A Conceptual Framework for Interpreting Recorded Human History [03/12/2007]
North, D., Wallis, J., Weingast, B.
Neither economics nor political science can explain the process of modern social development. The fact that developed societies always have developed economies and developed polities suggests that the connection between economics and politics must be a fundamental part of the development process. This paper develops an integrated theory of economics and politics. We show how, beginning 10 000 years ago, limited access social orders developed that were able to control violence, provide order, and allow greater production through specialization and exchange.
Market Reforms and Growth in Post Soviet Countries: Results of the Econometric Analysis [02/12/2007]
Chubrik, A., Pelipas, I.
In this paper the impact of market reforms on economic growth has been analyzed using the panel data for 26 post-socialist countries over the period between 1989 and 2005. Taking into account the dynamic properties of the data, the concepts of cointegration and equilibrium correction model for panel data has been used as the analytical framework. First, well-specified regression models have been obtained. Second, long and short run aspects of ‘reforms-growth’ relationship have been considered. Out analysis has detected the existence of cointegration between the level of EBRD reform index and the level of real GDP per capita.
Regulatory Framework and Tendencies in Development of Small and Medium Business in Belarus [01/12/2007]
Kozarzewski, P., Rakova, E.
The conducted survey shows that legal administrative and barriers for private business development abound. According to the heads of Belarusian SMEs included in the survey, the main barriers include the instability and inconsistency of legislation; the high number of state agencies involved in supervision and inspection; the inadequate punishment of crimes; over regulation, obsessive documentation and a repressive tax system.
Economic Consequences of Gas Price Increase: A Quantitative Estimate [30/11/2007]
Tochitskaya, I., Shymanovich, G.
The paper estimates the consequences of gas price hike for the Belarusian economy by employing a computable general equilibrium model. The model data are taken from the input-output tables and the 2004 national accounts. The model analyzes four scenarios differing by the degree of gas price increases as stipulated by the agreement with Gazprom made on December 31, 2006. The results of modeling show that growth of gas prices would most negatively affect chemical and petrochemical, heating and power industries. At the same time, decline in these sectors would be accompanied by redistribution of the resources mostly in favor of such sectors, as machine building, light industry and services.
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