This article explores the post-communist worlds of welfare capitalism in Central, Eastern and South Eastern Europe, including the successor states of the former Soviet Union. It discusses recent developments, whilst offering some additional theoretical reflections on the key factors that have...

This paper presents a model of soft budget constraints (SBC) in a bank lending relationship, emphasizing the role of institutions in shaping the SBC phenomena. The model allows two types of SBC to emerge according to specific constellations of parameters: the SBC as a dynamic commitment problem...