The report analyses recent economic developments and short- and medium-term prospects of the countries of Central and Eastern Europe, Southeast Europe including Turkey, as well as Kazakhstan, Russia, Ukraine and China. Separate chapters present an overview of developments in the European Union's...

A growing body of theoretical and empirical work identifies the ability of a country's institutions to protect private property and provide incentives for investment as a key explanation for the persistent disparity in financial market development. We add to this literature by analyzing the...

After a long period of convergence, Central, East and Southeast Europe experienced a deep recession in 2009. The relatively moderate GDP decline (-3.6%) on average for the new EU member states (NMS) reflects Poland's weight in the group, the only EU country to have recorded positive GDP growth...

Global allocation of capital and fluctuations in asset prices are increasingly influenced by the activities of Sovereign wealth funds (SWFs). The Santiago Principles called for higher transparency, stressing that SWFs should exhibit clearer governance standards and sound portfolio management...

The Central, East and Southeast European (CESEE) economies will experience on average a minor rebound of economic growth to 1% in 2010 which will speed up to 2.5% in 2011 and 3.5% in 2012. GDP growth will be higher in the CIS countries and in Turkey, about average in the Central European NMS and...

Im Zuge der Eurokrise setzten sich in Europa neue Formen der Austeritätspolitik als nationale Krisenbearbeitungsstrategien durch. Diese unterschieden sich zwar in ihrem Umfang, teilten aber das Ziel, die Staatsfinanzen zu konsolidieren und die Wettbewerbsfähigkeit der jeweiligen Ökonomie zu...

A growing body of theoretical and empirical work identifies the ability of a country's institutions to protect private property and provide incentives for investment as a key explanation for the persistent disparity in financial market development. We add to this literature by analyzing the...

We show that equity market liberalizations, on average, lead to a one percent increase in annual real economic growth. The effect is robust to alternative definitions of liberalization and does not reflect variation in the world business cycle. The effect also remains intact when an exogenous...

The crisis of economy in Indonesia forces the government to reform its economic development paradigm. The new paradigm development refers to great attention of economic societies such as cooperation. Those involve in the planning of national economic development as well as the planning of...