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This paper argues that traditional explanations of the fiscal crisis in transition economies overlook the crucial interconnection between the reduction in subsidies expenditure and the decrease in profit tax revenues. It thus contends that the impact on the fiscal budget of the crisis of...
Persistent link: https://www.econbiz.de/10008470364
In Hungary and the Central-European region, state regulation has been at the forefront of interest since the beginning of the economic transition. Among the many interesting questions raised, we would like to analyze the problem of building an appropriate regulatory system allowing the industry...
Persistent link: https://www.econbiz.de/10008635844
Credibility of an exchange rate policy is one of the most important factors contributing to success or failure of any … future course. There are clear advantages of high credibility of exchange rate policy to the country's disinflation efforts … whether one can quantify credibility and find factors that are affecting it. Various studies found in the literature have …
Persistent link: https://www.econbiz.de/10008541398
The model of the Russian economy that was formed in the 2000s does not match a new stable growth path, though it helped to calmly overcome the crisis of 2008 and 2009. The state needs to provide stability in the fields under its direct control, i.e. the budgetary and monetary policies. In the...
Persistent link: https://www.econbiz.de/10010901986
Migration from Eastern Partnership (EaP) countries has only become a large and important phenomenon over the last twenty years At its heart, labour migration reflects entrepreneurial decisions by individuals and families looking to improve their lives while facing complex challenges and...
Persistent link: https://www.econbiz.de/10010901998
The future size and quality of the European labour force are important production factors for future economic growth in the region. The performance of many systems such as social security and health depends on the population of future potential tax payers. Older workers are an important and...
Persistent link: https://www.econbiz.de/10010902000
More than a year has passed since the beginning of the political uprising against the authoritarian regimes in the Arab world. But, as demonstrated by the recent dramatic developments in Syria, the process is far from over. Meanwhile nations which have already freed themselves from their...
Persistent link: https://www.econbiz.de/10010902002
The negotiations on the Association Agreement (AA) between the European Union (EU) and Ukraine, including its trade component, i.e., the Deep and Comprehensive Free Trade Agreement (DCFTA), were completed in December 2011. The agreement is practically ready to be signed, if the EU’s...
Persistent link: https://www.econbiz.de/10009653073
In 2011, the Belarusian ruble lost nearly 2/3 of its value. In December, the inflation rate approached 110% yoy. At the same time, the economy grew by 5.3% that year and continued with 3.6% yoy growth in January 2012. Is this a sign of economic recovery? Will it turn into sustainable growth? Or...
Persistent link: https://www.econbiz.de/10010540162
The 20th anniversary of the beginning of economic reforms in Eastern Europe and the Former Soviet Union provides a good opportunity to comment on the lessons of transition says Andrei Shleifer, a Professor of Economics at Harvard University. He made a top seven list, which might be useful to...
Persistent link: https://www.econbiz.de/10009650234