output changes and inflationary bias in transition - cerge-ei
... real wages have been higher than believed, with correspondingly lower poverty rates. Thus, governments have more latitude to lower social spending, thereby reducing tax burdens and increasing growth. Implications for integration with the European Union are similarly profound. If removing the upward ...
... real wages have been higher than believed, with correspondingly lower poverty rates. Thus, governments have more latitude to lower social spending, thereby reducing tax burdens and increasing growth. Implications for integration with the European Union are similarly profound. If removing the upward ...
Russian economic transformation
... When the price of petroleum fell in the last 1980's => the Soviet Union needed to borrow the funds from Western banks to purchase the needed grain. => This severely restricted the international activities of the Soviet Union. HYPOTHESIS: The reason for the decline in petroleum prices in the late 198 ...
... When the price of petroleum fell in the last 1980's => the Soviet Union needed to borrow the funds from Western banks to purchase the needed grain. => This severely restricted the international activities of the Soviet Union. HYPOTHESIS: The reason for the decline in petroleum prices in the late 198 ...
International Business
... » state-owned enterprises operated in the red Privatization—the sale of state-owned enterprises to the domestic or foreign private sector • Helps governments reduce internal debt • A complicated political and economic process • Key is availability of capital • Enable foreign companies to acquire ass ...
... » state-owned enterprises operated in the red Privatization—the sale of state-owned enterprises to the domestic or foreign private sector • Helps governments reduce internal debt • A complicated political and economic process • Key is availability of capital • Enable foreign companies to acquire ass ...
3. Central Asian states “puzzles.”
... • 1. Macro-economic stabilization, structural adjustment policies and institutional building are necessary, but not sufficient. • 2. In order to make them efficient each state, needs to find proper speed and sequence of reforms, and implement them properly. • 3. It is necessary based on thorough exa ...
... • 1. Macro-economic stabilization, structural adjustment policies and institutional building are necessary, but not sufficient. • 2. In order to make them efficient each state, needs to find proper speed and sequence of reforms, and implement them properly. • 3. It is necessary based on thorough exa ...
Explaining Economic Performance During Transition
... liberalisation of financial markets and exchange rates. Structural reforms are more concerned with the elimination of the price distortions caused by inappropriate government policies at the micro-level. For that reason, they are associated with all forms of deregulation and a removal of the entire ...
... liberalisation of financial markets and exchange rates. Structural reforms are more concerned with the elimination of the price distortions caused by inappropriate government policies at the micro-level. For that reason, they are associated with all forms of deregulation and a removal of the entire ...
What are the Emerging Markets?
... -- Out of 180 countries only 1/3 can grow at 5% for one decade only 1/4 can grow at 5% for two decades only 1/10 can grow at 5% for three decades only 6 countries grew at 5% for four decades only 2 countries grew at 5% for five decades (Taiwan and SK) -- New Normal for Growth US 2-2.5%, Eurozone & J ...
... -- Out of 180 countries only 1/3 can grow at 5% for one decade only 1/4 can grow at 5% for two decades only 1/10 can grow at 5% for three decades only 6 countries grew at 5% for four decades only 2 countries grew at 5% for five decades (Taiwan and SK) -- New Normal for Growth US 2-2.5%, Eurozone & J ...
Market economies
... nouns/noun phrases: public sector consumption amount all individuals • Describe merit goods using the following phrases: not available provided by the state standard of living ...
... nouns/noun phrases: public sector consumption amount all individuals • Describe merit goods using the following phrases: not available provided by the state standard of living ...
NEWS RELEASE News Release No. 2007/58/DEC Contacts
... released new data showing the world economy produced goods and services worth almost $55 trillion in 2005 and that almost 40 percent of the world’s output came from developing economies. Carried out with the World Bank and other partners, the preliminary global report provides estimates of internati ...
... released new data showing the world economy produced goods and services worth almost $55 trillion in 2005 and that almost 40 percent of the world’s output came from developing economies. Carried out with the World Bank and other partners, the preliminary global report provides estimates of internati ...
Empirical cross-section dynamics in economic growth
... states - nine entries in the opposing off-diagonal corners are zeF; second panel (up to two decimal points). Again, this indicates sOne initially suspects this is due to (a) the way the cells are defined, the higher in covering a larger range, and (b) ongoing world-wide growth. Two points are worth ...
