Using the 2008–2009 global financial crisis, this paper examines the role of different forms of international financial integration for asset price contagion in crisis times. The analysis uses bilateral financial and trade linkages and daily data on equity and bond prices for a sample of 46...

In this article we investigate the role both the old large enterprises sector and the new SME sector have played during transition in Romania. In the first part, based on micro data for the large SOE sector, we document how heavily loss-making enterprises have been able to survive for a decade,...

This article investigates issues related to industrial restructuring in Russia. Based on extensive sectoral data it examines, more particularly, levels and changes in labour productivity, unit labour costs and revealed comparative advantages for a large number of Russian industrial sectors. The...