Showing 1 - 10 of 91
This paper examines whether terms of trade shocks have an asymmetric effect on private savings in transition economies. A simple three-period framework is developed to show that, in the presence of binding credit constraints in bad states of nature, savings rates can be sensitive to favorable...
Persistent link: https://www.econbiz.de/10005419604
The large and persistent deviations of nominal exchange rates from their purchasing power parities comprise a key stylized fact in international economics. This paper sheds light on these persistent deviations by combining two disparate strands of empirical work. The first strand focuses on real...
Persistent link: https://www.econbiz.de/10011019069
The volatility of financial markets has been a relevant topic for transition economies, as the countries of Central and … Eastern Europe and the former Soviet Union have seemingly endured high levels of volatility in their financial sectors during … the transition process. But what have been the determinants of this financial volatility? This paper posits that …
Persistent link: https://www.econbiz.de/10010752334
affected by ‘volatility contagion’ coming from emerging markets. I find also some partial support for the ‘volatility contagion …
Persistent link: https://www.econbiz.de/10005648630
The paper investigates institutional development in the Russian forestry sector after 1991. As it argues, while there has been a great degree of decentralization, original market-oriented reform blueprints for the industry were only partially implemented. The reasons for this can be found...
Persistent link: https://www.econbiz.de/10005419583
shows factually, and on the norms elaborated by Pareto, Arrow and Bergson that Russia is an abnormal political economy …
Persistent link: https://www.econbiz.de/10005419588
This study considers the pervasive tax evasion of transition economies, with particular reference to Russia’s tax …
Persistent link: https://www.econbiz.de/10005419589
a search for common global and regional driving-forces in stock market returns and volatility. We focus particularly on … two emerging stock markets - Russia and China, because of their unique characteristics and performance in the past years …
Persistent link: https://www.econbiz.de/10005419590
The Russian Economy has evolved into a hybrid form, a partially monetized quasi-market system that has been called the virtual economy. In the virtual economy, barter and non-monetary transactions play a key role in transferring value from productive activities to the loss-making sectors of the...
Persistent link: https://www.econbiz.de/10005419592
. The author provides an estimate of Russia’s institutional convergence to the standards of the G7 and the “Big Five” group … of large, middle-income countries that includes Brazil, China, and India. In some areas Russia outperforms "Big Five …" countries, in others it trails behind. Finally, public mistrust, corruption, and inefficient governance in Russia are discussed …
Persistent link: https://www.econbiz.de/10005419596