Albania is one of the Eastern European countries that has done some radical changes, in their way through the reform, toward market economies. Many branches of the economy are involved in the processes of privatization, restructuring and deregulation. The reform, sooner or later, will go through...

In economics, politics, business and statistics time distance concept can provide new insights from existing data. A novel statistical measure S-distance (expressed in time) is generalised to complement conventional static measures in time series comparisons, regressions, models, forecasting and...

The results of the presidential elections in Ukraine in June-July of 1994 could be considered as influenced not only by the ethnic structure of the Ukrainian society but by the structure and regional differences of the Ukrainian economy, especially the Ukrainian industry. The paper shows that...

We develop a simple integrated framework to assess consistency between fiscal policy, monetary reform and inflation. The framework is designed to be applicable in transition economies, where reliable data are at a premium and the financial sector in a state of flux. The model is applied to...

The paper investigates the role of social cohesion in economic development. We capture 'social cohesion' as society's willingness to accept lower wages to increase employment, and as its willingness to offer benefit payments to the unemployed. The lower the minimum wage rate and the higher the...

This paper analyzes how governments in transition economies, interested in their budgetary situation privatize large enterprises. While informal discussions favour voucher privatization my formal model of privatization suggests that voucher privatization may be hard to implement: In contrast to...

The paper provides a framework for understanding why in Romania, like in any other Central and Eastern European country, before starting the process of enterprise restructuring, it is necessary to reform the financial sector. It also provides statistical evidence for understanding why the reform...