The rebirth of competition and the extensive "exit" that has resulted are among the most important developments in Central Europe since the demise of Communism. This text examines why, how, and to what extent enterprises have reduced their size or left the market altogether during the first years of the transition from socialism to capitalism in the Czech Republic, Hungary and Poland.

In this, the first of three volumes to be published by the CEU Press on corporate governance in Central Europe and Russia, distinguished economists, legal scholars, political scientists and sociologists examine the emerging institutions of corporate governance in privatized firms in transition economies. They investigate the role of banks, investment funds, and pension funds, as well as the role and impact of residual state ownership. Each paper combines experience from advanced market economies with in-country empirical work in transition settings. Together these papers represent the most comprehensive and up-to-date comparative analysis yet undertaken of privatization struggles and their impact on corporate governance in Central Europe and Russia.

In this, the second of three volumes to be published by the CEU Press on corporate governance in Central Europe and Russia, distinguished economists, legal scholars, political scientists and sociologists examine the emerging institutions of corporate governance in privatized firms in transition economies. They look at the nature of control exercised by insiders in Central and Eastern European firms and the emergence of indigenous corporate governance institutions. The volume also addresses the role of foreign investors and the many issues involved in the design of corporate and securities law. Each paper combines experience from advanced market economies with in-country empirical work in transition settings. Together these papers represent the most comprehensive and up-to-date comparative analysis yet undertaken of privatization struggles and their impact on corporate governance in Central Europe and Russia.

Controlling corruption is an essential part of good governance and poverty reduction, and it poses an enormous challenge for governments all around the world. Anticorruption in Transition 2 analyzes patterns and trends in corruption in business-government interactions in the transition economies of Central and Eastern Europe and the former Soviet Union. It points to some encouraging signs that the magnitude and negative impact that corruption exerts on businesses may be declining in many countries in the region. It also shows how some types of firms - most notably small private ones - encounter more corruption than others, and it underscores the importance of policy and institutional reforms in achieving long-term success in the fight against corruption. The longer-term sustainability of recent improvements is not certain, however, and the challenges ahead remain formidable.