Working papers

The Working Paper series has been produced to stimulate debate on the economic transformation of central and eastern Europe and the CIS. Views presented are those of the authors and not necessarily of the EBRD.

Working papers are only available electronically.

 
Title Publication date
Banking and growth: evidence from a regression discontinuity analysis
Nathaniel Young
November 2017
Soft budget constraints and state capitalism
Sergei Guriev
November 2017
The middle-income trap from a Schumpeterian perspective
Philippe Aghion and Çağatay Bircan
October 2017
Happiness convergence in transition countries
Sergei Guriev and Nikita Melnikov
September 2017
Ownership structure and productivity of multinationals
Çagatay Bircan
August 2017
Access to finance – mind the gender gap
Hanan Morsy and Hoda Youssef
July 2017
The inner workings of the board: evidence from emerging markets
Ralph De Haas, Daniel Ferreira and Tom Kirchmaier
March 2017
Firm performance and obstacles to doing business in the Western Balkans | Evidence from the BEEPS
By Ana Krešić, Jakov Milatović and Peter Sanfey
January 2017
Not so different from non-traders: trade premia in Middle East and North Africa
By David C. Francis and Helena Schweiger
January 2017
EU financing and innovation in Poland
By Dan Breznitz and Darius Ornston
January 2017
The impact of information sharing on the use of collateral versus guarantees
By Ralph De Haas and Matteo Millone
January 2017
Sexual orientation and earnings: new evidence from the UK
By Cevat Giray Aksoy, Christopher S. Carpenter and Jeff Frank
December 2016
Business environment constraints in the third decade of transition: calibrating the shadow costs of obstacles to business
By Wendy Carlin and Mark Schaffer
November 2016
Will money talk? Firm bribery and credit access
By Shusen Qi
November 2016
The economic impact of reducing non-performing loans
By Maria Balgova, Michel Nies and Alexander Plekhanov
October 2016
Short-term effects of house prices on birth rates
By Cevat Giray Aksoy
September 2016
Corporate NPL portfolios in CESEE countries: how corporate leverage and debt spillovers affect firm performance
By Jože P. Damijan
September 2016
Mining matters: natural resource extraction and local business constraints
By Ralph De Haas and Steven Poelhekke
August 2016
Microcredit contracts, risk diversification and loan take-up
By Orazio Attanasio, Britta Augsburg and Ralph De Haas
July 2016
The role of innovation and management practices in determining firm productivity in developing economies
By Wiebke Bartz, Pierre Mohnen and Helena Schweiger
June 2016
Inequality of opportunity and beliefs about success and failure
By J. Michelle Brock
May 2016
Forgive but not forget: the behaviour of relationship banks when firms are in distress
By Larissa Schäfer
March 2016
How the Western Balkans can catch up
By Peter Sanfey, Jakov Milatović and Ana Krešić
February 2016
The happiness gap in eastern Europe
By Simeon Djankov, Elena Nikolova and Jan Zilinsky
January 2016
The Great Recession and social preferences
By Ralph De Haas, Milena Djourelova and Elena Nikolova
December 2015
Self-worth versus net worth: image motivation and the quantity-quality trade-off
By J. Michelle Brock
December 2015
An anatomy of central and eastern European equity markets
By Lieven Baele, Geert Bekaert and Larissa Schäfer
December 2015
Sharing borrower information in a competitive credit market
By Jaap Bos, Ralph De Haas and Matteo Millone
May 2015
Do public fund windfalls increase corruption? Evidence from a natural disaster
By Elena Nikolova and Nikolay Marinov
May 2015
March 2015
By Florent Silve and Alexander Plekhanov
February 2015
By Adiya Belgibayeva and Alexander Plekhanov
February 2015
February 2015

How much should we trust life satisfaction data?
Evidence from the Life in Transition Survey

by Elena Nikolova and Peter Sanfey

January 2015

Determinants of frontier innovation and technology adoption: cross-country evidence
by Emil Gelebo, Alexander Plekhanov and Florent Silve

