During the transformation of planned economies to market economies subsidies can play a dual role: they can be used either to make enterprises viable in a market environment or to perpetuate structural adjustment problems. In consequence they may either foster or distort Community an din a wider...

The economic crisis, the second economic shock to hit the Eastern Europe and the South Caucasus region after the collapse of the Soviet Union, has been a warning and a call to action. The region has many advantages and much potential, but some of this was squandered during the boom years of the...