This is the first part of the research devoted to the problem of the choice of institutional reform strategies. A strategy is defined as a planned trajectory of institutional changes in time. Three types of strategies are compared: shock therapy, gradual growing, and interim institution...

The political and economic changes of the 1990s were followed by major transformations in the structure and volume of Polish foreign trade. Those changes were observed both in geographical and commodity structure of Polish foreign trade, which provides evidence supporting the general thesis that...

A common phenomenon about transition economies is that the return to schooling improves as economic reform progresses. Existing evidence suggests that Vietnam is not an exception to the pattern. However, the rate of return for the period 1992 to 1998 is still low relative to that of the world...

Economic transition lowered happiness on average, but did not affect all equally. This paper uses Hungarian survey data to study the impact of religion and economic transition on happiness. Religious involvement contributes positively to individuals' self-reported well-being. Controlling for...

This study proposes that feminist research be integrated into the field of comparative economic systems (CES) and that CES return to its traditional institutionalist methodologies to facilitate more complete analyses of economic systems and feminist alternatives to these systems and...

Financial market imperfections and especially the bad debt problem are among the most important factors impeding economic restructuring in transition economies. This paper analyses the implications of non-performing loans for the lending policy of banks and for the ensuing allocation of credit....

The rapidly growing literature studying the relationship between legal origin, investor protection, and finance has stimulated an important debate in academic circles. It has also generated a number of applied research projects and strong policy statements. This paper discusses the implications,...

The paper investigates the relationship between fundamental uncertainty, a recurrent theme in post-Keynesian economic literature, and economic performance in transition economies. Uncertainty in the transitional economic environment is enhanced by factors such as institutional transformation,...