This paper examines the current state of economic reforms in India and the phenomenon of policy paralysis leading to almost complete lack of progress on reforms. It studies the qualitative aspects of reforms in India over the last couple of decades and explains how these have changed over time....

Cuban economic planning and its heterodox adjustment to the collapse of the Council for Mutual Economic Assistance occupy a controversial place in discussions on globalization. Frequently, observers' diverse political affiliations generate biased representations of Cuban economic policy. Based...

The main purpose of the research is to develop a new methodology, that will allow to create an Integral Index of Reforms, quantitatively assess various reforms that have been implemented for 2012-2017 in 66 countries of the world. In the article with the help of the Integral Index of Reforms,...

In this paper we derive the correct solution of optimal closure of the state sector studied in Section 6.4 of Aghion and Blanchard (1994). Aghion and Blanchard only present an 'approximate' solution which entails a constant unemployment rate in what they call a turnpike approximation. We show...

This article presents an analysis of the key challenges facing the global economy, as well as the impact of these challenges on Russia. It addresses main collisions that have emerged in recent years, including the proliferation of etatism and populism, increasing social and political...

This paper provides a comparative analysis of the Great Depression (1929-1933) and the Great Financial Crisis (2007-2009) by contrasting the crises' main driving forces and how they relate to each other with respect to the United States. To this end, causes, consequences and measures undertaken...

The aim of this paper is to examine the economic policy response to the COVID-19 crisis in Poland. The paper investigates the rationale for the economic policy tools implemented, their costs, and potential consequences for the Polish economy. The analysis concentrates on the initial phase of the...

For about three decades, the Japanese economy suffered a prolonged phase of economic stagnation but may have started, in late 2019, to emerge from this state with the implementation of Abenomics in late 2012 or early 2013. Abenomics consisted of “three arrows”, namely aggressive monetary...

The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the...

The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural reforms in the (low distortion) member countries and the (high distortion) candidate countries. While monetary union lowers reforms in the candidate countries, members of the...