The objective of this paper is to assess if inflation targeting post-communist economies performed better, in terms of output growth, during the crisis than their non-inflation targeting counterparts. The paper also puts the issue in the context of the preconditions of inflation targeters to adopt this regime. 26 post-communist economies of Central and Eastern Europe and the Commonwealth of Independent States are analyzed during the ongoing economic crisis. Results suggest that inflation targeters of those countries performed worse than non-inflation targeters. The growth decline in inflation targeters postcommunist economies has been estimated to be deeper by about four percentage points than that in non-inflation targeters. The study finds very limited role of the preconditions for growth decline. Only the lower amount of monetary financing of the budget may have contributed in inflation-targeting countries to have gone through the crisis better.

Understanding the evolution and growing importance of firms in post-communist countries is a critical new research direction for the study of communist and post-communist economies. In light of this, the primary purpose of this study is to identify the conditions necessary for the internationalization of enterprises from post-communist Slovenia, based on the responses of 298 firms currently engaged in the export of Slovenian products. The study supports the idea that many of the conditions necessary for international expansion of the firms are also applicable to firms from the post-communist economy, that is Slovenia. Environmental factors, including economic stability and cultural similarity, firm size and experience, stable markets, management strategies and other country-specific factors, were found to have significant influences on the participation of post-communist firms in the global economy. Environmental factors, including economic stability and cultural similarity, were found to be the most important in the factor analysis. Firm size and experience also exerted an influence on the internationalization of post-communist Slovenian firms. However, stable markets were found to be more important than firm size or management strategies at this point in time. Slovenia’s small size, its former command economy, and other country-specific factors, were also found to have significant influences for the firms involved in this study.