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Market Reform, Infrastructure and Exchange Rate Passthrough in Central and Eastern Europe

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  • Robert Feinberg
  • Mieke Meurs

Abstract

The economic liberalisation which has occurred in Central and Eastern Europe (CEE) over the past 15 years has aimed at integrating markets into the global economy and realising the benefits of competition. This article examines a three-way pooled sample of annual data for 13 industry sectors in five CEE countries to explore the determinants of real exchange rate effects on domestic prices. Changes in the sensitivity of domestic markets to international shocks, as reflected in these exchange rate effects, may be viewed as a proxy for competitive pressures in these markets. We find that market reforms have played an important role in integrating a country's markets into the global economy, with a lesser impact of infrastructure development.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/14631370500052456
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Post-Communist Economies.

Volume (Year): 17 (2005)
Issue (Month): 1 ()
Pages: 21-32

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Handle: RePEc:taf:pocoec:v:17:y:2005:i:1:p:21-32

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  1. Brown, J David & Earle, John S, 2001. "Competition Enhancing Policies and Infrastructure: Evidence from Russia," CEPR Discussion Papers 3022, C.E.P.R. Discussion Papers.
  2. Saul Estrin & Jozef Konings & Zbigniew Zolkiewski & Manuela Angelucci, 2001. "The Effect of Ownership and Competitive Pressure on Firm Performance in Transition Countries. Micro Evidence from Bulgaria, Romania and Poland," LICOS Discussion Papers 10401, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
  3. Wendy Carlin & Steven Fries & Mark Schaffer & Paul Seabright, 2001. "Competition and enterprise performance in transition economies: evidence from a cross-country survey," Working Papers 63, European Bank for Reconstruction and Development, Office of the Chief Economist.
  4. Feinberg, Robert M, 2000. "The Role of International Discipline in Three Developing Economies: Exchange Rate Effects on Domestic Prices in Colombia, Korea, and Morocco," Review of International Economics, Wiley Blackwell, vol. 8(1), pages 126-33, February.
  5. Feinberg, Robert M, 1991. "The Choice of Exchange-Rate Index and Domestic Price Passthrough," Journal of Industrial Economics, Wiley Blackwell, vol. 39(4), pages 409-20, June.
  6. Djankov, Simeon, 1999. "Ownership structure and enterprise restructuring in six newly independent states," Policy Research Working Paper Series 2047, The World Bank.
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