The transition to market-based economic systems in the countries of Central and Eastern Europe and the former Soviet Union involves fundamental shifts in the allocation of resources and deep changes in the structure of production and employment. This paper uses a simple model of economic...

Improvements in productivity is necessary to effectively increase economic growth in the long term.The literature emphasises a positive correlation between firm-level innovation and productivity gains, although evidence for developing countries has been less conclusive. It is unsurprising then,...

At the crossroad of Europe and Sub-Saharan Africa, the Atlantic and the Mediterranean, Morocco is a key partner of our institutions. Morocco is rich in history and tradition, economic and human resources. The emergence of a dynamic and broad-based private sector can become a powerful driver of...

Wide-ranging reforms linked to Georgia's EU aspirations have strengthened its economy and improved living standards. Nevertheless, further reforms are still needed and the Covid-19 pandemic has had a big impact on the hospitality sector, which has been a key driving force behind the country's...

Entrepreneurial activity is a key contributor to economic growth, innovation and the development of a market economy in transition countries. Data from the Life in Transition Survey reveal that financial sector development and access to credit are the most important drivers of entrepreneurship....

After Lehman Brothers filed for bankruptcy in September 2008, cross-border bank lending contracted sharply. To explain the severity and variation in this contraction, we analyse detailed data on cross-border syndicated lending by 75 banks to 59 countries. We find that banks that had to write...

In this paper we document how the unequal liberalisation of business regulation across Russia’s regions leads to varying effects on the diversification of Russia’s economy. We find that national liberalisation laws were better enforced in those regions with more transparent government. As a...

The protection of property rights is more and more recognised as a core issue for improvement of the investment climate in Russia. In many post-privatisation Russian enterprises, shareholder rights have been severely disregarded by self-dealing transactions of the management, share dilution,...

This paper examines the main policy and structural determinants of the intensity of competition at the enterprise level across transition economies, presenting new evidence based on an enterprise-level survey and a legal survey directed to both competition agencies and legal experts in the area...