Real And Financial Economic Dynamics In Russia And Eastern Europe

Russia and many other transition countries are now facing the challenges of opening up, restructuring, and modernizing their economies, which requires addressing numerous institutional weaknesses and supply-side distortions. From a regional perspective, drawing on the experience of other reforming countries, the papers examine these issues. Aspects addressed include the implications of trade and capital flows, the process of labor market reform, financial market development, productivitiy growth, and innovation dynamics. The dynamics of the reform process are also studied in the context of new political economy models.

After a decade of sharp economic decline, Russia switched to an impressive period of economic growth. Yet the economic record is still mixed, and many key problems remain unresolved, both in the economic sphere and the political system. The focus is on economic dynamics in Russia, reasons for its hesitant opening up process as well as the special role of the natural resources sector which is expected to continue to grow. This analysis highlights the existing deficiencies of the Russian economic system and raises doubts about the sustainability of growth. Twin focus is on required reforms and endogenous forces that impair liberalizing trade and investment in an orderly way. Russian discussions on WTO and other international topics are reflected.

This volume offers analyses of the basic tendencies and the problems of Russia, Eastern Europe, Transcaucasia, Central Asia, and the Baltic states. It covers the Russian economic model; the rates and proportions of the Russian economy; its real, financial, external, and social sectors; investment and fixed assets; human capital; and economic policy. East European, Transcaucasian, Central Asian and Baltic economies are then analysed using the same perspectives. This allows a comparison of the economic progress of the post-Soviet countries, highlighting the differences and the similarities between them. This book will be useful for students, professors, and businessmen interested in cooperation with the post-Soviet countries.

Experts present their analyses of historical developments as well as new economic challenges for the European Union. Contributors, representatives from major banks and academia, point out the dramatic economic shifts among and within Europe, Asia, and the United States. At the bottom line of this EU analysis are major implications for investors, managers, policymakers, and the public at large in both the EU and the rest of the world.

This book analyzes the dynamics and impacts of software development and discusses new institutional and economic changes in the context of digital market economies. Regulatory approaches in OECD countries are compared and country studies evaluated with respect to innovation and welfare aspects. The book furthermore examines telecommunications regulation of fixed line networks, cable TV and mobile communications. Also discusses the role of EU framework regulation and issues of market power.

Structural change, economic growth and adequate exchange rate adjustment are key challenges in the context of EU eastern enlargement as are consistent macroeconomic policies. The authors focus on sectoral adjustment across industries in catching-up countries and explain changes in the composition of output – this includes new aspects of the Chenery model. They describe and analyze the spatial pattern of specialization and adjustment in many countries. Theoretical and empirical analysis of foreign direct investment, innovation and structural change shed new light on economic dynamics in Old Europe and New Europe. As regards exchange rate dynamics both traditional aspects (such as the Balassa-Samuelson effect) and new approaches to understanding exchange rate developments are presented. Links between exchange rate changes and innovation are particularly emphasized.

Broadening and deepening of economic and political integration are hallmarks of the EU and ASEAN. This book critically analyses the economic and institutional changes in both Europe and Asia. There is considerable potential for instability, but one also finds regional growth opportunities. Comparative policy analysis and evaluation of various cooperation strategies are presented. Emphasis is on banking, financial market dynamics, ICT, and macroeconomic policies as well as trade, energy, and environmental issues. Legal aspects are combined with historical and economic perspectives. Due emphasis also is on the impact of China and the role of international organisations. The comparative analysis of EU and ASEAN integration suggests important policy choices, including those at the multilateral level.

The Russian Federation has a history of more than twenty years of transformation to a market economy, but as well to a knowledge society, to look back on. This study takes a look at the knowledge generation, knowledge transmission and knowledge use inside the Federation since the early 1990s. Furthermore, in light of the high dependence of the Russian economy on the oil and gas sectors this study analyzes the impact knowledge related factors have on regional income generation following thereby in the direction of Schumpeterian growth theory. The study combines descriptive with empirical analyses to paint a picture as detailed as possible of the Russian knowledge society and its innovative potential. ​