institutional reforms and rapid integration with the rest of the world. The purpose of this paper is to review China's post‐WTO transition experience, synthesize and update studies on...

Purpose – The purpose of this paper is to review the importance of mass shared beliefs in shaping economies, markets, nations, and business strategies. Design/methodology/approach – The paper takes the form of an opinion column. Findings – The paper reveals that it is important to factor...

Purpose – The purpose of this paper is to measure the contribution of capital formation, labor, and technological progress to the growth of the Vietnamese economy, the impact of economic reforms ( doi moi ) since the end of 1986, and the rates of returns to capital and labor....

Purpose – The purpose of this paper is to analyse regulatory reform in the wake of the financial crisis of 2007‐2008. Design/methodology/approach – The paper proposes a framework for regulatory reform that begins with the observation that financial manias and panics cannot be legislated...