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External Financing and FDI in Central, Baltic and South-Eastern Europe during 2002-2003: May 15, 2007 09:51
The paper assesses the developments in the financial accounts of the balance of payments in 15 transition countries in Central, Baltic and South-Eastern Europe.

Business Climate No comments yet
Tags: financial, account, payment, transition, europe, see, baltic
Rethinking balance-of-payments constraints in a globalized world: May 15, 2007 09:51
This paper confronts the traditional balance-of-payments (BoP) analytical framework (with its dominant focus on the size of a given country’s current account imbalance and its external liabilities) with the contemporary realities of highly integrated international capital markets and cross-country capital mobility.

Macroeconomic Policy No comments yet
Tags: balance-of-payments, capital, market
Trust in transition: cross-country and firm evidence: May 15, 2007 09:54
This paper uses data from a large survey of firms across 26 transition countries to examine the determinants of trust in the transition process. We first introduce a new measure of trust between firms: the level of prepayment demanded by suppliers from their customers in advance of delivery. Using this new measure, we confirm earlier findings that trust is higher where firms have confidence in third party enforcement through the legal system. However, the fairness and honesty of the courts are more important determinants of inter-firm trust than the courts’ efficiency or ability to enforce decisions.

Macroeconomic Policy No comments yet
Tags: trust, firms, prepayment, transition