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Does reform work? An econometric examination of the reform-growth puzzle
Babetskii, Ian; Campos, Nauro F. - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2007
Why are socially beneficial reforms not implemented? One simple answer to this question (which has received little attention in the literature) is that this may be caused by generalised uncertainty about the effectiveness of reforms. If agents are unsure about whether a proposed reform will...
Persistent link: https://www.econbiz.de/10005190685
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On the Speed of Economic Reform: Tale of the Tortoise and the Hare
Merlevede, Bruno; Schoors, Koen - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2005
We analyse how the choice of reform speed and economic growth affect one another. We estimate a system of three equations where economic growth, economic reform and FDI are jointly determined. New reforms affect economic growth negatively, whereas the level of past reform leads to higher growth...
Persistent link: https://www.econbiz.de/10005419609
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Reforms and economic growth in transition economies: Complementarity, sequencing and speed
Staehr, Karsten - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2003
Growth regressions have provided important insights into the impact of economic reforms on growth in transition … restructuring affect growth negatively. Swift reform policies allow transition countries to benefit from higher growth for a longer …
Persistent link: https://www.econbiz.de/10005648614
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The political economy of reforms: Empirical evidence from post-communist transition in the 1990s
Kim, Byung-Yeon; Pirttilä, Jukka - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2003
Using a novel data set from post-communist countries in the 1990s, this paper examines linkages between political constraints, economic reforms and growth. A dynamic panel analysis suggests public support for reform is negatively associated with income inequality and unemployment. Both the ex...
Persistent link: https://www.econbiz.de/10005648607
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Monetary transmission mechanism in Central and Eastern Europe: Gliding on a wind of change
Coricelli, Fabrizio; Égert, Balázs; MacDonald, Ronald - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2006
This paper surveys recent advances in empirical studies of the monetary transmission mechanism (MTM), with special attention to Central and Eastern Europe. In particular, while laying out the functioning of the separate channels in the MTM, it explores possible interrelations between different...
Persistent link: https://www.econbiz.de/10005207084
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Fiscal competition in a transition economy
Solanko, Laura - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2001
The paper analyses fiscal competition for mobile capital between identical regions in a transition country. A framework … transition when the share of the old sector is overwhelming, consumers in a transition economy may be better off in a competitive …
Persistent link: https://www.econbiz.de/10005207091
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The impact of institutional volatility on financial volatility in transition economies: a GARCH family approach
Hartwell, Christopher A. - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2014
The volatility of financial markets has been a relevant topic for transition economies, as the countries of Central and … the transition process. But what have been the determinants of this financial volatility? This paper posits that … volatility in transition. Examining 20 transition economies over various time-frames within the period 1993–2012, this paper …
Persistent link: https://www.econbiz.de/10010752334
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Employment - wage decisions in the insider-owned firm
Polterovich, Victor - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2000
The paper is intended to explain low sensitivity of employment decisions observed in transition economies where insider …
Persistent link: https://www.econbiz.de/10005771103
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Investigating the Balassa-Samuelson hypothesis in transition: Do we understand what we see?
Égert, Balázs - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2002
series and panel cointegration techniques are used to show that the BS effect works reasonably well in these transition …
Persistent link: https://www.econbiz.de/10005771107
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Diagnosing Dutch disease: Does Russia have the symptoms?
Oomes, Nienke; Kalcheva, Katerina - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2007
In this paper, we assess whether recent economic developments in Russia are symptomatic of Dutch Disease. We first provide a brief review of the literature on Dutch Disease and the natural resource curse. We then discuss the symptoms of Dutch Disease, which include (1) real exchange rate...
Persistent link: https://www.econbiz.de/10005771109