Prepared for the "Handbook Of New Institutional Economics." Focusing on firm behavior, the paper examines the collapse of socialist institutions, the building of capitalist institutions, changing firm boundaries, transactional governance, corporate governance, and use of the legal system. The...

At present, there is no generally accepted accounting of the institutional strengths and weaknesses of the transition economies. The first goal of the paper is to fill this gap by assessing current levels of institutional development. The second is to examine which types of institutional...

The paper examines existing results on the relationship between growth performance and speed of liberalization during transition. Several influential studies contain methodological problems that preclude interpretation of their results as bearing on the effects of speed of reform and that...

The paper examines existing results on the effects of the speed of liberalization on growth performance during transition. We highlight methodological problems in these studies, noting the existence of simultaneous causation and the use of variables that are not valid measures of the phenomena...