This paper examines the contemporaneous relationship between the exchange rate re-gime and structural economic reforms for a sample of CEEC/CIS transition countries. We investigate empirically whether structural reforms are complements or substitutes for monetary commitment in the attempt to...

While many observers thought it was premature for Czech Prime Minister Klaus to suggest in 1995 the transition was over except for fine-tuning , as we approach the 20th year after the fall of the Berlin Wall on Nov. 9, 1989,-and the 18th after the dissolution of the Soviet Union at Byelovezha-...

The ‘Washington consensus’ and ‘shock therapy’ approach to transition economies ignored the Keynesian lessons from the Great Depression: that market instability is a possibility and there may be an active role of government in managing stability and growth. The severe output decline in...

This paper examines the contemporaneous relationship between the exchange rate regime and structural economic reforms for a sample of CEEC/CIS transition countries. We investigate empirically whether structural reforms are complements or substitutes for monetary commitment in the attempt to...

This paper examines the contemporaneous relationship between the exchange rate regime and structural economic reforms for a sample of CEEC/CIS transition countries. We investigate empirically whether structural reforms are complements or substitutes for monetary commitment in the attempt to...