IRAJ HASHI is Professor of Economics and Director of the Centre for Research on Emerging Economies (CREE) at Staffordshire University Business School, UK. He has been involved in research and consultancy on industrial competitiveness, enterprise restructuring, bankruptcy and reorganisation, privatisation and corporate governance, and SME development and policy in a number of transition countries (Albania, Bosnia-Herzegovina, Czech Republic, Kosovo, Poland, Romania and Russia). His previous publications include: Enterprise Exit Processes in Transition Economies (with Leszek Balcerowicz a