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... of the former Soviet Union. Turning to the transition countries of Central and Eastern Europe for 1990–93 and including the Johnson et. al. Figures, Hungary has the largest shadow economy with 30.7 percent of GDP followed by Bulgaria with 26.3 percent. The lowest two are the Czech Republic with 13.4 ...
... of the former Soviet Union. Turning to the transition countries of Central and Eastern Europe for 1990–93 and including the Johnson et. al. Figures, Hungary has the largest shadow economy with 30.7 percent of GDP followed by Bulgaria with 26.3 percent. The lowest two are the Czech Republic with 13.4 ...
SHOCK THERAPY VERSUS GRADUALISM RECONSIDERED
... • Differing performance of the former Soviet Union (FSU) states: • Baltic states are the champions of liberalization and stabilization in the region. In the Baltics, however, output fell in the early 1990s by 36-60% and even in 2005, 10 years after the bottom of the recession was reached, was still ...
... • Differing performance of the former Soviet Union (FSU) states: • Baltic states are the champions of liberalization and stabilization in the region. In the Baltics, however, output fell in the early 1990s by 36-60% and even in 2005, 10 years after the bottom of the recession was reached, was still ...
Labour market institutions and labour market performance
... large heterogeneity in labour market outcomes even in the presence of very similar labour market institutions. The explanation for this large heterogeneity is often tied to the complementary nature of the interaction of labour market institutions when institutions are simultaneously liberalized (see ...
... large heterogeneity in labour market outcomes even in the presence of very similar labour market institutions. The explanation for this large heterogeneity is often tied to the complementary nature of the interaction of labour market institutions when institutions are simultaneously liberalized (see ...
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... of assets can have certain common effects on specific population groups and can contribute to the risk of becoming food insecure. Increasing unemployment and manner of asset distribution have contributed to another feature typical of the transition countries: rising inequality. The former socialist ...
... of assets can have certain common effects on specific population groups and can contribute to the risk of becoming food insecure. Increasing unemployment and manner of asset distribution have contributed to another feature typical of the transition countries: rising inequality. The former socialist ...
Lessons from High Inflation Episodes for Stabilizing the
... (e.g., in Angola and Bulgaria). Enforcing greater discipline on state-owned enterprises through hard budget constraints was therefore an important step in reducing the public financing requirement. ...
... (e.g., in Angola and Bulgaria). Enforcing greater discipline on state-owned enterprises through hard budget constraints was therefore an important step in reducing the public financing requirement. ...
Adjustment and growth prospects of the developed economies
... and uneven. Some of these economies, such as the United States, have returned to growth rates close to pre-crisis levels; others, including some in the euro area, continue to post growth rates far below those achieved in the previous upswing, and have even suffered fresh setbacks. As a result, GDP l ...
... and uneven. Some of these economies, such as the United States, have returned to growth rates close to pre-crisis levels; others, including some in the euro area, continue to post growth rates far below those achieved in the previous upswing, and have even suffered fresh setbacks. As a result, GDP l ...
Inflation Targeting in Emerging Market Economies
... 1) For the calculation of the shock, the effect of inertia and exchange rate on regulated-price inflation is deducted. 2) The inertia to be fought in the following years corresponds to 2/3 of the inertia inherited from the previous year. ...
... 1) For the calculation of the shock, the effect of inertia and exchange rate on regulated-price inflation is deducted. 2) The inertia to be fought in the following years corresponds to 2/3 of the inertia inherited from the previous year. ...
Why Economies Grow?
... In studying the economic history of England before the Industrial Revolution, Professor Clark discovered an interesting fact. ▪ He found that children of the more affluent members of English society were more likely to survive than those of the less affluent. ▪ With the slow growth of population ove ...
... In studying the economic history of England before the Industrial Revolution, Professor Clark discovered an interesting fact. ▪ He found that children of the more affluent members of English society were more likely to survive than those of the less affluent. ▪ With the slow growth of population ove ...
