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...

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...