...Transition The First Ten Years Analysis and Lessons for Eastern Europe and the Former Soviet Union Transition The First Ten Years Analysis and Lessons for Eastern Europe and the Former Soviet Union THE WORLD BANK Washington, D.C. © 2002 The International Bank for Reconstruction and Development/The World Bank 1818 H Street, NW Washington, DC 20433 All rights reserved. 1 2 3 4 5 05 04 03 02 The findings, interpretations, and conclusions expressed here are those of the author(s) and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply on the part of the World Bank any judgment of the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is copyrighted. No part of this work may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or inclusion in any information storage and retrieval system, without the prior written permission of the World Bank. The World Bank encourages dissemination of its work and will normally grant permission promptly. For permission to photocopy or reprint, please send a request with complete information to the Copyright Clearance Center, Inc, 222 Rosewood...
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...No. 2060 August 7, 2007 The Estonian Economic Miracle The Honorable Mart Laar Estonia is a small country in Northern Europe on the Baltic Sea, at the crossroads of East and West, South and North. Samuel Huntington states that the Estonian border is a border of Western civilization, a border where civilizations clash.1 This has made Estonia interesting to historians but hard for people who live there. Throughout history, Estonians have had to fight for their freedom. In 1918, Estonia declared independence. It was occupied by the Soviet Union in 1940 during the Second World War. We fought the communist terror during the war but were defeated. As a result of the occupation, Estonia lost nearly 20 percent of its population. But we never gave up. When the 1980s offered us a new chance, we took advantage of it. Estonia became one of the first countries to pry open the cracks in the Soviet Empire. Finally, in 1991, after 50 years of occupation, Estonia became free again. We had freedom but little else. Estonia was destroyed during the period of communist rule. In 1939, Estonia’s living standards and way of life were more or less the same as neighboring Finland’s. Then Estonia lost its independence, but Finland, despite losing territory and population, succeeded in keeping its independence. Life under two different political systems created a huge disparity in the development of Finland and Estonia. People learned and worked hard on both sides of the Finnish Bay, but only the Finns...
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...History of the Chinese economy……………………………………………..……………………………….….…p 4 A- The Mao era (1945-1976)………………………………………………..……………………………….….…p 4 B- Post Mao era (Deng era 1976-1994)………..…………………………………………………….……….p 5 II- The process of transition……………………………………..………………………………………………………..p 5 III- Success and consequences of China’s economic transition….………………………………………p 6 IV- Challenges…………………………………………………………………………….……………..………...……………p 8 CONCLUSION…………………………………..………………………………………………………………………………..p 9 BIBLIOGRAPHY…………………………………..……………………………………………………………………….……p 11 APPENDICES…………………………………..…………………………………………………………..……………….…..p 12 INTRODUCTION | China is now becoming the world’s most prominent up and coming super power. It is a country steeped with a long and chequered past and the history books will show that it deserves its place amongst world leaders. In the last century China has experienced some of its most turbulent years and only in the very latter part of the century has it come to overthrow the oppressive shackles that have haunted the nation from the Mao era. However the case could be argued that the Mao era may have been the catalyst for much of the good that can be found in the Chinese approach to growing a stable economy. Rather than introducing radical reforms and provoking social unrest, the Deng era of Chinese rule introduced a two-track transition process that has allowed the country to gradually move from a centrally planned economy to a wiser free market...
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...Lecturers name: Dr Antony (Tony) Drew Your name: Saif Ibn Sharif Student number: c3123892 Assignment-1 GSBS6003 Introduction and Overview In this assignment I have selected Poland to discuss its political economy and attractiveness to FDI. Poland alongside a populace of 38 million, a fully liberalized marketplace economy in the center of E urope and presently as a maximum associate of the E.U., has come to be a main recipient of FDI inflows. As a tinier growing marketplace, analyzing its accomplishment in the marketplace for FDI is instructive and relevant for countless supplementary countries. FDI has grown quickly in present years in an increasingly consolidated globe economy. The growing be forehand Collectivist asserts of Central Europe have transitioned to marketplace economies across the l ast twenty years, as in the alike era, globe flows of FDI have increased extra quickly than each suppleme ntary global commercial or commercial transactions. Melodramatic adjustments in the globe commerci al and governmental nature have endowed both the opportunity and momentum to these commercial flows. Globe FDI inflows in 1985 were approximated to be $53 billion. By 1990, aggregate FDI had graspe d $234 billion and preliminary guesstimate for 2006 indicate globe FDI is $1,340 billion1 . This rise in nominal words of extra than twenty periods 1985 level transpired above a twenty year era, even though eras of inactivity and plummet due to governmental unpredictability and commercial...
