This paper analyzes how governments in transition economies, interested in their budgetary situation privatize large enterprises. While informal discussions favour voucher privatization my formal model of privatization suggests that voucher privatization may be hard to implement: In contrast to...

In this paper we analyze annual trade data for Austria and Central and Eastern Europe (CEE) on a disaggregate level. Permanent structural changes in East-West trade turn out to be an important feature in the transition process. The considerable contribution of intra-industry trade to overall...

This paper describes the effects reforms have had on industry's dispersion in Russia. We show that the start of relocation activity is temporally closely associated with the beginning of reform, lacks a clear industrial pattern and does not correlate with the output loss of industries. We also...