... states - nine entries in the opposing off-diagonal corners are zeF; second panel (up to two decimal points). Again, this indicates sOne initially suspects this is due to (a) the way the cells are defined, the higher in covering a larger range, and (b) ongoing world-wide growth. Two points are worth ...
ECONOMICS
... with another country – usually meant to force a country to change some policy EMBARGOES – more drastic – nations refuse to trade with a certain country at all – The United States has had an embargo against Cuba in place for almost fifty years. ...
... with another country – usually meant to force a country to change some policy EMBARGOES – more drastic – nations refuse to trade with a certain country at all – The United States has had an embargo against Cuba in place for almost fifty years. ...
Trends in economic transition
... growth. An elaborate institutional framework, which is not easily created, is required, including legal institutions and mores, financial institutions and financial discipline, institutions and standards for competition and corporate governance (IMF, 2001:105-106). In addition to macro-economic stab ...
... growth. An elaborate institutional framework, which is not easily created, is required, including legal institutions and mores, financial institutions and financial discipline, institutions and standards for competition and corporate governance (IMF, 2001:105-106). In addition to macro-economic stab ...
Presentation
... transformational recession, economic performance (such as GDP and exports), and political transformation. • Assessments of progress on the above dimensions have been done earlier (Havrylyshyn (2007), Svejnar (2001 ???), Roland (2014). • This paper provides an update to the earlier assessments, askin ...
... transformational recession, economic performance (such as GDP and exports), and political transformation. • Assessments of progress on the above dimensions have been done earlier (Havrylyshyn (2007), Svejnar (2001 ???), Roland (2014). • This paper provides an update to the earlier assessments, askin ...
Market Economy Command Economy Mixed Economy Traditional
... People must choose which methods to use to allocate different kinds of goods and services. There are four basic ways that societies have come up with over the years to allocate scarce goods and services among their people. These include a Traditional Economy, a Command Economy, a Market Economy and ...
... People must choose which methods to use to allocate different kinds of goods and services. There are four basic ways that societies have come up with over the years to allocate scarce goods and services among their people. These include a Traditional Economy, a Command Economy, a Market Economy and ...
I will focus on Kazakhstan and Uzbekistan because both countries
... KZ, being the largest country and economy in Central Asia, has always been a mining and agricultural economy, relaying on its natural resources. The country is a new Dorado, with promising oil reserves that when they reach their full exploitation can be an alternative source to the Middle East. KZ i ...
... KZ, being the largest country and economy in Central Asia, has always been a mining and agricultural economy, relaying on its natural resources. The country is a new Dorado, with promising oil reserves that when they reach their full exploitation can be an alternative source to the Middle East. KZ i ...
Does Eastern Europe Still Exist?
... to have a clear sense of direction. There was never any doubt about this direction in the case of the central Europeans. When working as a journalist in the region in 1989 and 1990, I heard people repeatedly stating their desire ‘to be normal’. ‘Normal’ in 1989 and 1990 meant Western European: Weste ...
... to have a clear sense of direction. There was never any doubt about this direction in the case of the central Europeans. When working as a journalist in the region in 1989 and 1990, I heard people repeatedly stating their desire ‘to be normal’. ‘Normal’ in 1989 and 1990 meant Western European: Weste ...
roland2009l1
... • Main argument is that absence of democracy gave the Chinese government more freedom of maneuver to introduce painful reforms. • Ironically, reforms were less painful in China compared to countries that democratized. • Moreover, countries that democratized less or had antidemocratic backlash have t ...
... • Main argument is that absence of democracy gave the Chinese government more freedom of maneuver to introduce painful reforms. • Ironically, reforms were less painful in China compared to countries that democratized. • Moreover, countries that democratized less or had antidemocratic backlash have t ...
From Socialist Workfare to Capitalist Welfare State
... economy changing, but so is the government‟s role in buffering people from market forces (Lipsmeyer 2002, p.661)..,In the early stages, governments either sustained or expanded their already extensive commitments (Fultz and Ruck 2001). in order to contain the social costs generated by the transition ...
... economy changing, but so is the government‟s role in buffering people from market forces (Lipsmeyer 2002, p.661)..,In the early stages, governments either sustained or expanded their already extensive commitments (Fultz and Ruck 2001). in order to contain the social costs generated by the transition ...