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...Background: Since the late 1980’s the Russian people have experienced one of the most drastic transitions seen in the world to date, a transition from an attempt at communism to a workable capitalist system. As one would expect, this transition has not been painless and has been the impetus of many distressing problems for the Russian people. One such problem is organized crime. Organized crime during Soviet rule and the Russian Federation has created obstacles in this transition to a functioning market economy. This transition from the USSR to the Russian Federation has impaired Russia’s attempts at a market economy. It has worked its way through openings provided by the transition economy to become a setback to the Russian society and economy. Organized crime disables successful economic reform by influencing important issues such as competition, entrepreneurship, capital flight, the shadow economy, and violence. The major roots of organized crime in Russia go back to the middle of the twenty century. As early as the 1970’s, the Russian mafia had advanced to the status of primary protectors and beneficiaries in the robust Soviet shadow economy. By 1991, organized crime had expanded to form over 700 gangs in the Russian republic alone. This expansion was aided by Perestroika’s, a political movement within the Communist Party, opening up of market opportunities. In Leningrad, as much as ninety percent of the cooperatives produced by the liberal policies of Perestroika were...
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... On the other hand, the Renaissance emancipated people’s mind and facilitated the spread of ideas as freedom, equality and democracy which are essential to the founding of modern society. If the great discovery updated people’s physical outlook on the world, the Renaissance transformed their conception upon society and human beings. They became more conscious of the position they were in and unsatisfied with it, because it was not fair and now they knew it and wanted to change it. They were ready to resist any sort of imitative which had a potential to harm the rights of them. In this struggle between the king and the people, the king gradually lost his power and common will of the people prevailed. This transfer of power and the transition of society took place either by war and...
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...Ivan Moscati How cardinal utility entered economic analysis during the Ordinal Revolution 2012/5 UNIVERSITÀ DELL'INSUBRIA FACOLTÀ DI ECONOMIA http://eco.uninsubria.it In questi quaderni vengono pubblicati i lavori dei docenti della Facoltà di Economia dell’Università dell’Insubria. La pubblicazione di contributi di altri studiosi, che abbiano un rapporto didattico o scientifico stabile con la Facoltà, può essere proposta da un professore della Facoltà, dopo che il contributo sia stato discusso pubblicamente. Il nome del proponente è riportato in nota all'articolo. I punti di vista espressi nei quaderni della Facoltà di Economia riflettono unicamente le opinioni degli autori, e non rispecchiano necessariamente quelli della Facoltà di Economia dell'Università dell'Insubria. These Working papers collect the work of the Faculty of Economics of the University of Insubria. The publication of work by other Authors can be proposed by a member of the Faculty, provided that the paper has been presented in public. The name of the proposer is reported in a footnote. The views expressed in the Working papers reflect the opinions of the Authors only, and not necessarily the ones of the Economics Faculty of the University of Insubria. © Copyright Ivan Moscati Printed in Italy in december 2012 Università degli Studi dell'Insubria Via Monte Generoso, 71, 21100 Varese, Italy All rights reserved. No part of this paper may be reproduced in any form without permission of the Author...
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...system, The 3 major causes of the system change. Firstly, it’s the political change. Under the communist system, the transportation and communication networks were always in lingering. And also, at some areas, particularly causeway, were discouragingly polluted and the banking system was very narrow. Secondly, it’s the economic theory, the change was for government to consider the ways to set economic purpose and use their strength to direct the economy to try achieving those objectives. The government also followed the trend of selling off business enterprises to private firms in the anticipation that competition and the profit motive will increase their success achieved in the performance. Lastly, it’s the globalization. The increased of international trade and investment have decreased the gap of cultures, technologies and economic decision making. As the globalization carried on, the economies had also become more very much alike. Body The intention of this essay is test the benefits and failures of Russia's transition. The change of Russia shifting from planned to market system has brought many benefits. The graph below shows that the Russia’s GDP has increased throughoutly since 2000. Source : www.tradingeconomics.com (world bank) On the other hand, the productivity was also increasing. It is also a major factor for economic growth. There were evidence to it since middle of 19th century. The economic growth was mushrooming in the 20th century. It was because...
