The aim of this paper is to develop a comprehensive analysis of the shock therapy model of transition. As such the model requires an analysis of what I define as the primary elements: economic analysis, definition of a good society, speed, political structure, ideological structure and initial...

The aim of this paper is to develop a comprehensive analysis of the shock therapy model of transition. As such the model requires an analysis of what I define as the primary elements: economic analysis, definition of a good society, speed, political structure, ideological structure and initial...

In this paper, we employ a block structured near-vector autoregression in order to compare the reactions to euro area shocks in four new member states (Bulgaria, Hungary, Czech Republic and Romania) and in the old member states of the EU. The methodology adopted also allows us to study the...

A central goal that has eluded most countries in sub-Saharan Africa is to effectively manage their natural resources, develop diversified and prosperous economies, and as a result, improve the standard of living of their citizens. This paper draws from the framework of diversification and...

We examine the tax-growth nexus in Zimbabwe using parametric and non-parametric analysis. We use a two-stage estimation procedure that first generates efficiency scores for the country using a Data Envelopment Approach. We use the efficiency scores in the second stage to normalise growth to get...

It was not possible to test the neoclassical convergence theory on communist countries until the collapse of communism. The method of beta convergence indicates divergence among the liberated countries of Southeast Europe from 1980-2006. A more advanced quantile regression also indicates...

This paper investigates the strategic role of Kazakhstan's development institutions in programmes for economic diversification, based on the state target of strengthening national competitiveness. The author analyses the primary challenge for the state from the long-term perspective: mechanisms...

Our paper comes in the course of the New Institutional Economics which emphasises the supremacy of institutional reforms on the economic framework. Recently, measures and proxies notions of 'governance' and 'institutions' have stimulated empirical research in economics and political science. The...

The geographical situation of the Russian enclave led to its strong exposure to the destabilising effects of post-communist economic transformation. A dramatic trade opening has occurred, and regional trade and production has undergone profound changes. The major phenomenon relative to the...

The paper provides a scenario exercise for Russian economic development until 2017. Russia will continue to grow for several years at least, as an emerging middle class drives consumption growth and structural change, though not in exports. Import propensity grows fast, and the recent current...