January 2015

Growing without changing: a tale of Egypt's weak productivity growth
by Hanan Morsy, Antoine Levy and Clara Sanchez

December 2014

What determines the quality of economic institutions? Cross-country evidence
by Jonathan Lehne, Jeffrey Mo and Alexander Plekhanov

November 2014

The dark and bright sides of global banking: a (somewhat) cautionary tale
from emerging Europe

by Ralph De Haas

July 2014

When arm’s length is too far : relationship banking over the business cycle
by Thorsten Beck, Hans Degryse, Ralph De Haas and Neeltje van Horen

July 2014

Corporate financial soundness and its impact on firm performance:
Implications for corporate debt restructuring in Slovenia

by Jože P. Damijan

June 2014

Diagnosing growth constraints in south-eastern Europe; The case of Serbia
by Marija Kuzmanovic and Peter Sanfey

May 2014

Optimal degree of foreign ownership under uncertainty
by Çagatay Bircan

May 2014

Giving and promising gifts: experimental evidence on reciprocity from the field
by J. Michelle Brock, Andreas Lange and Kenneth L. Leonard

January 2014

Global firms and wages: is there a rent sharing channel?
by Joze P. Damijan and Luca Marcolin

December 2013

Regional inflation and financial dollarisation
by Martin Brown, Ralph De Haas and Vladimir Sokolov

November 2013

Information effects on consumer willingness to pay for electricity
and water service attributes

by Elcin Akcura

October 2013

Mandatory versus voluntary payment for green electricity
by Elcin Akcura

October 2013

Selection and hidden bias in cross-border bank acquisitions:
Ukraine’s takeover wave

by Muzaffarjon Ahunov, Leo Van Hove and Marc Jegers

October 2013

How important are non-tariff barriers? Complementarity of
infrastructure and institutions of trading partners

by Zsoka Koczan and Alexander Plekhanov

July 2013

Does cultural diversity help or hinder entrepreneurs?
Evidence from eastern Europe and central Asia

by Elena Nikolova and Dora Simroth

June 2013

Foreign direct investment and wages: does the level of ownership matter?
by Cagatay Bircan

May 2013

Migration from Ukraine: Brawn or Brain? New Survey Evidence
by Simon Commander, Olexandr Nikolaychuk and Dmytro Vikhrov

April 2013

Improving regional performance in Russia: a capability-based approach
by Fadi Farra, Nadia Klos, Uwe Schober, Olga Sigalova and Alexander Zhukov

January 2013

How much do tariffs matter? Evidence from the customs union of Belarus,
Kazakhstan and Russia

by Asel Isakova, Zsoka Koczan and Alexander Plekhanov

January 2013

The right-wing power of small countries
by Franto Ricka

December 2012

The impact of armed conflict on firms’ performance and perceptions
by Carly Petracco and Helena Schweiger

December 2012

Can consumer confidence data predict real variables? Evidence from Croatia
by Marija Kuzmanović and Peter Sanfey

November 2012
The interest group theory of financial development: evidence from regulation
by Cagatay Bircan, David Hauner and Alessandro Prati
November 2012
Innocent bystanders: how foreign uncertainty shocks harm exporters
by Daria Taglioni and Veronika Zavacka
October 2012
The bullwhip effect and the Great Trade Collapse
by Veronika Zavacka
October 2012
Generosity norms and intrinsic motivation in health care provision:
evidence from the laboratory and the field

by Michelle Brock, Andreas Lange and Kenneth L. Leonard
October 2012
Microfinance at the margin: experimental evidence from Bosnia and Herzegovina
by Britta Augsburg, Ralph de Haas, Heike Harmgart and Costas Meghir
September 2012
Making sense of competitiveness indicators in south-eastern Europe
by Peter Sanfey and Simone Zeh
July 2012
Management quality, firm performance and market pressure in Russia
by Guido Friebel and Helena Schweiger
May 2012
Foreign banks and the Vienna Initiative: turning sinners into saints
by Ralph De Haas, Yevgeniya Korniyenko, Elena Loukoianova
and Alexander Pivovarsky
March 2012
International shock transmission after the Lehman Brothers collapse –
evidence from syndicated lending