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...disadvantages of banking reforms in Mekong countries in comparative perspective Introduction In a number of transition economies the banking systems are at different stages of the transformation process from mostly planned to market economy structures. But the past two decades led to further distinctions in developments within these countries. This paper will review recent banking reform efforts in the lower Mekong countries (LMCs), including Cambodia, the Lao People’s Democratic Republic, and Vietnam. Associated by close economic and cultural links, the three LMCs have tackled the challenges of both economic development and transition to more market-based economies. These links are apparent as they are some of the countries that make up the Greater Mekong Subregion (GMS) which is a natural economic area bound together by the Mekong River. In 1992, with the assistance from the Asian Development Bank (ADB), these countries entered into a program of subregional economic cooperation designed to enhance economic relations among them. It is important to explain the economies of these countries to lay the grounds for analysis of banking reforms. It has become clear that increasingly, modernization and industrialization are emerging from a process of transition and transformation. The Mekong countries are gradually shifting from subsistence farming to more diversified economies, and to more open, market-based systems. In parallel with this are the growing commercial relations among these...
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...interest rates, capital, trade, and government. The classical school dominated the field of economics from the late 1700’s to the mid to late 1800’s and the expansion of economics from existing as a mere subject to evolving into a science that can be evaluated by mathematical equations sparked a growing interest in developing a road map and determining the boundaries of an economy. The publishing of Smith’s work along with Malthus, Mill, Ricardo, and many others created a foundation for other thoughts and theories to develop or be derived from. The classical school somewhat opened the flood gates and brought a greater interest to the science of limited resources and the philosophy of economic constructs. With the cornerstone already in place, economic theory expanded into broader horizons including the framework for theories such as Socialism, Marxism, Neoclassicism, and even Keynesian. Although the classical school of thought is fundamental within the study of economics, the discoveries and development of in depth theories led to other assumptions and viewpoints concerning society and the economy. These new spinoffs gained momentum within the community leaving the classical school as a stepping stone or stair case for the ascension of rational thought. If Darwinism can be applied to schools of thought within economic theory, perhaps the evolution from the classical period into other theoretical frames was as result of social evolution and unavoidable. As...
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...Introduction The Roaring Dragon Hotel has been the first four star hotel in the southwest part of china. Being a state owned enterprise (SOE) with a long and colorful history, it was the region’s premium guesthouse for visiting government officials, dignitaries and guests. (Grainger, 2008) Background The hotel was fairly successful in the planned economy era. However, the hotel started experiencing difficulties after a market economy begun to develop in the region in year 2000. The market economy brought about increased competition and thus requiring establishment to increase their efficiency in order to compete. This meant that change had to take place within the Roaring Dragon Hotel. The provincial government hired Hotel International (HI) to modernize the hotel ways of operation (Grainger, 2008). Problems HI team ignored the Guanxi practices that RDH has been maintaining for so long and which is also one of the main reason of their success. Consequently it resulted in loss of critical industrial contact. Rather than making a smooth transition, HI team changed the management into strict and demanding environment. Any employee who fails to meet the demand had to leave. Opportunities Involving employees in the change process enhances the chances of success. Employee involvement creates ownership of the process by employees, thus increasing support for the changes (Jones & Aguirre, 2004). Recommendations The establishment needs to prepare its employee for the change...
