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)....

Reforms often occur in waves, seemingly cascading from country to country. We argue that such reform waves may be driven by informational spillovers: uncertainty about the outcome of reform is reduced by learning from the experience of similar countries. We motivate this hypothesis with a simple...

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...