by Ralph De Haas and Neeltje Van Horen
March 2012
Entrepreneurship in the transition region: an analysis based on the
Life in Transition Survey

by Elena Nikolova, Frantisek Ricka and Dora Simroth
March 2012
Learning, political attitudes and the crisis in transition countries
by Pauline Grosjean, Frantisek Ricka and Claudia Senik
January 2012
Dictating the risk – experimental evidence on giving in risky environments
by J. Michelle Brock, Andreas Lange and Erkut Y. Ozbay
January 2012
Managing Mongolia's resource boom
by Asel Isakova, Alexander Plekhanov and Jeromin Zettelmeyer
January 2012
Forecasting growth in eastern Europe and central Asia
by Franziska Ohnsorge and Yevgeniya Korniyenko
December 2011
Group lending or individual lending? Evidence from a
randomised field experiment in Mongolia

by Orazio Attanasio, Britta Augsburg, Ralph De Haas,
Emla Fitzsimons and Heike Harmgart
December 2011
Multinational banks and the global financial crisis: weathering the perfect storm?
by Ralph de Haas and Iman Van Lelyveld
December 2011
Labour markets and representative institutions: evidence from colonial British America
by Elena Nikolova
October 2011
What makes growth sustained?
by Andrew Berg, Jonathan D. Ostry and Jeromin Zettelmeyer
October 2011
Basel III and regional financial integration in emerging Europe:
an overview of key issues

by Alexander Lehmann, Micol Levi and Peter Tabak
July 2011
The land that Lean manufacturing forgot? Management practices
in transition countries

by Nicholas Bloom, Helena Schweiger and John Van Reenen
June 2011
Employment concentration and resource allocation: one-company towns in Russia
by Simon Commander, Zlatko Nikoloski and Alexander Plekhanov
June 2011
Performance of domestic and cross-border acquisitions:
empirical evidence from Russian acquirers

by Olivier Bertrand and Marie-Ann Betschinger
June 2011
Unequal effects of liberalisation on diversification of Russia’s regions
by Evgeny Yakovlev and Ekaterina Zhuravskaya
June 2011
The impact of state aid for restructuring on the allocation of resources
by Helena Schweiger
May 2011
Economic transition, firm organisation and internal control:
determinants of audit structure in Russian firms

by Ichiro Iwasaki
May 2011
Region-specific constraints to doing business: evidence from Russia
by Alexander Plekhanov and Asel Isakova
March 2011
Running for the exit: international banks and crisis transmission
by Ralph De Haas and Neeltje Van Horen
February 2011
Financial integration and growth - Is emerging Europe different?
by Christian Friedrich, Isabel Schnabel and Jeromin Zettelmeyer
December 2010
Foreign currency lending in emerging Europe: bank-level evidence
by Martin Brown and Ralph De Haas
December 2010
Institutions and economic performance: What can be explained?
by Simon Commander and Zlatko Nikoloski
December 2010
Euroisation in Serbia
by Alexandre Chailloux, Franziska Ohnsorge and David Vavra
November 2010
Microeconomic implications of credit booms: evidence from emerging Europe
by Fabrizio Coricelli, Nigel Driffield, Sarmistha Pal and Isabelle Roland
October 2010
Fostering growth in CEE countries: a country-tailored approach to growth policy
by Philippe Aghion, Heike Harmgart and Natalia Weisshaar
October 2010
The crisis as a wake-up call: do banks tighten screening and
monitoring during a financial crisis?