Point/Counterpoint - Reform: What Pace Works Best?
... straightforward, like the interaction between trade reform and the labor market or between privatization and the equity market, but we have little data on the magnitude of interaction. Within each individual market, also, there are systemic complexities. Building a smoothly functioning labor or fina ...
... straightforward, like the interaction between trade reform and the labor market or between privatization and the equity market, but we have little data on the magnitude of interaction. Within each individual market, also, there are systemic complexities. Building a smoothly functioning labor or fina ...
The Presentation Today
... In the transition a number of other things also could and should be done instantaneously and simultaneously, such as legalising private property and enterprise, giving free access to trade to all economic agents without bureaucratic obstacles such as licences or registration, eliminating quantitati ...
... In the transition a number of other things also could and should be done instantaneously and simultaneously, such as legalising private property and enterprise, giving free access to trade to all economic agents without bureaucratic obstacles such as licences or registration, eliminating quantitati ...
World economy to shrink by 2.6% this year by
... to only recover to a meagre rate of 1.0% in 2010, well below what is needed for recovery from the downturn. In the optimistic scenario that things would fall into place by the third quarter of 2009, the United States economy could recover in the second half of the year and post growth of about 1.5% ...
... to only recover to a meagre rate of 1.0% in 2010, well below what is needed for recovery from the downturn. In the optimistic scenario that things would fall into place by the third quarter of 2009, the United States economy could recover in the second half of the year and post growth of about 1.5% ...
Alan Greenspan: The wealth of nations revisited
... education can lead to a sustained rise in the rate of economic expansion. Finally, an undeniable determinant of economic growth is macroeconomic stability--having fiscal, monetary, and exchange rate policies that are sound and predictable. A prudent government sets, among other things, the long-run ...
... education can lead to a sustained rise in the rate of economic expansion. Finally, an undeniable determinant of economic growth is macroeconomic stability--having fiscal, monetary, and exchange rate policies that are sound and predictable. A prudent government sets, among other things, the long-run ...
But why not all ECA`s countries even among the financially integrated?
... The growth outlook for the region is weak as firms and households repair their balance sheets after the excesses of the boom years. Non-performing loans in ECA’s banks are signaling systemic distress. Banks need to be divided into those that are (i) viable and meet regulatory requirements; (ii) nonv ...
... The growth outlook for the region is weak as firms and households repair their balance sheets after the excesses of the boom years. Non-performing loans in ECA’s banks are signaling systemic distress. Banks need to be divided into those that are (i) viable and meet regulatory requirements; (ii) nonv ...
Slajd 1
... ”The general conclusion was that the effect of initial conditions, while strong at the start of transition, wears off over time (…). Moreover, the importance of the fiscal policy variable (the budget balance) increases with the longer period data set. The coefficients on the reform indices (…) are s ...
... ”The general conclusion was that the effect of initial conditions, while strong at the start of transition, wears off over time (…). Moreover, the importance of the fiscal policy variable (the budget balance) increases with the longer period data set. The coefficients on the reform indices (…) are s ...
EC330 - The University of Reading
... Roland and Verdier (1999) features, in turn, only an initial output fall followed by a higher level of output than under socialism In the above sense, it appears more appropriate to apply Blanchard and Kremer (1997) when explaining what happened in countries like Russia or Ukraine, whereas Roland an ...
... Roland and Verdier (1999) features, in turn, only an initial output fall followed by a higher level of output than under socialism In the above sense, it appears more appropriate to apply Blanchard and Kremer (1997) when explaining what happened in countries like Russia or Ukraine, whereas Roland an ...
Economics
... US dollar. For example, between November 2008 and July 2009, the Brazilian currency rose 11.4% against the dollar and the Indonesian currency rose 10.2%. Another indicator was the forecast growth rate in GDP as shown in Table 1. Table 1: Forecast growth rate in GDP for selected countries Forecast Gr ...
... US dollar. For example, between November 2008 and July 2009, the Brazilian currency rose 11.4% against the dollar and the Indonesian currency rose 10.2%. Another indicator was the forecast growth rate in GDP as shown in Table 1. Table 1: Forecast growth rate in GDP for selected countries Forecast Gr ...