This paper attempts to evaluate wage rigidity related to risks of increased size and volatility of unemployment after the candidate countries enter the EMU. Such evaluation is done through the study of past labour market adjustment mechanisms and, in particular, the role played by the exchange...

The paper examines theoretical literature, recent EMU accession examples, and current CEECs performance in search of the optimal currency regime for meeting the Maastricht criteria. Currency board arrangements seems to provide the fastest convergence. For other regimes, the markets may have...

This paper analyses the impact of exchange rate regimes on the real sector. While most studies in this field have so far concentrated on aggregate variables, we pursue a sectoral approach distinguishing between the tradable and nontradable sectors. Firstly, we present a survey of the relevant...

The purpose of the paper is to present the current state of knowledge on both theoretical models and empirical evidence of interrelations between emerging corporate governance mechanisms and ownership structure of privatized enterprises in post-Communist countries. Section 2 contains extensive...

Non governmental organizations have been active in Moldova since 1989, but a civil society started its today’s formation as a result of radical reforms in economic and political areas only after the country became independent in 1991. Since that time the establishment of a transitional civil...

The standard Keynesian view of fiscal policy holds that in short-run fiscal adjustments (expansions) reduce (stimulate) aggregate demand and due to sticky wages, prices or other market rigidities, these demand shifts affect the factors of production and output. These conventional predictions...

The task of this paper is to provide information and analysis on the legal framework of privatisation and corporate governance in Poland and on secondary privatisation processes in Polish privatised enterprises, i.e. changes in ownership structure which are taking place after privatisation. The...

In this paper I estimate a Bayesian structural VAR models for the Czech Republic and Poland, allowing for changes in parameters between the two monetary policy arrangements. The four-variables structural VAR methodology adopted in the study is successful in identifying monetary policy shocks and...

We analyze the governance structure and the financing of Kyrgyz education, with special emphasis on the general secondary education system. General secondary schools are under the authority of oblasts and rayons. Our main findings are as follows: 1. The oblast and rayon authorities in Kyrgyzstan...

The purpose of the paper is to develop a formal method for monitoring and assessment of the process of sustainable national development. In particular, we apply cluster analysis to develop procedures of formal assessment of development gaps, and show how they can be applied for monitoring...