The paper examines Hungary's experience with banking and bankruptcy reform in the period 1992-94. The first part of the paper uses enterprise-level data to show that in 1992, the same year in which the amount of classified loans in the state-owned commercial banks grew enormously, the proportion...

This paper reports the main findings from a survey of some 200 Polish firms carried out at the end of 1993. The central focus is on the relationship between different emerging forms of ownership and the extent and nature of enterprise level adjustments taking place. Four broad categories of...

Comprehensive firm-level data for Polish manufacturing show that in state-owned firms the large drop in net employment since the start of the transition in 1990 has been driven by a jump in the job destruction rate; job creation, by contrast, is located disproportionately in the private sector....

This paper analyses the adjustments of state-owned enterprises in Russia to the economic reforms started in early 1992, drawing on evidence from enterprise visits, larger enterprise surveys, and aggregate data on the enterprise sector, and making direct comparisons to comparable experiences in...

We use evidence from a survey of approximately 200 Polish state-owned, privatized, and de novo private manufacturing firms to investigate the nature and scope of enterprises-level provision of social benefits, and in particular how enterprise-level social provision is changing with transition,...

This paper presents a survey of the economy of Poland, covering both the pre-reform and developments in 1990-91. The first part of the paper outlines the basic features of the Polish economy, analyses its economic growth and performance in the communist period, and examines the market socialist...

This paper presents a preliminary analysis of the performance of the Polish state-owned enterprise sector in 1990, with particular attention to wages, output, profitability, and the contribution of enterprise taxation to the state budget. A new piece of empirical evidence presented in the paper...

This paper attempts the following two questions, both with reference to the response of the Polish economy to the stabilization and liberalization plan of January 1, 1990: why was the fall in output much larger and the inflation rate much higher than anticipated? Was the contraction of aggregate...

Pension systems and, as ratios of GDP, pension expenditures show large variation among countries. This variation reflects, above all, demographic factors and differences in the level of insurance protection, the latter tending to increase with the level of development. The focus of this paper is...

The principal novelty of this paper lies in offering explanations of changing priorities and of the stop-go-stop sequence of policies in Poland in the years 1990-1991. The paper suggests that, in the first year of the reform, achieving price stability was secondary to the following three other...