Property Relations and Financial Reforms in Transition Economies

Property relations and financial reforms in transition economies *

Property relations and financial markets are key aspects of the transition to a market economy. This paper reviews conceptual analysis and recent experience in these areas under five broad headings: (1) property rights and the legal framework; (2) privatisation; (3) the management and regulation of state-owned firms; (4) banking and finance; and (5) restructuring. The emphasis of the paper is o...

Financial Development and Economic Growth in Transition Economies :

We examine the role of financial development in economic growth in the former Communist countries of Central and Eastern Europe and the Commonwealth of Independent States during the first two decades since the beginning of transition. These countries, which had undeveloped financial systems under Communism, provide an interesting test of the relationship between financial development and growth...

No . 2005 - 10 China vs . the Orthodoxy : State and Ownership Reforms in Transition Economies

The Role of Investment and Regulatory Reforms in the Development of Infrastructure across Transition Economies

The main aim of this paper is to assess whether investment in infrastructure and broader institutional infrastructure reforms have been reflected in better infrastructure performance indicators across transition economies. Our econometric analysis shows that at the enterprise level the reduction of utility arrears is significantly associated to lower costs in terms of interruption of power and ...

Shaky Emerging Economies in View of the Global Financial Crisis: the Turkish Economy after Three Decades of Liberal Reforms Shaky Emerging Economies in View of the Global Financial Crisis: the Turkish Economy after Three Decades of Liberal Reforms

In the wake of the global change of a new accumulation regime in major capitalist economies, the opening up and liberalisation process of emerging economies from the 1980s has provoked great expectations that resulted in recurrent disappointing crises. Studied as a stylized fact, the Turkish experience leads us to assess the role of liberalised macroeconomic environment, unsuitable economic pol...