DIVERGENT INFLATION RATES BETWEEN MEMBERS OF THE EURO B
... under the Single European act and furthered by EMU will lead to a converging structure in production resulting in the convergence of sector patterns, increased intra-industry trade 15 and shocks being predominantly symmetric resulting in symmetric effects. While these consequences of trade integrati ...
... under the Single European act and furthered by EMU will lead to a converging structure in production resulting in the convergence of sector patterns, increased intra-industry trade 15 and shocks being predominantly symmetric resulting in symmetric effects. While these consequences of trade integrati ...
This PDF is a selection from a published volume from... of Economic Research
... try to explain the transition from high- fertility no- growth Malthusian equilibrium to low- fertility sustained- growth modern growth equilibrium (e.g., Becker, Murphy, and Tamura 1990; Tamura 1996; Lucas 2002). According to these theories, the transition from no- growth equilibrium to sustained gr ...
... try to explain the transition from high- fertility no- growth Malthusian equilibrium to low- fertility sustained- growth modern growth equilibrium (e.g., Becker, Murphy, and Tamura 1990; Tamura 1996; Lucas 2002). According to these theories, the transition from no- growth equilibrium to sustained gr ...
Global inflation: how big a threat?
... pressure on oil and commodity prices lies in the strength of demand across the global economy, and in particular the contribution to demand from resource-hungry developing countries and emerging markets. If global demand continues to grow strongly relative to supply, we should expect continuing high ...
... pressure on oil and commodity prices lies in the strength of demand across the global economy, and in particular the contribution to demand from resource-hungry developing countries and emerging markets. If global demand continues to grow strongly relative to supply, we should expect continuing high ...
Africa Rising: Harnessing the Demographic Dividend
... 2010 can expect to benefit from a demographic dividend (beyond the growth that would occur with an unchanged demographic structure) of about US$1,350 by 2100. The resulting GDP per capita of US$3,865 is higher by about 56 percent compared with a scenario of an unchanged share of working age populati ...
... 2010 can expect to benefit from a demographic dividend (beyond the growth that would occur with an unchanged demographic structure) of about US$1,350 by 2100. The resulting GDP per capita of US$3,865 is higher by about 56 percent compared with a scenario of an unchanged share of working age populati ...
Statistical Appendix
... framework discussed during the Sixth Review of the Stand-By Arrangement. The IMF staff assumes measures will be undertaken in addition to those outlined by the authorities for 2011–15: in 2011, 1¾ percent of GDP, to achieve a fiscal target of 2.8 percent of GDP and in the medium term to ensure fisca ...
... framework discussed during the Sixth Review of the Stand-By Arrangement. The IMF staff assumes measures will be undertaken in addition to those outlined by the authorities for 2011–15: in 2011, 1¾ percent of GDP, to achieve a fiscal target of 2.8 percent of GDP and in the medium term to ensure fisca ...
Introduction
... agreements signed during the early and mid-1990s, formal trade barriers in the EU to imports of industrial products have now been completely dismantled. A similar situation exists in the CEECs (a notable exception to this is agricultural produce where abolition is reserved until full membership). Wh ...
... agreements signed during the early and mid-1990s, formal trade barriers in the EU to imports of industrial products have now been completely dismantled. A similar situation exists in the CEECs (a notable exception to this is agricultural produce where abolition is reserved until full membership). Wh ...
Resumen - Universidad Complutense de Madrid
... economies 1 into globalization. From this point of view, all developing countries are also, to some extent, "in transition" towards their integration into globalization. But this integration is uneven according to the level of economic development of each country, reminding us that we are witnessing ...
... economies 1 into globalization. From this point of view, all developing countries are also, to some extent, "in transition" towards their integration into globalization. But this integration is uneven according to the level of economic development of each country, reminding us that we are witnessing ...
Preliminary Economics
... government believed that it was more efficient for these decisions to be made by the government (although this has changed in more recent years), and in Zimbabwe the government has moved to claim more and more of the available resources. 2. Legal Framework: If a person is going to own property, then ...
... government believed that it was more efficient for these decisions to be made by the government (although this has changed in more recent years), and in Zimbabwe the government has moved to claim more and more of the available resources. 2. Legal Framework: If a person is going to own property, then ...
