An important issue in multilateral trade negotiations is the approach taken to reduce tariffs. François, Martin, and Manole believe that there are important advantages in formula approaches and survey a range of options between the sharply top-down Swiss formula and proportional cuts in...

Banking sectors in transition economies have experienced major transformations throughout the 1990s. While some countries have been successful in eliminating underlying distortions and restructuring their financial sectors, in some cases financial sectors remain underdeveloped and the rates of...

Using a unique data set from the Czech Republic for 1994-2003, this study examines the relationship between technological spillovers from foreign direct investment (FDI) and firms' access to external finance. The empirical analysis indicates that overall, Czech firms benefit little from...

This study uses a new, innovative measure of trade protection and finds that less trade protection is associated with higher income per capita, using data from 131 developed and developing countries.