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Recently, Blanchard and Kremer (BK) argued that disorganization has led to the output decline in the former Soviet Union. In this paper we introduce liquidity and credit constraints into the BK model and show how these problems can alleviate the hold-up problem. We argue further that barter...
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This paper investigates the economic and social determinants affecting the well-being of temporary migrants before, during and after the financial crisis. Exploiting unique panel data which cover migration spells from Tajikistan between 2001 and 2011, we find that migrants earn less but stay...
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Internationalization ; economic crisis ; Russia ; Hungary ; Belarus …
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crisis, and since mid-2014 Russia has moved into recession. A number of short-term factors have caused recession: lower oil … prices, the conflict with Ukraine, European Union and United States sanctions against Russia and Russian counter …-sanctions. However Russia's negative output trends have deeper structural and institutional roots. They can be tracked back about a …
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This paper looks at Russia's response to the global financial crisis. After a brief introduction to the financial …
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It has become popular in Russia to speak about the crash of the Western economic model and liberal capitalism and this …
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