Growth regressions have provided important insights into the impact of economic reforms on growth in transition economies.Using principal components to decompose reform variables and construct reform clusters, we address unsettled issues such as the importance of sequencing and reform speed.The...

Transformation to some market approaches in North Korea is of highest importance for more economic cooperation on the Korean peninsula. Kim Jong-uns's Byungjin policy, a new ideological approach announced in 2011, gave some hope for such reforms. At least, basic economic reforms like in China or...

Price is the most critical factor in determining the way markets function. In a perfect market a price shock is transmitted to other vertically or horizontally connected markets within a given period of time. However, when markets do not function perfectly the speed and the magnitude of price...

The given article below illustrates changes in Georgian pension system. The article gives information about short historical review of Georgian pension scheme and also economical analyze of the new pension system, possible results and challenges that are related to the successful implementation...

This paper looks at public support for the creation of a market economy in Eastern Europe. As a data base, the Central and Eastern Eurobarometers surveys are employed, covering up to 21 countries over a time period of 1990-96 and totalling more than 100000 observations on individuals. The...