This paper examines the interplay between exchange rate regimes and policies and commercial policy in six transition economies. In all these economies the rate of protection afforded domestic industry by the exchange rate has been eroded by high rates of inflation and insufficient growth in...

We examine the role of FDI in facilitating money laundering and illegal capital flight, focusing on transition economies’ FDI outflows because they largely reflect current investment decisions rather than the inertia of past decisions. We estimate a model of FDI outflows in which illicit money...

We model the relationship between foreign direct investment (FDI) and the level of corruption in multinational firms' (MCNs') home and host countries. There are two effects of corruption. The first is that host-country corruption reduces FDI by increasing foreign firms' costs. The second effect,...

Der Verfasser knüpft an den vorstehend veröffentlichten Beitrag von Brada und Kutan an, der sich mit der Persistenz einer gemäßigten Inflationsrate in der Tschechischen Republik auseinandersetzt. In seinem Kommentar zu diesem Beitrag geht er hauptsächlich auf die Geld- und Währungspolitik...