During the last ten years, Estonia has made strong efforts in terms of the transition to a market economy. This is particularly true with respect to the soundness and transparency of monetary and fiscal policies, the privatisation of former state-owned enterprises, the development of the...

Prior work on corruption has largely overlooked personal relationships as an essential determinant of bribery incidence in transition economies. In these countries, relationships with public officials are instrumental in enabling transactions and lowering transaction costs, due to incoherent and...

Many transition economies are characterised by a relatively rudimentary institutional framework. Weak legislative structures and the absence of effective market regulation and property right enforcement rules diminish the chance of mutually profitable business transactions and-more...