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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.

Suggested Citation

  • Robert Feinberg & Mieke Meurs, 2005. "Market Reform, Infrastructure and Exchange Rate Passthrough in Central and Eastern Europe," Post-Communist Economies, Taylor & Francis Journals, vol. 17(1), pages 21-32.
    • Handle: RePEc:taf:pocoec:v:17:y:2005:i:1:p:21-32
    DOI: 10.1080/14631370500052456
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    References listed on IDEAS

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    1. Wendy Carlin & Steven Fries & Mark Schaffer & Paul Seabright, 2001. "Competition and Enterprise Performance in Transition Economies from a Cross-Country Survey," CERT Discussion Papers 0101, Centre for Economic Reform and Transformation, Heriot Watt University.
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    3. Brown, J David & Earle, John, 2001. "Competition Enhancing Policies and Infrastructure: Evidence from Russia," CEPR Discussion Papers 3022, C.E.P.R. Discussion Papers.
    4. Feinberg, Robert M, 1991. "The Choice of Exchange-Rate Index and Domestic Price Passthrough," Journal of Industrial Economics, Wiley Blackwell, vol. 39(4), pages 409-420, June.
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    7. Robert M. Feinberg, 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 126-133, February.
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    10. Manuela Angelucci & Saul Estrin & Jozef Konings & Zbigniew Zolkiewski, 2002. "The Effect of Ownership and Competitive Pressure on Firm Performance in Transition Countries: Micro Evidence from Bulgaria, Romania and Poland," William Davidson Institute Working Papers Series 434, William Davidson Institute at the University of Michigan.
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    Cited by:

    1. Sardor Tadjiev & Pierre-Yves Donze, 2021. "The Development of the Automotive Industry in Post-Soviet Countries since 1991," Eurasian Journal of Business and Management, Eurasian Publications, vol. 9(2), pages 164-183.
    2. Xuxin Yu, 2007. "The Industry Determinants of Exchange Rate Pass-Through to Chinese Domestic Prices, 1980-2002," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 14(3), pages 393-408.

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