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Publications (3)
Working Paper
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– Governing Finance in Central and Eastern Europe
Twenty years after the fall of the iron curtain—which for decades had separated East from West—most countries of Central and Eastern Europe are now members of the European Union; some have even adopted the euro. Nonetheless, these countries have also remained exceptionally vulnerable to upset...
Working Paper
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– The Case of Russia
Only recently, 20 years after transition to a market system, has Russia regained a similar production level it had achieved on the eve of transition in 1991. This may sound surprising, given its low productivity under central planning which dropped even lower during the last decades, and the rather...
Working Paper
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– The Case of Latin American Countries
Foreign bank presence has substantially increased in Latin America during the second half of the 1990s, which has prompted an intense debate on its banking and macroeconomic consequences. In this paper, we apply ARCH techniques to jointly estimate the impact of foreign bank presence on the level and...
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