Economic Systems is a refereed journal for the analysis of the causes and consequences of the significant institutional variety prevailing among all developed, developing, emerging, and transition economies, as well as attempts at and proposals for their reform. The journal is open to contributions from micro and macroeconomics, both theoretical and empirical. Empirical texts analyzing related topics against the background of country- or region-specific experiences are particularly welcome. The journal particularly seeks to depict new directions within the field of comparative economics—decades of development and transition experience in many countries have clearly demonstrated the importance of institutions and institutional change for the functioning of markets and the ways in which policies influence economic activity in general, and economic growth in particular. However, we believe that institutional development is only one of many important factors affecting domestic and global economies. Economic Systems thus strongly encourages submissions from all other fields, covering, but not limited to, a variety of aspects of financial and economic systems and development, including private and state banking; goods and services and financial markets; macro and micro policies and their effects; and global trade issues and exchange rate systems in all developed, developing, emerging, and transition economies. We are particularly interested in empirical papers with significant policy implications.