This paper analyzes the exchange rate exposure of exporting firms in (the so far rarely addressed) largest Eastern European transition economies, i.e. Russia and three EU accession countries (CEEC-3). It also controls for possible effects of different exchange rate regimes. Substantially...

We estimate monetary policy rules for six central and eastern European countries (CEEC) during the period, when they prepared for membership to the EU and monetary union. By taking changes in the policy settings explicitly into account and by introducing several new methodological features we...

The choice of an exchange rate arrangement affects exchange rate volatility: higher flexibility goes ahead with increasing volatility and vice versa (Flood and Rose 1995, 1999). We investigate five Central and Eastern European countries between 1994 and 2004. The analysis merges two approaches,...

In this paper we investigate the determinants of bank interest margins in Central and Eastern European countries (CEEC). We try to assess to what extent the weak performance of many banks in transition economies can be attributed to a low degree of efficiency and non-competitive market...

A considerable number of Western European banks have acquired banks in Central and Eastern Europe from the mid-1990s onwards. The question is whether or not this will improve the efficiency and profitability of the Central and Eastern European banking sectors. We test the relative strength of...

The supply-side framework and related measures of output and unemployment gaps play a leading role in the OECD analysis of short-term conjunctural conditions and long-term determinants of growth. To allow such diagnoses for Poland, this paper develops a comprehensive supply block in accordance...

The Czech government considers innovation policy a key component of the effort to improve the business environment. This paper underscores the importance for the Czech Republic of expanding R&D activities that have a potential for commercial innovation. It also points to the relevance of good...

The economic integration of the eastern German states has progressed rapidly in many respects. The infrastructure has been rapidly built up and modernised. A strong trend to modernise the business capital stock has been established, aided by financial assistance from the west. Already at the...

One area where spending discipline will become increasingly important in Hungary is health care. This paper describes the structure of the health care system, highlights outstanding weaknesses and considers ways to make financing more stable and sustainable. The slow progress in modernising the...

This paper examines within an international context, the healthcare system in Hungary. While the system resembles in many of its broad features those of other OECD countries, Hungarians have the lowest life expectancy in the OECD and its rate of increase over the last 20 years has been much...