This study identifies systematic determinants of some key budgetary aggregates in transition and OECD economies. Because of the lack of theory on public expenditure, the study is empirical. We use three approaches: regression analysis, non-parametric efficiency analysis, and construction of a...

By the end of the 1980s, the degree of the suppression of free thought in the USSR has diminished appreciably. As a result, various independently developed solutions to a multifaceted Soviet crisis were put forward. The Baltic states /Lithuania, Latvia and Estonia/ have been leading the way in...

The purpose of this paper is to analyse the economic implications of the bankruptcy procedures in Western market economies with a view to draw appropriate lessons for the transitional economies of Central and Eastern Europe. In Section II, we shall discuss the bankruptcy procedures in four major...

On 1st January 1993, the independent Slovak Republic (SR) began to exist. During 1993 a democratic political system was created. It is a parliamentary democracy with a president at its head. The functions of the president were created and instituted, the Constitutional Court and Supreme...

This volume presents six monographs of currency crisis episodes in two Latin American countries in 1994-1995 (Mexico and Argentine) and four Asian countries in 1997-1998 (Thailand, Malaysia, Indonesia, and Korea). The Asian part of this volume is supplemented with a short comparative note,...

The identification of a possible European business cycle has been inconclusive and is complicated by the enlargement to the new member states and their transition to market economies. This paper shows how to decompose a business cycle into a time-frequency framework in a way that allows us to...

This study evaluates the effects of the current Euro-Mediterranean Free Trade Agreement for the EU and the Mediterranean region, in order to assist policy makers in defining the next steps in the Euro-Mediterranean Road map till 2010 and beyond. It provides quantitative, qualitative and sectoral...

The project intended to explain the causes of high structural unemployment in Poland. It is generally believed that the high level of unemployment in Poland is determined to a decisive degree by factors such as a restrictive labor code, high degree of unionization and/or the unemployment...

This volume contains the output of country research undertaken in Slovenia in 2000-2001 by a team directed by Andreja Bohm and Marko Simoneti under the international comparative project "Secondary Privatization: the Evolution of Ownership Structures of Privatized Enterprises". The project was...

The banking sector in transition economies deserves a special attention of policy makers and the public. The first reason for this attention is that financial intermediation plays a special role in an economy: it channels financial savings of enterprises and households into investments. There is...