This work is an update of a more thorough study conducted in 2001. The purpose of that study was to determine the economic impact of the Virginia Horse Center on the Lexington-Rockbridge County area (L-R area) and the state of Virginia. This update uses current information and relationships...

This study examines the effect of the public higher education sector on Virginia’s economy. The study consists of three distinct parts. The first part consists of a full accounting of the current flow of economic activity in Virginia that can be directly tied to the expenditures and activities...

Hungary taking stock (by J. Kornai; pp. 1-12) Keywords economic policy, reform Countries covered Hungary Topics Macroeconomic Analysis and Policy Developments in trade and FDI in services in the Visegrad countries (by O. Pindyuk; pp. 13-20) Keywords trade, services, FDI Countries covered...

(The Ending) The phenomenon of the soft budget constraint (SBC) in a competitive environment is analyzed in the second part of the article. Its consequences for banks and the role played in developing financial crises are considered. Political intervention in firms is studied. The conclusion is...