The paper discusses the institutional arrangements of a multilateral payments union for the Commonwealth of Independent States. It starts with an analysis of the risks of a non-cooperative solution, which would lead to serious liquidity and solvency problems and thus curtail inter-republican...

The paper discusses alternative options for a future monetary order in the area of the Soviet Union. Its main focus is on two questions: Under what conditions would a common rouble currency area be compatible with fiscal discipline and effective financial control over the large numbers of...

A common phenomenon about transition economies is that the return to schooling improves as economic reform progresses. Existing research suggests that Vietnam is not an exception to the pattern. However, the rate of return in period from 1992 to 1998 is still relatively low, below 5 percent,...

Purpose – The paper aims to examine the consumption behavior of Chinese residents during economic transition. It explores whether Western theories of consumption are applicable to the Chinese situation, and then tests the hypothesis based on Chinese traditional culture and dynamic nature of...

The objective of this book is to provide policy recommendations to reduce the economic vulnerability of the poor to adverse shocks and help them cope with income downturns. The authors suggest that, social equity arguments aside, insuring the poor is desirable in terms of economic efficiency....

Petroleum resource-based city is an important part of urban system in China. Under the background of green growth and economic transition, petroleum resource-based city is facing the problem of sustainable development. This paper takes petroleum resources-based cities in China as the research...

Purpose – This study aims to examine the experiences of Vietnamese enterprises with respect to the adoption and benefits of Western management accounting practices (MAPs) during a period when the economy was in transition toward a more market‐oriented system. Design/methodology/approach –...

Purpose – The purpose of this paper is to model the Chinese unique regulation changes with the supply-and-demand analytical framework and structure the relationship between initial public offerings (IPO) underpricing and institutional changes with the comparative static method. A...