This book, based upon a large-scale research project, examines alternative types of exchange rate policies being pursued and the changing nature of exchange rate policy during the transition process in four countries, Slovenia, Bulgaria, Poland and the Czech Republic. The book brings together a...

This paper develops a model of a representative transition economy to explain the stylised facts of output declines and real exchange rate appreciation in the early stages of transformation. These facts can be explained by supply-side shocks, interest rate liberalisation or a reduction in core...

This paper employs a novel multi-level data set and a multinomial logit model - to examine the factors explaining 1,223 foreign investment location decisions by firms in the EU(15), Japan, Norway, Russia, Switzerland and the US in 12 Central and Eastern European countries (CEECs). The highly...