Unlike the narrow approach currently prevailing in the literature, this paper proposes a Nash bargaining model to explore an optimal strategy for state-owned enterprise (SOE) reforms in China. We argue that ceteris paribus the current illnesses of low efficiency and rent-seeking commonly...

We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...

This chapter takes stock of growth trends in Belarusian economy since 1996, reviews the evidence of accumulated challenges and risks within the existing growth patterns, and provides policy recommendations aimed at strengthening growth sustainability. In sum, while economic growth in Belarus in...