Vietnam has gone through massive economic restructuring from a socialist command economy to market-oriented economy. This provides an excellent example of a country that has experienced changes in competition regime. Economic reforms in late 1980s and 1990s and the introduction of...

This paper designs an index of socio-economic development in Russia following the break-up of the Soviet Union in 1991. The purpose of this index is to act as a measure of a regions' economic potential for the purpose of regional comparison and also to help policy makers in designing future...

Declining general trust has become a serious social issue in China in recent years. This paper attempts to understand and analyze this social phenomenon from a social interaction perspective. Based on a repeated prisoners´ dilemma game on networks, it finds that the evolution of general trust...

After completing the painful transition of the 1990s, former communist countries enjoyed a period of rapid economic growth which was underpinned by three groups of factors: (i) benefits of market reforms and transition-related restructuring in the 1990s; (ii) increasing participation in the...

The economic success of the People’s Republic of China (PRC) over the last 3 decades has brought with it new challenges. Rising wages and population aging mean that future growth needs to rely more on productivity improvement through industrial upgrading and innovation, and transition from...

The breakdown of the communist regime in Eastern Europe marked a historical event for countries on both sides of the iron curtain. Applying the recently released EU KLEMS database on sectoral growth and productivity measures, we study the period after the transformational recession 1995-2004 for...

The purpose of the paper is to present a real option valuation (ROV) model that will help to measure the value of managerial flexibility. The value of managerial flexibility appears to play a pivotal role nowadays, given the transition nature of Latvian economy. There are few academic works on...

We study bank discrimination against private firms in transition countries. Theoretically, we show that banks may discriminate for non-profit reasons, but this discrimination diminishes with a bank’s incentives and human capital. Employing matching bank-firm data from China, we empirically...

We compare several income distributions in urban China in the late 1980s and mid-1990s using tests for stochastic dominance in order to decompose gender differentials. Examination of the entire distribution gives insight into the uniformity of such differentials across the distribution....