This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed market economies. The primary focus of the study is on competition and market structure, finance and the structure of lending to firms, and how firms respond to the economic...

This paper examines the importance of competition in the growth and development of firms. We make use of the large-scale natural experiment of the shift from an economic system without competition to a market economy to shed light on the factors that influence innovation by firms and their...

Since the 1998 financial crisis the Russian economy has been growing rapidly, and seems set to go on doing so in the coming years, recording healthy balance of trade surpluses and surpluses on the public sector accounts. At the same time, under President Putin, market-type reforms have gained...

The transition to market-based economic systems in the countries of Central and Eastern Europe and the former Soviet Union involves fundamental shifts in the allocation of resources and deep changes in the structure of production and employment. This paper uses a simple model of economic...

This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed market economies. The primary focus of the study is on competition and market structure, finance and the structure of lending to firms, and how firms respond to the economic...

How do economic reforms affect resource reallocation processes and their contributions to productivity growth? This paper studies the consequences of enterprise privatization and liberalization of product markets, labour markets, and imports in the former Soviet Republics of Russia and Ukraine....

We analyze the impact of privatization on multifactor productivity (MFP) using long panel data for nearly the universe of initially state-owned manufacturing firms in four economies. Controlling for firm and industry-year fixed effects and employing a wide variety of measurement approaches, we...

Our understanding of the effect of investment-financing constraints in transition economies faces significant problems, both in terms of choice of the underlying theoretical model of investment behaviour and in the estimation framework adopted. These problems drive the choice in this paper of...

Ukraine became independent in 1991 and formally abandoned central planning. But the development of market methods of input supply and product distribution was impeded by continuing price distortions and the survival of various methods of administrative commodity allocation from the central...

This study looks at the signs of financial repression in a transition economy, by evaluating to what extent "perverse financial innovations" resulting from soft budget constraints interfere with monetary developments at the aggregate macroeconomic level. Specifically, the paper investigates to...