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The Belarus Economy: The Challenges of Stalled Reforms. wiiw Research Report No.413.
Dobrinsky R; Adarov A; Bornukova K; Havlik P; Hunya G; Kruk D; Pindyuk O
发表日期2016
出处The Vienna Institute for International Economic Studies, Vienna, Austria , Vienna, Austria.
出版年2016
语种英语
摘要Twenty-five years after the dissolution of the Soviet Union, Belarus stands out as a special case in transition blending, on the one hand, signs of relative prosperity, socially oriented policies and sprouts of entrepreneurships and, on the other hand, remnants of the communist past. The core of the Belarusian economic model throughout most of this period was a combination of external rents and soft budget constraints on the state-owned part of the economy backed by a strong system of administrative control. In periods of favourable external conditions this mix provided for relatively high rates of economic growth and allowed the authorities to maintain a ‘social contract’ with the population targeting close to full employment. But this model also led to the persistent accumulation of a quasi-fiscal deficit which time and again came to the surface, and its subsequent monetisation provoked macroeconomic and currency turmoil. At present, Belarus’ economic model has run up against its limits and policy changes seem inevitable.
主题Advanced Systems Analysis (ASA)
关键词Belarus, economic transformation, macroeconomic policy, soft budget constraints, currency crisis
URLhttp://pure.iiasa.ac.at/id/eprint/13983/
来源智库International Institute for Applied Systems Analysis (Austria)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/135726
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Dobrinsky R,Adarov A,Bornukova K,et al. The Belarus Economy: The Challenges of Stalled Reforms. wiiw Research Report No.413.. 2016.
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