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Summary: We explore the impact of informal institutions on technological change in transition, comparing the 89 regions of the Russian Federation. We use panel data during the period of recovery and growth, 1998–2004. The one-country framework provides a constant background—unlike, for example, in cross-country studies—against which variance in institution building may be observed. Property rights reform ranged from full enforcement in the Northwest to blocking in Communist regions in the Southeast. We find an unambiguous relationship between early strong reform and technological change. In our model, the quality of informal institutions is proxied by investment risk (ExpertRA Regions rating agency). [Copyright &y& Elsevier]

The empirical validity of the effect of pension reforms on domestic savings in the UK has been investigated using an Auto-regressive Distributed Lag (ARDL) model capable of testing for the existence of a long-run relationship regardless of whether the underlying time series are individually I(1) or I(0). The total savings response to change in pension savings is positive and significant, but an increase in occupational pension saving appears offset by a decrease in other forms of saving. This paper concludes that there is no firm evidence that aggregate savings increase considerably because of privately funded pension schemes. [ABSTRACT FROM AUTHOR]

Provides information on different factors which caused the inflationary experiences of Weimar Germany in the 1920s and Russia after communism collapsed in the 1990s. Discussion on the economic policies of the two countries; Details on the political and social consequences of inflation; Analysis of the banking system and expenditures of the two countries.

Focuses on the financial global situation that is without guarantee by governments or international institutions that it is under control. Relation between budget deficits, debts and dramatic expansion of the bond market; Rationale for pegging the exchange rate in the light of capital flows; Strategies for hedging against currency risks.