This paper is a case study of what is recognized as one of the more successful projects in any country in the Europe and Central Asia region, not to mention in the poorest country of the region-Moldova. The ARIA project shows new ways to attack some of the most intractable problems of private...

This paper is a case study of what is recognized as one of the more successful projects in any country in the Europe and Central Asia region, not to mention in the poorest country of the region - Moldova. The ARIA project shows new ways to attack some of the most intractable problems of private...

Aid and conditionalities are the"carrots and sticks"of the conventional, direct approach to fostering economic development. The economic theory of agency is the most sophisticated treatment of the direct carrots-and-sticks approach to influencing human behavior. Considering the outcomes of the...

This is a survey and analysis-with commentary-of migration issues and the related development policies for the sending countries."Migration and development"is considered an unsettled and unresolved area for good reason. The policy issues are surprisingly deep and run to basic issues such as the...

Many development strategies assume (or desperately hope) that a country already has the capacity to plan and implement institutional reform or that such institutional reform can be pushed through with the external pressures of aid and conditionalities. In a decentralized reform strategy,...

A decade has passed since the privatization debates concerning Russia and the other transition economies. This note reviews literature on two issues: the overall institutional change strategy, and the alternatives to and arguments against voucher privatization. The alternative is a strategy of...

If development is seen basically as autonomous self-development, then there is a subtle paradox in the whole notion of development assistance: How can an outside party ("helper") assist those undertaking autonomous activities (the"doers") without overriding, or undercutting their autonomy? This...

The market system consists of a price mechanism, built on the foundation of a system of property, and contract. In many developing, and transition economies, the market system functions poorly. In many cases, if not most, the malfunctioning is not simply in the price system (for example,...

Common wisdom among post-socialist reformers has beento use voucher investment funds to provide the corporate governance needed to restructure newly privatized enterprises after mass privatization efforts. The idea has been that mass privatization would spread the ownership too wide and make...