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11. India Country Risk Report

Publication Date:
12-2007
Content Type:
Working Paper
Abstract:
The Indian National Congress party, which heads the United Progressive Alliance (UPA) government, is doing relatively well in the opinion polls and may be tempted to call an early general election within the next six months (the poll must take place by May 2009). However, the outcome of the election is likely to be another coalition government. Major reform-oriented policy changes are unlikely to be pushed through in the run-up to the election, particularly given the rift between the UPA and its leftist political allies. Monetary policy will be put on hold in 2008 while inflationary pressures abate. Real GDP growth is forecast to moderate slightly, to 7.9% in fiscal year 2008/09 (April-March) and 7.2% in 2009/10. Strong domestic demand will lead to a widening of the merchandise trade deficit over the forecast period, but surpluses on the services and transfers accounts will limit the current-account deficit to an annual average of 1.5% of GDP in 2008-09.
Topic:
Economics, Political Economy, and Privatization
Political Geography:
India and Asia

12. Was Liberty Really Bad for Russia?

Author:
Leon Aron
Publication Date:
09-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Part I of this Russian Outlook dealt with what might be called the errors of commission, or false attribution, in the "chaos-of-the-1990s" stereotype, which became a major theme of the Putin Kremlin's propaganda. The economic crisis of that era, mostly inherited from the decaying Soviet economy, was laid at the revolutionary regime's door. Yet the "chaos" legend also contains errors of omission, for, on closer inspection, there was a great deal in the 1990s besides the alleged "chaos."
Topic:
Civil Society, Democratization, Government, Politics, and Privatization
Political Geography:
Russia, Eastern Europe, Asia, and Soviet Union

13. Le débat russe sur l'informel

Author:
Myriam Désert
Publication Date:
05-2006
Content Type:
Working Paper
Institution:
Centre d'Etudes et de Recherches Internationales (CERI)
Abstract:
What are the roots of the informal sector and what effects does it have? Is it a blessing or a curse? Changes in post-Soviet Russia contribute new food for thought to a debate that had previously been nourished primarily by considerations on the situation in developing countries. In Russia can be observed processes of formalization – and “deformalization” – of the rules governing not only the practices of economic actors, but also in the rarified distribution of public services publics. The analysis of actual informal practices feeds thinking about the relations between economic and political changes: what impact do they have in setting up a market economy and the rule of law, and in the reconfiguration of both the economic and social arena? An investigation into the way Russian academic circles and social actors view the informal sector sheds light on the various behavioral determinant: reaction to the economic context, cultural roots, social beliefs, and so on. The case of Russia illustrates how the informal sector is not only a mode of action that circumvents legal guidelines, but also a mode of sociability that rejects anonymous social relations. It helps examine ways to reinject the social aspect into economics.
Topic:
Government, Political Economy, and Privatization
Political Geography:
Russia, Europe, and Asia

14. A Proposal to Privatize Chinese Enterprises and End Financial Repression

Author:
Deepak Lal
Publication Date:
07-2006
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
China’s remarkable economic performance during the last two decades has rightly been hailed as an economic miracle. In this article, I briefly summarize the sources of the miracle, outline the serious problems China still faces because of the continuing financial repression necessitated by its unreformed and inefficient state-owned enterprises (SOEs), and provide a possible solution based on an efficient use of China’s burgeoning foreign exchange resources.
Topic:
Privatization, Finance, Economy, and State-Owned Enterprises
Political Geography:
China and Asia