This paper analyses two aspects of banking crises: the choices that banks make to passively roll over loans in default versus actively pursuing their claims; and choices by regulators to ‘punish’ passive and insolvent banks versus rescuing them. Banks may choose to roll over loans in order...

This paper investigates the activities of the Bulgarian competition office, the Commission for the Protection of Competition, during 1991–5. Descriptive statistics are provided on the industry incidence of investigations, the types of behaviour that were investigated, and the frequency with...

The aim of the paper is to discuss the concept of cost-effectiveness of national air pollution abatement programmes, analyze it from a region-wide perspective, and outline a framework for integrating international and domestic environmental priorities. The paper refers to air protection policy...