This paper focuses on the measurement of a contemporaneous currency crisis. The analysis covers 14 "emerging" or "transforming" economies that experienced episodes of currency crises over the last decade. It adds to well-known examples relatively littleknown evidence on the crisis depth in some...

The full-scale financial crisis in Russia erupted in August 1998 made a blow to the President Lukashenko domestic and foreign policy. However, a year-by-year worsening of the domestic economy due to maintaining a system of command economy led to a crisis in Belarus already in the first quarter...

The paper looks at linkages between MDGs and PRSPs in six transition countries: Armenia, Azerbaijan, Georgia, Kyrgyz Republic, Mongolia, and Tajikistan. Progress towards MDG attainment in all these countries is considered. Key features of PRSPs in the countries of the sub-region are analyzed....

Implementation of the European internal market and East-West integration has been accompanied by dramatic change in the spatial distribution of economic activity, with higher growth west and east of a longitude degree through Germany and Italy. In the east, income growth has been accompanied by...

This paper discloses major developments of Ukrainian foreign trade for the recent years, shows the behavior of main factors which influenced foreign trade, presents results of modeling as well as short-term forecasts. In this paper we describe the structure of Ukrainian merchandise trade,...

The paper presents a formal study of how risk aversion can be applied to analysis of international trade. It seeks to illustrate, amongst other things, that risk-averse firms operating in perfectly competitive markets with uncertainty of demand tend to diversify markets and that this provides...

Financial sector development in Central and Eastern Europe has proved to be a very dramatic process characterized by some well trumpeted success stories but even moreso by many unexpected collapses of seemingly decent institutions and some systemic meltdown as well. The overall record of...

Foreign direct investment (FDI) brings host countries capital, productive facilities, and technology transfers, as well as new jobs and management expertise. Thus it is important to understand why in many countries FDI inflow is lower than it would be expected. The goal of this study is to...

In this paper I investigated the driving factors of integration of emerging capital markets into the global market. First, I analyzed the level of integration/segmentation of selected Central and Eastern European (CEE) countries using the methods of correlation analysis, cointegration, and CAPM....

The paper is concerned with the impact of market research prior to integration, on the structures of noncompetitive industries in integrated economy. The analysis focuses on separated, single commodity, monopolistic markets with stochastic demand. Monopolistic firms are considered in dynamic...