by Ralph de Haas and Neeltje van Horen
August 2010
Cross country differences in job reallocation: the
role of industry, firm size and regulations

by John Haltiwanger, Stefano Scarpetta and Helena Schweiger
July 2010
Addressing private sector currency mismatches in emerging Europe
by Jeromin Zettelmeyer, Piroska M. Nagy and Stephen Jeffrey
June 2010
Earnings inequality and the informal economy: evidence from Serbia
by Peter Sanfey and Gorana Krstic
March 2010
South-eastern Europe: lessons from the global economic crisis
by Peter Sanfrey
February 2010
In the wake of the crisis: dealing with distressed debt across the transition region
by Ralph De Haas and Stephan Knobloch
February 2010
Fiscal decentralisation and the quality of public services in Russian regions
by Alexander Plekhanov and Lev Freinkman
February 2010
Monitoring managers: does it matter?
by Francesca Cornelli, Zbigniew Kominek and Alexander Ljungqvist
January 2010
Understanding the crisis in emerging Europe
Erik Berglöf, Yevgeniya Korniyenko, Alexander Plekhanov and Jeromin Zettelmeyer
December 2009
Development based on commodity revenues
by Alexander Plekhanov, Sergei Guriev and Konstantin Sonin
December 2009
Chinese investment in the transition countries
by Yevgeniya Korniyenko and Toshiaki Sakatsume
February 2009
The determinants of performance in building infrastructure in transition economies
by Gabriela Dobrescu, Guido Friebel, Pauline Grosjean and Katrin Robeck
June 2008
Internal capital markets and lending by multinational bank subsidiaries
by Ralph De Haas and Iman Van Lelyveld
February 2008
What determines banks’ customer choice? Evidence from transition countries
by Ralph De Haas, Daniel Ferreira and Anita Taci
November 2007
Should market liberalisation precede democracy?
Causal relations between political preferences and development

by Pauline Grosjean and Claudia Senik
August 2007
Business environment and enterprise behaviour in
East Germany compared to West Germany and central Europe

by Libor Krkoska and Katrin Robeck
June 2007
Mobility, poverty and well-being among the informally employed in
Bosnia and Herzegovina

by Gorana Krstic and Peter Sanfey
January 2007
Does enterprise-level training compensate for poor country-level skills?
by Joe Colombano and Libor Krkoska
December 2006
Ageing, pension reforms and capital market development in transition countries
by Christiane Nickel and Johan Almenberg
December 2006
Forecasting inflation for transition countries: How accurate are the EBRD forecasts?
by Libor Krkoska and Utku Teksoz
September 2006
The impact of crime on the enterprise sector: Transition versus non-transition countries
by Libor Krkoska and Katrin Robeck
July 2006
Regulatory induced herding? Evidence from Polish pension funds
by Zbigniew Kominek
June 2006
Beyond borders: Reconsidering regional trade in Central Asia
by Clemens Grafe, Martin Raiser and Toshiaki Sakatsume
March 2006
Accuracy of growth forecasts for transition countries:
Assessing ten years of EBRD forecasting

by Libor Krkoska and Utku Teksoz
December 2005
Filling the gap in urban transport: Private sector participation in
transition countries

by Zbigniew Kominek
December 2005
Can poor consumers pay for energy and water?
by Samuel Fankhauser and Sladjana Tepic
August 2005
Does transition make you happy?
by Peter Sanfey and Utku Teksoz
June 2005
Reforms and growth in transition: re-examining the evidence
by Elisabetta Falcetti, Tatiana Lysenko and Peter Sanfey
June 2005
European financial integration and the financing of local
businesses in the new EU member states

by Ulrich Volz
October 2004
Inflation, exchange rates and the role of monetary policy in Albania
by Marta Muço and Peter Sanfey
September 2004
The dynamic adjustment towards target capital structures of firms in
transition economies

by Ralph de Haas and Marga Peeters
July 2004
Cost efficiency of banks in transition: Evidence from 289 banks in
15 post-communist countries

by Steven Fries and Anita Taci
April 2004
Anti-corruption programmes in post-communist transition countries and
changes in the business environment, 1999-2002

by Franklin Steves and Alan Rousso
November 2003
The 2002 Business Environment and Enterprise Performance Survey:
Results from a survey of 6,100 firms

by Steven Fries, Tatiana Lysenko and Saso Polanec
November 2003
Transition and international integration in eastern Europe and the former Soviet Union
by Ian Babetskii, Oxana Babetskaia-Kukharchuk and Martin Raiser
November 2003
Trust in transition: cross-country and firm evidence
by Martin Raiser, Alan Rousso and Franklin Steves
October 2003
Stock markets and industry growth: an eastern European perspective
by Zbigniew Kominek
October 2003
Bridging the gaps? Private sector development, capital flows
and the investment climate in south-eastern Europe

