We document that a persistent inflation differential has opened across different groups of transition economies since 2001, with the CIS-West seeing particularly high outcomes. We consider a range of non-monetary explanations discussed in the literature (economic structure, policy and...

This article uses Russian regional data to estimate the determinants of the informal economy and to examine the relationship between the informal economy and the growth of legally registered small private enterprises during the transition period. After obtaining an estimate of the size of the...

This article uses the sequencing of privatization to infer the objective pursued by the Polish government in the privatization of its large manufacturing firms in the second half of the 1990s. We construct a model of mixed oligopoly and use it to evaluate the privatization process; our analysis...

This study uses data from the 2005 Albania Living Standards Measurement Study survey to assess the impact of past migration experience of Albanian households on non-farm business ownership through instrumental variables regression techniques. Considering the differences in earning potentials and...

Longitudinal data from interviews with Poles of working age conducted in 1988, 1993 and 1998 combined with longitudinal firm-level data present a detailed view of the transition from a state-dominated to a market economy. Job losses in state firms and job creation in new private firms are the...

This paper examines the performance of the service sector in the Eastern European transition economies during the 1997-2004 period. The performance of the service sector as a whole and of its sub-sectors is very heterogeneous within the region. Service sub-sectors that are information and...

This paper examines the impact of a regime shift on the valuation of politically powerful oligarch firms. Focusing on the Yeltsin-Putin regime shift in Russia, we find that the valuations of oligarch-controlled firms are significantly higher under the Putin regime than under the Yeltsin regime...

This paper examines how international openness can change firm productivity in south-eastern Europe (SEE), a crucial question for middle-income countries. Using firm-level data for six transition economies over the 1995-2002 period, we identify whether foreign ownership and propensity to trade...

This paper revisits the question of whether the finance-growth nexus varies with the stages of economic development. Using a novel threshold regression with the instrumental variables approach proposed by Caner and Hansen (2004) to the dataset used in Levine "et al." (2000) we detect...