In a detailed study of 20 newly-privatized Russian enterprises, Igor Gurkov and Shlomo Maital ask two important questions concerning ownership and performance. First, who really controls the newly-privatized enterprises and who is generally thought to control them - are they the same? Second,...

This paper argues that political-economic trends referred to under the single heading of globalisation have distinct causes and manifestations in different countries. Institutional variables chosen by governments and their constituents play a dominant role in determining the character of those...

Frank Bechling recently wrote that "the concentration on the trade-off between unemployment and inflation and the neglect of trade-offs between unemployment and other variables (balance of payments, economic growth, structural change, and income distribution) may lead to a suboptimal choice...