by Elisabetta Falcetti, Peter Sanfey and Anita Taci
June 2003
by Martin Raiser, Mark Schaffer and Johannes Schuchhardt
February 2003
Power sector regulatory reform in transition economies:
Progress and lessons learned

by David Kennedy
February 2003
The investment climate for climate investment:
Joint Implementation in transition countries

by Samuel Fankhauser and Lucia Lavric
January 2003
Bank performance in transition economies
by Steven Fries, Damien Neven and Paul Seabright
November 2002
Contracting in transition economy municipal projects
by David Kennedy
September 2002
What should the multilateral development banks do?
by Willem Buiter and Steven Fries
June 2002
Capital flight and capital outflows from Russia: symptom, cause and cure
by Willem H. Buiter and Ivan Szegvari
June 2002
The energy intensity of transition countries
by Jan Cornillie and Samuel Fankhauser
June 2002
Banking reform and development in transition economies
by Steven Fries and Anita Taci
June 2002
Ownership and corporate governance in Russian industry: a survey
by Carsten Sprenger
January 2002
Liberalisation of the Russian power sector
by David Kennedy
January 2002
Competition across transition economies:
an enterprise-level analysis of the main policy and structural determinants

by Maria Vagliasindi
December 2001
by Libor Krkoska
December 2001

Nature’s blessing or nature’s curse:
the political economy of transition in resource-based economies
by Akram Esanov, Martin Raiser and Willem Buiter

November 2001
by Mark Dutz, Celine Kauffmann, Serineh Najarian, Peter Sanfey and Ruslan Yemtsov
November 2001
Competition and enterprise performance in transition economies: evidence from
a cross-country survey

by Wendy Carlin, Steven Fries, Mark Schaffer and Paul Seabright
June 2001
Financial structures to promote private sector development in south-eastern Europe
by Francesca Pissarides
June 2001
by Mark E. Schaffer and Gerard Turley
May 2001
The Measurements and Determinants of Institutional Change:
Evidence from Transition Economies

by Martin Raiser, Maria L. Di Tommaso and Melvyn Weeks
February 2001
Social capital in transition: a first look at the evidence
by Martin Raiser, Christian Haerpfer, Thomas Nowotny and Claire Wallace
February 2001
Objectives and constraints of entrepreneurs:
evidence from small and medium-sized enterprises in Russia and Bulgaria

by Francesca Pissarides, Miroslav Singer and Jan Svejnar
November 2000
Intervention, corruption and capture: the nexus between enterprises and the state
by Joel Hellman and Mark Schankerman
October 2000
An analytical framework for evaluating transition impact of infrastructure projects
by Philippe Aghion & Mark Schankerman
October 2000
Ten years after: what is special about transition countries?
by Daniel Gros and Marc Suhrcke
August 2000
Defying the odds: initial conditions, reforms and growth in the first decade of transition
by Elisabetta Falcetti, Martin Raiser and Peter Sanfey
July 2000
Taxes, competition and finance for Albanian enterprises: evidence from a field study
by Holger Muent, Francesca Pissarides and Peter Sanfey
July 2000
Regulatory reform and market development in power sectors of transition economies:
the case of Kazakhstan

by David Kennedy
June 2000
Assessing macroeconomic vulnerability in central Europe
by Libor Krkoska
June 2000
Measuring governance and state capture:
the role of bureaucrats and firms in shaping the business environment

by Joel S. Hellman, Geraint Jones, Daniel Kaufmann and Mark Schankerman
June 2000
Barter and non-monetary transactions in
transition economies: Evidence from a cross-country survey

by Wendy Carlin, Steven Fries, Mark Schaffer and Paul Seabr
June 2000
by Katharina Pistor
May 2000
by Katharina Pistor, Martin Raiser and Stanislav Gelfer
February 2000