Feasibility of a currency board type of monetary arrangement in transitional economies of Eastern Europe is a function of the size of the country and the nature of the financial sector in a country. For very small countries where financial services can be provided by subsidiaries of foreign...

A relationship between economic policy and economic growth is analyzed in the present paper. Special attention is paid to the situation in the countries still facing the heritage of central planning and real socialism. The focus is on privatization, internal and external price liberalization and...

Replaced with revised version of paper 02/22/08.

Energy for heating, cooling, lighting, mechanical power, and various chemical processes is a fundamental requirement for both daily life and economic development. The negative impact on the environment of current energy systems is increasingly alarming, especially the global warming consequences...