This paper investigates the possibility that the newly emerging equity markets in Central Europe exhibit a degree of efficiency similar to that which prevails in more developed markets. The different privatization strategies adopted by the various countries in the region are shown to have...

This paper investigates the possibility that newly emerging equity markets in Central Europe exhibit semi-strong form efficiency such that no relationship exists between lagged values of changes in economic variables and changes in equity prices. We find that while there are connections between...

A 2002 survey of 1089 Czechs and 501 Slovaks, as well as a more limited survey of Hungary, and Poland, indicates that an individual may evade taxes in part if he believes he is receiving substandard government services. We suggest that an individual’s evaluation of the quality of government...