THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Who Is in Favor of Enlargement? Determinants of Support for EU Membership in the Candidate Countries’ Referenda

Who Is in Favour of Enlargement? Determinants of Support for EU Membership in the Candidate Countries' Referenda

This paper investigates both the macro and micro determinants of EU support as expressed in the 2003 referenda on EU membership and the 2002 Candidate Countries Eurobarometer survey data. It is found that favourable individual and regional characteristics, i.e., the “winners” of the transition process, are positively correlated with support for accession and voter participation. In contrast, th...

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Resolution, Recovery and Survival: The Evolution of Payment Disputes in Post-Socialist Europe

What determines the mechanism chosen to resolve a commercial dispute? To what degree does the aggrieved recover damages? And does the relationship survive in the aftermath? The answers to these questions affect expectations as to the costs of transacting and, thereby, the development of markets. But they have received almost no attention in the economic literature on the post-socialist transiti...

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Formation of social capital in Central and Eastern Europe: Understanding the gap vis-à-vis developed countries

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Human Capital, Growth and Inequality in Transition Economies

Transition economies have an initial condition of high human capital relative to living standards. I explore the possible implications of this key fact by surveying and adapting literature on growth and inequality. I focus especially on the long run and policy options.

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Financial Dependence, Stock Market Liberalizations, and Growth

Stock market liberalizations provide a natural experiment to test for the causal relation between financial development and economic growth. We test this relation by investigating whether liberalizations facilitate growth through the particular mechanism of reducing capital market imperfections that drive a wedge between the external and internal cost of capital to firms. Using panel data on a ...