We examine the investment behavior of a sample of Polish industrial firms over the period 1991-1993 by means of a model that views investment flows as part of the firm's effort to adjust its assets and liabilities so as to maximize the returns to the firm. We argue that the application of...

Although the rate of inflation has declined in the more advanced transition economies such as the Czech Republic, Poland, and Hungary, it continues at moderate rates that are sufficiently high by regional standards to pose economic problems for these countries. In this paper, we examine the...

In this article, we examine the responsiveness of Turkey's trade balance to devaluation accompanied by trade liberalisation. Our results show that the trade balance was responsive to changes in the exchange rate that were brought about by the economic reforms introduced in the 1980s, suggesting...

We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for European Union (EU) membership with that of countries that have recently joined the EU. Significant linkages exist between German base money stock and that of recent members of the EU;...