Market economy models differ in the degree of the power of the government vis-à-vis the market in the economy. Under the classifications set forth by Glaeser and Shleifer (2002, 2003), and Djankov et al. (2003), these market models range from those emphasizing low government intervention in the...

The Chinese economy has undergone three major phases: the 1978-97 period marked as the SOE-led economy, the 1998-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the government financial policies, defined as a set of...

Der Kollaps der sozialistischen Systeme in Mittel- und Osteuropa ist eines der herausragenden Ereignisse in diesem Jahrhundert. Die hierdurch implizierte Transformation ehemals sozialistischer Wirtschaftssysteme in Marktwirtschaften ist ohne historisches Vorbild. Am Beispiel der russischen...