This paper surveys the theoretical and empirical evidence on capital account convertibility and assesses its relevance for the reform states of Central and Eastern Europe. Its major findings are that domestic investment conditions matter and that domestic policies can reduce the risk of an...

Eine Erweiterung der EU um Länder, die in ihrer wirtschaftlichen Entwicklung deutlich zurückliegen und deren Integration die Heterogenität der EU spürbar erhöht, verlangt nicht nur den potentiellen Neumitgliedern, sondern vor allem auch der EU erhebliche Reformanstrengungen ab. Ein...

Diversity, or variety, is the essence of economic life in the sense of underlying choice; economic calculation gives numerical substance to how people make choices in their daily endeavours, either as consumers or entrepreneurs. How does variety/diversity takes shape in the realm of institutions...

When it seems that everything or nearly everything has been said about the prerequisites and prospects of economic growth - in the Polish context, too (Kolodko 2002b and 2002c; Noga 2004) - it is worthwhile to revisit certain aspects of this phenomenon, which is of vital importance for the...