Front Cover -- Neo-Transitional Economics -- Copyright page -- Acknowledgment (Dedication) -- Contents -- List of Contributors -- Part I: General Transition -- Introduction to Neo-Transitional Economics -- The Importance of Transition Studies and of the Region -- From Transition Economies and Transition Economics to Neo-Transitional Economics -- Transition versus Emerging Economies -- Transition Economics: The Classical Story -- Neo-Transitional Economics: New Challenges in a New Paradigm -- Governance and Social Order -- Macroeconomic Policy -- Monetary Policy -- Banking and Finance -- International Exposure -- Summary -- Bibliography -- Neo-Transitional Economies: The Broad Context -- Introduction and Outline -- Professional Background -- An Economic System with Universal Features? -- Relationship between Economic and Political Systems Transformation -- From Transition to Neo-Transition: A Progress Report -- Terminology -- China's Economic Growth and Development Model -- Key Determining Factors in Sustainable Economic Development for Any Country -- Geography -- Institutions -- Culture -- Historical Events and Experiences -- Summary and Conclusions -- Notes -- Acknowledgement -- References -- Development and Transition in Serbia: Economic Aspects -- Introduction -- Economic Development and Technical Progress -- The Concept and Theoretical Foundations of Economic Transition -- Main Directions of Economic Development in Serbia -- Transition and 'Neo-Transition' -- Economic Policy Issues -- Economic Growth and Efficiency -- Investment, External Conditions and the Globalisation Effect -- Serbia and Regional Cooperation in South-East Europe -- Conclusion -- Notes -- References -- Appendix -- Variables -- Note -- Data Sources -- Further Reading -- Part II: Institutions and Governance.

Regulatory Evolution, Multinational Firms, and Neo-Transition Economies -- Institutional Voids Matter … -- Reflecting Two Decades after Transition Begun … -- More on Institutional Voids -- Market Strategies, Institutions, and Transition -- Competitive Advantage, Best Practice, and Regulatory Convergence -- Nonmarket Strategies, Institutions, and Transition -- Conclusions and Implications for Understanding the Transition Paradigm -- Notes -- References -- The Neo-Transitional Paradox: Restrictive Capital Regulations, Authoritarian State and Limited Welfare Type of Capitalism Examined in International Context -- Introduction -- Neo-Transitional Economies at a Glance: Restrictive Capital and Trade Regulations, Limited Degree of Tax Redistribution and Low Social Cohesion Support -- Theoretical Frameworks for Explaining the Neo-Transitional Outcomes -- World System Theory -- Commodity Chains and Global Capital -- Varieties of Capitalism -- Industrialisation and Path Dependence: Bringing the Labour Back in -- The 'Resource Curse' and Authoritarian States in the CIS -- Conclusions -- Notes -- Acknowledgements -- References -- Appendix A -- Appendix B -- The Role of Corporate Governance in a Transitional Economy -- Introduction -- Data and Research Method -- Data -- Ownership Concentration (Agency Cost) -- Board Size -- Chairman and Chief Executive Officer Duality -- Return on Total Assets -- Price-to-Book Value Ratio -- Market Capitalization -- Tobin's Q -- Correlations -- Regression Results and Discussion of Results -- Incremental Regressions -- Conclusion -- Acknowledgments -- References -- Post-Soviet Transition: The Impact of Russian Influence on Institutions -- Introduction -- Convergence in the Post-Soviet Space -- Institutions and Growth -- Determinants of Institutional Strength -- Modelling Institutional Strength -- Identification Strategy.

Results -- Issues and Conclusion -- References -- Part III: Financial Sector Development -- Lending Rate Pass-through and Bank Heterogeneity in a High Interest Rate Environment: Evidence from Azerbaijan -- Introduction -- The Lending Rate Pass-through -- The Azerbaijani Financial Sector -- Model Specification and Data Description -- Empirical Results -- Concluding Remarks -- Notes -- Acknowledgments -- References -- The Influence of Macroeconomic Risks on Credit Risk in the Serbian Banks' Loan Portfolio -- Introduction -- A Brief Comparison of Literature -- Serbia's Macroeconomy and Banking Sector -- Empirical Approach and Results -- Econometric Specification -- Data Description -- Empirical Results -- Concluding Remarks and Policy Recommendations -- References -- Appendix: Variable Definitions and Regression Results -- Does Regulatory Environment affect Earnings Management in Transitional Economies? An Empirical Examination of the Financial Reporting Quality of Cross-Listed Firms of China and Hong Kong -- Introduction -- Theoretical Framework: The Contingency Theory -- Earnings Management and Financial Reporting -- Research Questions -- Methodology -- Sample Selection -- Research Design -- Hypotheses Development -- Discussion of Results -- Descriptive Results -- Empirical Results -- Sensitivity Analyses - Real versus Accrual-Based Earnings Management -- Further Robust Check -- Difference-in-Difference Analysis -- Conclusion -- Notes -- Acknowledgements -- References -- Part IV: Fiscal Policy and Debt Management -- Debt Sustainability Analysis for Emerging and Developing Markets: An Application on Transition Countries -- Introduction -- The Analytical Framework -- Fiscal Sustainability -- Constant Discount Rate -- Time-Varying Discount Rate -- An Application on Transition Countries -- Conclusion -- Notes -- References.

Twin Deficits in European Transition Economies -- Introduction -- Overview of Main Trends in Twin Deficits -- Overview of Literature -- Large Changes in Fiscal Policy and External Balances (Event Study) -- Methodological Notes to Large Changes in CAPB and Current Account -- Cyclically Adjusted Primary Balance -- Income Elasticity of Budgetary Categories -- Episodes of Large Current Account and Fiscal Changes -- Conclusion -- Notes -- Acknowledgment -- References -- Part V: International Trade and Economic Integration -- Estimating Remittances in the Former Soviet Union: Methodological Complexities and Potential Solutions -- Introduction -- The Institutional Setting for Remittances in the Post-Soviet Region -- Review of Remittances Measurement Methodologies -- Remittances and Remittance Transfer Channels in the Former Soviet Union -- Estimation Methods -- The Adjustment Methodology and Its Application to Remittances in the Former Soviet Republics -- Conclusion -- Notes -- References -- No Convergence in the Central Eastern European New Member States: A Multi Indicator Analysis -- Employment -- Incomes -- Distribution of Incomes -- Productivity Divergence as a Basis for Wage Divergence -- Notes -- References -- About the Editors -- About the Authors.