Since the seminal work of Adam Smith, markets have been considered an efficient tool for co-ordinating the behaviour of economic agents. The basic characteristic of a market economy is that the complex system of interaction among individuals is not centrally coordinated. Under the assumption of...

Land reform and farm restructuring have always been a major component of the transition from plan to market in all formerly socialist countries, and especially in the 12 former Soviet republics forming the Commonwealth of Independent States (CIS). Ukraine, the second most populous country in CIS...

Although interest in the structure and relational features of social capital and its underlying networks has grown since the early 1990s, the terms do not embody any ideas that are really new to sociologists, but are indeed rather new to economists. Until the 1950s, land, labour, and financial...

During the transition of the Vietnamese economy, adaptation of the financial system was one of the most challenging reforms. A major task of this reform was to expand the financial systemâs outreach to the newly emerging private sector and household economies, especially in rural areas....

Over fifteen years have elapsed since the transition from the centrally planned economic system started in the early 1990âs. During this time agricultural and rural areas of Central and Eastern Europe have undergone profound structural changes with wide variations in the degree of...