I analyse the reallocation of labour and human capital from the state sector to the non-state sector and non-employment in Russia. I use a nationally representative household dataset, the Russian Longitudinal Monitoring Survey, to study sectoral mobility in early transition using summary...

The curse of natural resources is a well-documented phenomenon for developing countries. Economies that are richly endowed with natural resources tend to grow slowly. Among the transition economies of the former 'Eastern Bloc', a similar pattern can be observed. This paper shows that a large...

The paper analyses preferences of private owners over the degree of property rights protection. It is shown that inequality in resource ownership and/or relative inefficiency of production technologies could make wealthier agents favour less than full protection of property rights. If such...

Three hypotheses about the nature of federal tax arrears in Russia in the second half of the 1990s are tested empirically. Tax arrears can be a result of: 1) liquidity problems in firms, 2) redistributive subsidies of the federal government, or 3) regional political resistance to federal tax...

The de-collectivization of Vietnamese agriculture was a crucial step in the country's transition to a market economy. The assignment of land-use rights had to be decentralized and local cadres ostensibly had the power to capture this process. We assess the realized land allocation against...

One feature common to many post-socialist transition economies is a relatively compressed wage structure in the state-owned sector. We conjecture that this compressed wage structure creates weak incentives for work effort and worker skill acquisition and thus presents adverse consequences for...

The paper presents a model in which the exogenous money supply causes changes in the inflation rate and the output growth rate. While inflation and growth rate changes occur simultaneously, the inflation acts as a tax on the return to human capital and in this sense induces the growth rate...

We model an accession country facing a Maastricht-type inflation criterion that specifies an inflation ceiling. In addition to deciding whether or not to satisfy this criterion, the country must decide how much costly economic reform to undertake. If the country puts enough weight on the future...

Public listing is a key reform measure for large state-owned enterprises (SOEs) in China. We find evidence that public listing lowers state ownership significantly, lessens firms' reliance on debt finance, and allows firms to increase capital expenditure, at least temporarily. We also find that...