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...change and it sometimes happens quickly. Regardless of how challenging change can be, it is better to embrace it rather than foolishly trying to avoid it or stop it. In the workplace change is often non-negotiable. An employee generally has little to no control when the company is going in new directions.. However, how one chooses to react to it is personal. While change in the workplace is usually intended to be positive for business, understanding the factors that are relevant to an employee’s resistance to the change is significant and can help combat the challenges with the transition. Change is inevitable and usually necessary. In today’s workplace, businesses are forced to implement changes in an effort to expand and even to survive. Naturally, change introduces new challenges and demands or responsibilities for everyone affiliated. Having a certain level of patience can make the transition more tolerable. Take nature for an example. Picture the life cycle of a butterfly. Although the progress appears slow and drawn out, at metamorphosis is indeed occurring in the caterpillar. For a long while, nothing seems to be progressing, then suddenly the beautiful butterfly emerges, or blooms blossom and eggs hatch. Because most people are creatures of habit and follow their daily routines mindlessly, they tend to have a low tolerance for change. Once change occurs, it is disruptive. For most people it is a difficult path to transverse, particularly in the workplace where...
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...LTA Weekly Reflection Anna Davis, Anthony Schleppy, Aja Millar, Blair Brooks MGT/498 August 17, 2015 Dr. Judy Blando LTA Weekly Reflection Week 2 presented many opportunities for Team A to not only absorb new material but a chance to consider areas of strength and weakness. The following highlights the conversations Team A had in regards to areas of comfortability, team struggles, as well as the topics relating to certain team members fields. This week’s objectives, when combined, will set a company up for the best chance to succeed. Initially, the internal and external environments must be scanned. Such considerations include the natural environment and the effect the company may have on it, the societal environment, and the task environment to know how the company will be affected (Wheelen & Hunger, 2010). Scanning the environment will enable a company to identify opportunities as well as threats to the business model. The competitive strategy of a company is determined once the environment has been properly scanned. Two generic strategies are the low-cost strategy and the differentiation strategy (Wheelen & Hunger, 2010). A company should not necessarily choose one strategy over the other, but should find where it can cut costs and find any niche that can be taken advantage of to gain an edge on the competition. Company management should periodically scan the environment to identify any changes and to adjust the company’s competitive strategy as necessary-...
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...Critical Book Review of Boris Yeltsin`s “Midnight Diaries” Boris Yeltsin was the first freely elected President of Russia. He was President during the first turbulent decade of Post-Communist Russia. In his third memoirs Boris Yeltsin talks about his last years in presidential office: the presidential election campaign in 1996 and the role of his daughter Tatiana; the special relationship between Germany, France and Russia, which had developed after 1997; the inclusion of Russia into the G8-summits in 1998 and his attempts to maintain Russians position as a global power; the economic decline after the financial crisis of 1998 and his efforts to reform the economy; the wars in Chechnya and in the Kosovo in 1999 and the crisis of the military; his last public appearance to an international audience - the OSCE summit in Istanbul in 1999. Yeltsin talks not less frankly about his clashes with the Duma and his maneuvers with the new domestic political forces; the qualities of his five Prime Ministers and the transfer of power to Vladimir Putin; the eastward enlargement of NATO and the EU and his attempts to include Russia in the political and economic institutions of the West; his relationships with the Western leaders (Bill Clinton, Helmut Kohl and Gerhard Schröder) and his health problems that prevented him repeatedly from performing his duties. Boris Yeltsin’s career reflects the changes in Russia throughout the 20th century. He was a communist apparatchik who supervised the...
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...U. S. History I: 1607-1865 | | | | Question Answers Question 1 The age of Manifest Destiny is, at its heart, an age of expansion--or rather, an age of many expansions. Examine the interplay of three of these expansions: the expansion of slavery, the expansion of the market economy, and geographic expansion of the nation. How did these three expansions reinforce and feed off of each other? How did they bring the nation to what William Henry Seward referred to as the brink of an "Irrepressible Conflict" by 1858? Answer As America was growing, at a vast rate that might have been one of the side effects of expansion and it looking forward for room to expand. American believed that it was their God given choice or right to occupy others area. It was getting more common about to expanding widely than they captured many states and made them slave. It was believed that the expansion of slavery was the result of popular sovereignty. As the expansion of territories took place, slavery expanded a long with it. The expansion of slavery would not have been resolved until and unless some crises arose. However, the two options that were to be considered were either to extend slavery to all as the territories expanded or to end it completely. There was not concept of practicing slavery in one territory and not in the other. It had to be practiced uniformly in all territories. Slavery was not the problem then they gradually grew to be, although there were some rumblings in...
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