By Lúcio Vinhas de Souza, Oleh Havrylyshyn
The objective of this publication is to examine particular units of macro and structural regulations in chosen japanese eu nations. The ebook contains reports at the significant Western CIS nations, Belarus, Russia and Ukraine, plus a collection of cross-country and neighborhood reviews. The research during this booklet contributes importantly to the dialogue concerning the fiscal customers of the CIS countries.
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Extra resources for Return to Growth in CIS Countries: Monetary Policy and Macroeconomic Framework
Example text
Van Rooden, and V. Mercer-Blackman, (1999), Growth Experience in Transition Countries, 1990–98, IMF Occasional Paper n° 184, Washington, International Monetary Fund. , and P. Murrell, (1999), “The Relationship Between Economic Growth and the Speed of Liberalization During the Transition”, Policy Reform, Vol. 3 (June), pp. 121–37. , and A. Subramanian. (2005), Aid, Governance, and the Political Economy: Growth and Institutions, Washington: International Monetary Fund. ” Tinbergen Institute Discussion Paper n°.
But, repeating what was stated several times before in this chapter, macro stabilization is a necessary, but not sufficient, condition for growth, and certainly it is not sufficient for growth sustainability in the middle-to-long run. Therefore, the reform agendas of most governments in the region have now clearly switched towards reforms of a more micro, structural, regulatory, and market-disciplineenhancing nature. Concerning those types of reforms, an important question is what sort of “framework providers” can be used to maximize their effectiveness.
484499. Friedman, A. and A. Verbetsky, (2001), Currency Substitution in Russia, Moscow, EERC. Gertler, M. S. Gilchrist, (1994), “Monetary Policy, Business Cycles, and the Behaviour of Small Manufacturing Firms”, Quarterly Journal of Economics, 109, 2: 309-340. Gertler, M. S. Gilchrist, (1993), “The Role of Credit Market Imperfections in the Monetary Transmission Mechanism: Arguments and Evidence”, Scandinavian Journal of Economics, 95/1: 43-64. Gonzalo, J. (1994), “Five Alternative Methods of Estimating Long-Run Equilibrium Relationships”, Journal of Political Economy, 102: 1228-1247.