This paper studies the connection between trade and growth in the context of a partial and inconsistent liberalization process in a specific Eastern European country in transition towards market economy, namely, the Republic of Belarus. The analysis of the country trade patterns during the USSR period and the years since independence revealed that unlike its close neighbors (the Baltic States a...

In this paper we empirically examine the effect of various banking policies on financial sector development. To this end, an econometric model in the context of Co-integrated VAR is employed. The results show that financial liberalization and reforms have a significant and positive effect on the banking sector development while inflation rate has a negative effect. Furthermore, the high GDP...

We study the effect of improvements in peasants’ property rights launched by the Stolypin reform on agricultural productivity in early 20 century Russia. We find that the enclosure component of the reform caused an increase in land productivity. We argue that this effect is mainly driven by better usage rights and not because of economies of scale or better tenure security. In addition, we find...

We develop a three-country version of the Helpman, Melitz and Yeaple (2004) model with firm heterogeneity, industry heterogeneity and country heterogeneity to study firms’ foreign market entry strategies. We show that (i) for any single host country, the export-FDI cutoff is higher in more skill-intensive industries than in less skillintensive industries; and (ii) for any single industry, the c...

Trade liberalization episodes are usually analyzed in a horizontal dimension, that is, the movement of resources across sectors due to relative price changes. This perspective underestimates an element present in many liberalization processes: the opening access of foreign ...rms to produce and sell locally. As long there exist productivity di¤erences between native and foreign ...rms and depen...

Russia and Germany have centuries-old cultural, economic, and dynastic ties. Until the end of the 17th century, the German diaspora in Muscovy was small and concentrated in the German Quarter in Moscow. The reign of Catherine the Great (1762 – 1796) featured an active campaign carried out in Russia to engage foreign colonists in the economic development of vacant lands on the outskirts of the s...

The pandemic caused by the SARS-CoV-2 coronavirus (COVID-19) has not only led to economic stagnation, border closures and a serious reduction in cross-border activities, but also effectively paralyzed international trade ties. In addition, clearly showed that world trading system was ready for such global crisis. If end of 2021 – beginning 2022, there were some positive trends, then extremely a...

computable general equilibrium models are known as a powerful instrument in economic analyses and widely have been used in order to evaluate trade liberalization effects. the purpose of this study was to provide the impacts of trade openness on pharmaceutical industry using cge model.using a computable general equilibrium model in this study, the effects of decrease in tariffs as a symbol of tr...