The paper studies the extent to which the transition in agricultural prices has satisfactorily been implemented in Bulgaria and Slovenia and the degree to which actual prices reflect the equilibrium conditions of the market. In Bulgaria, a model in which the new and old regime can co-exist, was...

The paper analyzes the arguments for and possible consequences of an increase in the statutory retirement age in central Europe, including the Czech Republic, Hungary, Poland and Slovakia. The analysis reflects the current and projected demographic and economic developments, and discerns the...

This research finds empirical evidence indicating that smoothed real asset prices lead security prices in a controlled economy. The results are important for illustrating the effect controlled inflation can have on controlled security prices. Copyright Kluwer Academic Publishers 1999

This paper uses a shift-share method to quantify the components of economic growth and structural changes in employment and investments at both the national and regional levels. The results indicate that rapid economic growth has been characterized by significant shifts in employment and...

Two recent studies of SME share determination have employed a partial adjustment model which specifies disequilibrium as the sole means of explanation. Contemporaneous information is found to be crucial in both analyses and suggests forward looking behaviour in the equilibrium specification....

There has been renewed empirical work recently on testing the neoclassical model of economic growth using data on various groups of countries. But none of the cross-country regressions includes China, the largest developing economy in the world. This study utilises both cross-sectional and panel...

This paper is intended to model the principal-agent relationship and its associated monitoring-incentive problems of the public economy. The basic findings are: (1) the degree of publicness and the size of the public economy matter: the monitoring effort of the original principals and the work...

Economic reforms have brought about spectacular growth and vast improvements of people’s living standards in China since 1978. In the meantime, unbalanced regional growth and income inequality have become two important concerns of future development. Most available studies on income...

The paper argues that the sustainable development of Chinese agriculture is constrained by the continuing adverse effects of the policy of industrialisation. This has resulted principally in an excessive loss of capital from the agricultural to the industrial sector, a loss of strategic natural...