Determinants of FDI in Transition Economies: The Case of CIS
... countries. Outward FDI from these countries also have reached high records with most of their investment directed to other economies in transition. On the other hand, FDI inflows to developed countries continued to decline. Thus, the role of transition economies not only as a recipient but also as a ...
... countries. Outward FDI from these countries also have reached high records with most of their investment directed to other economies in transition. On the other hand, FDI inflows to developed countries continued to decline. Thus, the role of transition economies not only as a recipient but also as a ...
Janusz J. Tomidajewicz: Privatization issues in Central Europen
... An assumption was made that, privatization to a considerable degree independently of what sectors, enterprises or fields it concerns and with the help of what tools is a process accomplishing purposes of the economic policy realized. Issue of the selection of directions and methods of the privatizat ...
... An assumption was made that, privatization to a considerable degree independently of what sectors, enterprises or fields it concerns and with the help of what tools is a process accomplishing purposes of the economic policy realized. Issue of the selection of directions and methods of the privatizat ...
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... At the end of the 1980s, there was no normative theory for the transformation of a centrally planned economy into the market-driven economy based on private ownership. At the time, the source of inspiration could have been experiences relating to the consecutive failures of the stabilizing programs ...
... At the end of the 1980s, there was no normative theory for the transformation of a centrally planned economy into the market-driven economy based on private ownership. At the time, the source of inspiration could have been experiences relating to the consecutive failures of the stabilizing programs ...
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... Since modernization theory assumes that there is essentially only one correct pathway toward development, theorists in this paradigm encourage underdeveloped regions to imitate the institutional forms and practices found in advanced industrial nations in order to accelerate their convergence with th ...
... Since modernization theory assumes that there is essentially only one correct pathway toward development, theorists in this paradigm encourage underdeveloped regions to imitate the institutional forms and practices found in advanced industrial nations in order to accelerate their convergence with th ...
Modelling Economies of Scale and Imperfect Competition Using
... in an industry or economies of scale caused by increased efficiency in the whole industry. The former is commonly known as internal economies of scale while the latter is known as external economies of scale. In addition to the above simulations, we also made other assumptions by changing the price ...
... in an industry or economies of scale caused by increased efficiency in the whole industry. The former is commonly known as internal economies of scale while the latter is known as external economies of scale. In addition to the above simulations, we also made other assumptions by changing the price ...
The Washington Consensus as Policy Prescription for Development
... doubt whether even at that time the overwhelming bulk of Washington opinion would have endorsed a competitive exchange rate (which implies an intermediate exchange rate regime dedicated to limiting misalignments), rather than one or other of the two poles (free floating and firm fixity, both of whic ...
... doubt whether even at that time the overwhelming bulk of Washington opinion would have endorsed a competitive exchange rate (which implies an intermediate exchange rate regime dedicated to limiting misalignments), rather than one or other of the two poles (free floating and firm fixity, both of whic ...
Regional trajectories and uneven development in `the new` Europe
... EU-applicant states of Slovakia and Hungary are found in the former, which has much greater levels of internal regional disparities than in Hungary. Within EU Member States, 19% of the population of the EU lived in NUTS III areas with a per capita GDP of less than 75% of the Community average. Inclu ...
... EU-applicant states of Slovakia and Hungary are found in the former, which has much greater levels of internal regional disparities than in Hungary. Within EU Member States, 19% of the population of the EU lived in NUTS III areas with a per capita GDP of less than 75% of the Community average. Inclu ...
The Curse Of Natural Resources In The Transition
... time period from 1970 to 1989 and find a significant negative correlation between GDP growth and the ratio of natural resource exports to GDP. Gylfason (2001) finds a negative relationship between the share of natural capital in total capital and economic growth. These findings provide evidence for ...
... time period from 1970 to 1989 and find a significant negative correlation between GDP growth and the ratio of natural resource exports to GDP. Gylfason (2001) finds a negative relationship between the share of natural capital in total capital and economic growth. These findings provide evidence for ...