European Bank for Reconstruction and Development

Displaying 1-12 of 12 results

  • White Papers // Mar 2011

    Region-Specific Constraints To Doing Business: Evidence From Russia

    This paper looks at variation across Russian regions in terms of perceived constraints to doing business using the Business Environment and Enterprise Performance Survey of Russian firms. The analysis identifies a number of region-specific business environment components that businesses perceive as significantly more binding constraints to their operations compared with...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Feb 2011

    Running For The Exit: International Banks And Crisis Transmission

    The global financial crisis has reignited the debate about the risks of financial globalization, in particular the international transmission of financial shocks. The authors use data on individual loans by the largest international banks to their various countries of operations to examine whether banks' access to borrower information affected the...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Dec 2010

    Financial Integration And Growth - Is Emerging Europe Different?

    Using industry-level data, this paper shows that the European transition region benefited much more strongly from financial integration in terms of economic growth than other developing countries in the years preceding the current crisis. The authors analyze several factors that may explain this finding: financial development, institutional quality, trade integration,...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Dec 2010

    Institutions And Economic Performance: What Can Be Explained?

    Institutions are now widely believed to be important in explaining performance. In this paper, the authors analyse whether commonly used measures of institutions have any significant, measurable impact on performance, whether of countries or firms. They look at three 'Levels' of institutions and associated conjectures. The first concerns whether the...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Oct 2010

    Microeconomic Implications Of Credit Booms: Evidence From Emerging Europe

    While credit is essential for investment, innovation and economic growth, there are risks related to excessive indebtedness in the corporate sector in the form of increased likelihood of financial distress and bankruptcy. The recent global crisis has highlighted the macroeconomic risks of credit booms. This paper focuses on microeconomic implications...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Oct 2010

    Fostering Growth In CEE Countries: A Country-Tailored Approach To Growth Policy

    This paper analyses the long term growth experiences of the eastern European accession countries and the effect of various tailored growth policies. The authors find that there are two overarching growth-enhancing policies that can substantially increase long-term growth: competition and the quality of education. They find empirical evidence that if...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Aug 2010

    Forecasting Inflation for Transition Countries: How Accurate Are The EBRD Forecasts?

    This paper analyses the statistical properties of annual inflation forecasts prepared by the EBRD for 25 transition countries between 1994 and 2005. The empirical results show that EBRD forecasts are mostly unbiased. Late within-year forecasts are also found to be efficient. Forecast accuracy is shown to be related to four...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Jul 2010

    Cross Country Differences In Job Reallocation: The Role Of Industry, Firm Size And Regulations

    Somewhat surprisingly, cross-country empirical evidence (at least in the cross section) does not seem to support the predictions of standard models that economies with stricter regulations on hiring and firing should have a lower pace of job reallocation. One problem in exploring these issues empirically has been the difficulty of...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Jun 2010

    Nondiscrimination And Equal Opportunity: Guidance For Clients

    Discrimination may be direct or indirect and does not have to be intentional. Practices which appear neutral but result in the unequal treatment of people with certain characteristics are called indirect discrimination. For example, indirect discrimination may arise if part-time workers are targeted for retrenchment, where women are more likely...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Feb 2010

    South-Eastern Europe: Lessons From The Global Economic Crisis

    This paper shows how the crisis has evolved in South-Eastern Europe (SEE) and why this region was affected by developments that originated elsewhere. It argues that the impact has been better than many feared and that this resilience can be attributed in large part to the mature and sensible reaction...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Jan 2010

    In The Wake Of The Crisis: Dealing With Distressed Debt Across The Transition Region

    This paper reviews the origin and spread of the distressed debt problem in the transition region. The authors argue that while the crisis was triggered abroad, the current high level of distressed debt in various transition countries mainly reflects home-grown vulnerabilities. As in the West, the root causes of the...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Jan 2009

    Chinese Investment In The Transition Countries

    This paper examines the pattern and magnitude of China's outward Foreign Direct Investment (FDI) to the EBRD's countries of operations. The authors first analyze the recent trends of China's outward FDI, with sectoral and geographical distributions, and assess the implications for the transition countries. The paper then looks at the...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Jun 2010

    Nondiscrimination And Equal Opportunity: Guidance For Clients

    Discrimination may be direct or indirect and does not have to be intentional. Practices which appear neutral but result in the unequal treatment of people with certain characteristics are called indirect discrimination. For example, indirect discrimination may arise if part-time workers are targeted for retrenchment, where women are more likely...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Aug 2010

    Forecasting Inflation for Transition Countries: How Accurate Are The EBRD Forecasts?

