Since the collapse of the Soviet Union, the Romanian rural economy has undergone massive changes. Increased urban unemployment has stimulated migration from towns to rural areas. Meanwhile, rural industries that were subsidised under communism have collapsed, causing rural unemployment....

In advanced market economies, the use of trade credits is an important way of short-term financing and generally considered as being part of normal business practice. Some transition economies, however, have experienced a rapid accumulation of trade credits which have led to interlocking webs of...

The aims of this study are to improve understanding of the dynamics of the rural non-farm economy in providing employment and income diversification opportunities in Armenia, Georgia and Romania. The study aims to focus on improving the well-being and livelihoods of the rural population, through...

In this paper the findings of a survey conducted in June 2001 in Armenia are summarised. The aim was to gain insight into the nature of the rural non-farm economy (RNFE) in the country. For that purpose, 21 rural communities in 3 regions (called marzes in Armenian) were non-randomly selected....

The curse of natural resources is a well-documented phenomenon in developing countries. Economies that are richly endowed with natural resources tend to grow slowly. Among the transition economies of the former “Eastern Bloc”, a similar pattern can be observed. This paper shows that a large...

This paper investigates the determinants of the flows out of employment in Poland using multinomial logit model based on the individual LFS panel data covering the 1997-2004 period. It focuses on the influence of the personal characteristics, macroeconomic environment, industry restructuring and...

This paper presents the multinomial logit analysis based on the individual Polish LFS data stretched over the 1997-2004 period. It's main goal is to scrutinize the determinants of outflows from unemployment at the time when the two shocks have affected the Polish economy and labor market. It...

We address the macroeconomic developments experienced by Romania in a decade of transition towards a market driven society. We focus on a descriptive analysis with the intent of offering a clear and broad picture of the main aspects distinguishing the Romanian economy. The paper also discusses...

It is widely acknowledged that underground (unrecorded) economic activities play a major role in transition economies. Evaluations of the success and failure of the transition experience should therefore be based on total economic activity [TEA], namely, the sum of recorded and unrecorded...

The relationship between financial sector and economic growth in transition countries has been largely ignored in the earlier empirical literature. In this paper, we analyse the finance-growth nexus using a fixed-effects panel model and unbalanced panel data from 25 transition countries during...