We propose a quantitative theory of wealth creation and distribution during China's transitional growth from the early 1990s, when barriers to setting up private businesses, trading housing, and migrating from rural to urban areas are struck down. In response to the changing economic...

This paper assesses the impact of the 2008-09 global financial and economic crisis on the medium-term growth prospects of the countries of central and eastern Europe, the Caucasus and Central Asia, which began an economic transition about two decades ago. We use cross-country growth regressions,...

The 2008-2009 global recession, which originated in developed economies, has rapidly spilled over worldwide, hitting different economies with various intensity. The Macedonian economy was not an exception - the export sector suffered heavily, expectations deteriorated and household consumption...