    This paper analyses the statistical properties of annual inflation forecasts prepared by the EBRD for 25 transition countries between 1994 and 2005. The empirical results show that EBRD forecasts are mostly unbiased. Late within-year forecasts are also found to be efficient. Forecast accuracy is shown to be related to four...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Jan 2009

    Chinese Investment In The Transition Countries

    This paper examines the pattern and magnitude of China's outward Foreign Direct Investment (FDI) to the EBRD's countries of operations. The authors first analyze the recent trends of China's outward FDI, with sectoral and geographical distributions, and assess the implications for the transition countries. The paper then looks at the...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Oct 2010

    Microeconomic Implications Of Credit Booms: Evidence From Emerging Europe

    While credit is essential for investment, innovation and economic growth, there are risks related to excessive indebtedness in the corporate sector in the form of increased likelihood of financial distress and bankruptcy. The recent global crisis has highlighted the macroeconomic risks of credit booms. This paper focuses on microeconomic implications...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Dec 2010

    Financial Integration And Growth - Is Emerging Europe Different?

    Using industry-level data, this paper shows that the European transition region benefited much more strongly from financial integration in terms of economic growth than other developing countries in the years preceding the current crisis. The authors analyze several factors that may explain this finding: financial development, institutional quality, trade integration,...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Feb 2011

    Running For The Exit: International Banks And Crisis Transmission

    The global financial crisis has reignited the debate about the risks of financial globalization, in particular the international transmission of financial shocks. The authors use data on individual loans by the largest international banks to their various countries of operations to examine whether banks' access to borrower information affected the...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Jan 2010

    In The Wake Of The Crisis: Dealing With Distressed Debt Across The Transition Region

    This paper reviews the origin and spread of the distressed debt problem in the transition region. The authors argue that while the crisis was triggered abroad, the current high level of distressed debt in various transition countries mainly reflects home-grown vulnerabilities. As in the West, the root causes of the...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Mar 2011

    Region-Specific Constraints To Doing Business: Evidence From Russia

    This paper looks at variation across Russian regions in terms of perceived constraints to doing business using the Business Environment and Enterprise Performance Survey of Russian firms. The analysis identifies a number of region-specific business environment components that businesses perceive as significantly more binding constraints to their operations compared with...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Dec 2010

    Institutions And Economic Performance: What Can Be Explained?

    Institutions are now widely believed to be important in explaining performance. In this paper, the authors analyse whether commonly used measures of institutions have any significant, measurable impact on performance, whether of countries or firms. They look at three 'Levels' of institutions and associated conjectures. The first concerns whether the...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Oct 2010

    Fostering Growth In CEE Countries: A Country-Tailored Approach To Growth Policy

    This paper analyses the long term growth experiences of the eastern European accession countries and the effect of various tailored growth policies. The authors find that there are two overarching growth-enhancing policies that can substantially increase long-term growth: competition and the quality of education. They find empirical evidence that if...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Jul 2010

    Cross Country Differences In Job Reallocation: The Role Of Industry, Firm Size And Regulations

    Somewhat surprisingly, cross-country empirical evidence (at least in the cross section) does not seem to support the predictions of standard models that economies with stricter regulations on hiring and firing should have a lower pace of job reallocation. One problem in exploring these issues empirically has been the difficulty of...

    Provided By European Bank for Reconstruction and Development

  • White Papers // Feb 2010

    South-Eastern Europe: Lessons From The Global Economic Crisis

    This paper shows how the crisis has evolved in South-Eastern Europe (SEE) and why this region was affected by developments that originated elsewhere. It argues that the impact has been better than many feared and that this resilience can be attributed in large part to the mature and sensible reaction...

    Provided By European Bank for Reconstruction and Development