This paper uses a multi region DSGE model with collateral constrained households and residential investment to examine the effectiveness of fiscal policy stimulus measures in a credit crisis. The paper explores alternative scenarios which differ by the type of budgetary measure, its length, the...

This paper aims to explore the factors influencing the ability of firms to compete in globalised markets. The Austrian and evolutionary economics and the endogeneous growth literature highlight the role of innovation activities in enabling firms to compete more effectively – and expand their...

The paper discusses four IMF-supported adjustment programs of Poland, 1990-1995, and two of Russia, 1992-1994, in terms of the underlying theory, policy objectives, assumptions, policies, errors and results. The paper suggests that the roles of the IMF and the World Bank have been helpful but,...

The authors of this paper try to analyze the similarities and differences in the starting conditions, adopted policies, and achieved results of the above three countries. The first part of the paper will be devoted to the initial conditions: the economic heritage of the FSU (especially of the...

The paper looks at linkages between MDGs and PRSPs in six transition countries: Armenia, Azerbaijan, Georgia, Kyrgyz Republic, Mongolia, and Tajikistan. Progress towards MDG attainment in all these countries is considered. Key features of PRSPs in the countries of the sub-region are analyzed....

The incidence of oligarchs is one of the most significant political problems after communism. An appropriate policy towards them has become a pressing issue for both Russia and Ukraine and addressing this matter will greatly influence the future economic systems of these countries. The paper...

The objective of the PICK-ME (Policy Incentives for Creation of Knowledge – Methods and Evidence) research project is to provide theoretical and empirical perspectives on innovation which give a greater role to the demand-side aspect of innovation. The main question is how can policy make...

This Report is one of the six studies in the first phase of the EU project on the “Costs and Benefits of Labour Mobility between the EU and the Eastern Partnership Partner Countries”. It aims at providing an informed view of the potential for increased migration flows and their consequences...

After a long period in which state-led development was the dominant economic paradigm, since the 1980s private sector development has been the focus for economic policy makers. It is probably no coincidence that economic growth, stagnant for a few decades in much of the developing world, took...