This article elaborates on the role of personal remittances and Foreign Direct Investment (FDI) as the forms of international private aid most compatible with sustainable economic growth and development. We argue that remittances and FDIs are not only the most prevalent forms of private aid, but...

Teaching ‘Economies in Transition' as a study abroad course is the most effective way to convey the role of ideas, institutions, culture, and leadership in the transition of former communist countries. We visited four representative countries in Central and Eastern Europe: Germany, Czech...

Economy has undergone multiple stocktakings and revisions. In the former communist countries, Marxist economics was abandoned in favor of neoclassical economics, which dominated the profession in the West. But was neoclassical theory equipped to suggest adequate institutional arrangements in...

This chapter discusses the role of personal remittances and Foreign Direct Investment (FDI) as forms of international private aid. We argue that remittances and FDIs are not only the most prevalent forms of private aid, but also the most effective forms at improving standards of living, market...