This paper examines the consequences of capital market liberalization, with special reference to its effects under different exchange rate regimes. Capital market liberalization has not lead to faster growth in developing countries, but has led to greater risks. It describes how International Monetary Fund policies have exacerbated the risks, as a result of the macro-economic response to crises...

In the discussions of trading, unemployment and income distribution inequality, this question is raised by economists that in economic development of developing and developed countries, which policy is necessary in the first stage. Is trading liberalization the pre-requirement of transfer from a close economy to a relative open economy and is it necessary for the developed economy compared to o...

1 "WTO Accession and Economic Development: Experience of Newly Acceded Countries and Implications for Belarus" is available under the Creative Commons License 3.0. Some rights reserved to the Solidarity Fund. The paper was written under the " Democracy Support Programme " funded by the Polish Development Cooperation Programme of the Polish Ministry of Foreign Affairs (2013). It is permitted to ...

We examine what is perceived as one of the main culprits in the occurrence of banking crises: financial liberalization. As is typically argued, if liberalization is accompanied by insufficient prudential supervision of the banking sector, it will result in excessive risk taking by financial intermediaries and a subsequent crisis. Having evaluated the empirical validity of this hypothesis, we co...

The paper considers Russian reforms within the wider debate on the advisability of shock therapy programs. The vision of political and economic processes implicit in shock therapy is analyzed and critiqued using a comparison with an alternative, evolutionary viewpoint. In Poland and Russia, shock therapy failed in its goal of implementing top-down reforms, by-passing existing political and soci...

In this paper, we aim at investigating from a game theory perspective whether trade liberalization can promote a collusive intra-industry trade and whether such a collusive trade is always socially desirable compared to the autarchy solution. We show that, under Cournot competition, economic integration is anti-competitive if collusive trade is a possible outcome of the repeated game; under pri...

A Pragmatic Approach to Capital Account Liberalization Cross-country regressions suggest little connection from foreign capital inflows to more rapid economic growth for developing countries and emerging markets. This suggests that the lack of domestic savings is not the primary constraint on growth in these economies, as implicitly assumed in the benchmark neoclassical framework. We explore em...

BACKGROUND In the Russian Federation (Russia), an elevated burden of premature mortality attributable to non-communicable diseases (NCDs) has been observed since the country's economic transition. NCDs are largely related to preventable risk factors such as unhealthy diets. OBJECTIVE This health policy study's aim was to analyze past and current food production and nutritional trends in Russi...

Recent decades have seen momentous changes in the economic geography of the world. Political transitions and economic liberalization have brought formerly closed countries into the world economy. In Richard Freeman’s phrase, this has amounted to a “doubling of the world labor force.” The collapse of communism in the Soviet bloc brings 260 million workers into the world labor force; the opening ...

This paper examines time series evidence to establish a link between trade, economic growth and income inequality in Bangladesh. The empirical results from a Vector Autoregression (VAR) model suggest that there is some evidence of trade liberalization accelerating growth in Bangladesh. Trade openness promotes investment. We find little evidence of trade affecting income distribution or of incom...