We investigate the effects of economic crises on the subsequent economic, performance, economic reform, democratization and institutional change. Our analysis is based on a sample of post-communist countries, most of which experienced severe economic, crises during the 1990s. We find that the...

The results of the first decade of economic transition are very uneven and are distributed according to a sub-regional pattern. The group of 'leading reformers' consists of middle-income countries of democratic capitalism of the Central Europe and Baltic region (CEB). The second group of less...

This paper starts by separating the transformational recession (reduction of output in most transition economies in the first half of the 1990s) from the process of economic growth (recovery from the transformational recession) in 28 transition economies (including China, Vietnam and Mongolia)....

Many attempts to increase the flexibility of wireless spectrum rights meet objections that the method of reallocation will result in a windfall. Far from being objectionable, however, allowing windfalls in spectrum reallocation creates virtuous incentives. Furthermore, spectrum windfalls are...

The city-state of Singapore is a rare case of market autocracy. The government systematically suppresses political dissent through its courts and legislature, and political power is concentrated almost entirely in the hands of a small governing body: the Cabinet of Ministers. At the same time,...

We investigate the effects of economic crises on the subsequent economic performance, economic reform, democratization and institutional change. Our analysis is based on a sample of post-communist countries, most of which experienced severe economic crises during the 1990s. We find that the...