The reformed Polish economic system 1982-1983 [based on conference paper]
In: Soviet studies: a quarterly review of the social and economic institutions of the USSR, Band 36, S. 386-405
ISSN: 0038-5859
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In: Soviet studies: a quarterly review of the social and economic institutions of the USSR, Band 36, S. 386-405
ISSN: 0038-5859
In: IMF working paper, 94,43
World Affairs Online
In: The journal of policy reform, Band 4, Heft 4, S. 291-324
ISSN: 1477-2736
In: The journal of policy reform, Band 4, Heft 4, S. 339-348
ISSN: 1477-2736
In: Economics of transition, Band 8, Heft 1, S. 101-116
ISSN: 1468-0351
In this paper we use a survey of 281 Czech, Hungarian and Polish newly‐established small private firms in order to shed some light on the constraints these firms face in the credit market. The results of our survey show that imperfections in capital markets in Central European economies do not seem to actually inhibit the growth of new private firms. Credit markets do exist for de novo private firms in the three Central European transition economies studied, and they provide quite a large amount of financing from an early stage of the existence of firms. Financial intermediation works reasonably well as far as de novo private firms are concerned: loss‐making de novo firms have a lower probability of getting credit than profitable ones. Banks protect themselves against the risk of a deteriorating pool of borrowers by requiring collateral for their loans. We do not find convincing evidence concerning the existence of adverse selection. Loss‐making firms are not ready to pay higher interest rates than profitable firms and are not more likely to ask for credit than profitable firms.
In: Economica, Band 53, Heft 210, S. 271
In: The State of communist economies 3
In: Russia on Russia, Issue 1
Perle, R.: Lessons of the Cold War. - S. 5-13 Salmin, A.: Russia in the new world order: a historical overview. - S. 14-21 Lukin, A.: NATO and Russia after the Kosovo crisis. - S. 22-30 Coker, C.: The postmodern world and Russia. - S. 31-41 Pipes, R.: What Russians should do in the twenty-first century. - S. 42-54 Jean, C.: Globalisation and the new geopolitics. - S. 55-65 Skidelsky, R.: Kosovo and Russia's place in international relations. - S. 66-79 Rostowski, J.: National power: an economic perspective. - S. 80-89 Trenin, D.: Russia-EU partnership: grand vision and practical steps. - S. 90-97
World Affairs Online
The rebirth of competition and the extensive "exit" that has resulted are among the most important developments in Central Europe since the demise of Communism. This text examines why, how, and to what extent enterprises have reduced their size or left the market altogether during the first years of the transition from socialism to capitalism in the Czech Republic, Hungary and Poland