Almost fifteen years after the breakdown of the Iron Curtain, citizens in five of the best performing post-communist countries display willingness to return to the previous regime, share values convergent with communism, and high levels of dissatisfaction with democracy. Using a two-step...

This paper examines the interplay between exchange rate regimes and commercial policy in six transition economies. In all these economies, the rate of protection afforded domestic industry by the exchange rate has been eroded by high rates of inflation and insufficient growth in productivity. As...