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71. Montenegro: In the Shadow of the Volcano

Publication Date:
03-2000
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
Montenegro has been a crisis-in-waiting for two years now, with Belgrade opposing efforts by a reform-minded government under President Milo Djukanovic to distance itself ever further from its federal partner Serbia. Federal President Slobodan Milosevic has steadily escalated the pressure against Djukanovic, probing the extent of NATO support for Montenegro and pushing the Montenegrins toward a misstep that might undermine their international backing. Each of the three possible policy-paths facing the Montenegro government, however, is unappealing in its own way:Going ahead with a referendum on independence for Montenegro would risk radicalising a population still peacefully divided over the issue, and would offer maximum provocation to Belgrade, which retains a powerful military presence in Montenegro. Maintaining the status quo may offer a better chance of avoiding open confrontation with Belgrade, but it leaves Montenegro in a limbo. Its friends are not offering all the help they could, on the grounds that it is not a sovereign state; but prospects for selfgenerated income through inward investment or revival of the tourist industry are still hostage to international risk perceptions. Achieving rapprochement with the Serbian government would be possible if Milosevic went. But Montenegro cannot afford to leave its future in the unsure hands of the present Serbian opposition. And as the atmosphere in Serbia steadily worsens, political and public opinion in Montenegro appears to grow ever less willing to compromise.
Topic:
Conflict Resolution, NATO, Economics, and Politics
Political Geography:
Eastern Europe, Serbia, and Montenegro

72. Regional Economic Development in Eastern Europe: An Example from Poland

Author:
Raymond Struyk and Sharon Cooley
Publication Date:
07-2000
Content Type:
Working Paper
Institution:
Urban Institute
Abstract:
Small cities and towns are rapidly being recognized as key actors on the road to sustained economic development in the countries of Eastern Europe. Whether they are able to execute this central role will depend on their being able to undertake essential investments—which in turn requires the availability of finance and the strengthening of local administrative capacity.
Topic:
Development, Economics, and Government
Political Geography:
Europe and Eastern Europe

73. An Economic System for Post-War South-East Europe

Author:
Daniel Gros
Publication Date:
05-1999
Content Type:
Working Paper
Institution:
Centre for European Policy Studies
Abstract:
Economic recovery in the region requires stable currencies and open markets. The best way to establish these two basic conditions quickly is for the countries concerned to immediately link their currencies to the euro via a currency board and join the customs union of the EU. The EU should support this radical approach financially in two ways: a) through compensation for lost tariff revenues (conditional on clean and efficient border controls), and, b) emergency loans to acquire the necessary backing for the currency board. The currency boards should graduate to full euroisation in 2002. The total cost for the EU would be modest: around 2 billion euro p.a. if all countries participate. A market-led approach that pays local hosts to house refugees would ensure that the expenditure on refugees benefits the local economies.
Topic:
Development, Economics, International Trade and Finance, and Migration
Political Geography:
Europe and Eastern Europe

74. Ukraine: Challenges of the Continuing Transition

Publication Date:
08-1999
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
The views expressed are those of individuals and do not represent official US intelligence or policy positions. The NIC routinely sponsors such unclassified conferences with outside experts to gain knowledge and insight to sharpen the level of debate on critical issues.
Topic:
Development, Economics, and Politics
Political Geography:
United States, Ukraine, and Eastern Europe

75. Environmental Trends in Transition Economies

Publication Date:
10-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The collapse of communism in Central and Eastern Europe and the subsequent disintegration of the Soviet Union brought the region's serious environmental problems to the attention of the international community. Although the countries in this vast area of the world are remarkably diverse, central economic planning had created a common pattern of environmental problems. Notable among these problems were levels of industrial pollution that, in many places, threatened human health; widespread land and water degradation (particularly in the former Soviet Union); and the persistent neglect of nuclear safety and nuclear waste management.
Topic:
Economics, Emerging Markets, and Environment
Political Geography:
Eastern Europe and Soviet Union

76. Economic Strategy for South Eastern Europe

Publication Date:
11-1999
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
The international community has produced a plethora of projects, proposals and initiatives for South Eastern Europe. In spite of this, the region still lacks a viable, result-oriented economic strategy, which understands and addresses the fundamental economic needs of the region. In response to this need the EastWest Institute, in close co-operation with the Business Advisory Council of the Southeast European Co-operative Initiative, launched a small Task Force on Economic Strategy for South Eastern Europe. The Task Force included fourteen leading business executives and economic experts from the region with first-hand knowledge of the economic and business environment on the ground. Over the course of a series of meetings, which analysed country and regional data and discussed various policy options, the Task Force produced this report. Its intention is to focus the attention of all those who want to help the Balkans, including their political leaders, on the real causes of conflict, poverty, and isolation in the region. Its recommendations offer guidelines for embarking on what we believe is the right path of reform and development. Very often the policies applied in the Balkans, both by the international community and the domestic politicians, reflect an agenda that was not internalised by the "subjects" of reform, i.e. the people living in the region. We believe that the focus of our report on developing the human capital of the region and creating employment opportunities in an integrated regional market will gather strong internal support for a more stable and prosperous Balkans.
Topic:
Security, Economics, and Politics
Political Geography:
Eastern Europe, Balkans, and Maryland

77. Currency Boards or Dollarization — Solutions or Traps

Author:
John Chown
Publication Date:
08-1999
Content Type:
Policy Brief
Institution:
Chatham House
Abstract:
Currency boards have been suggested for Russia, and adopted elsewhere in eastern Europe. Brazil's fixed rate has had to be abandoned, but Argentina is considering replacing its currency board with dollarization, and suggesting this solution for the rest of Latin America. Fixed exchange-rate regimes (and the crawling peg in Russia) have collapsed in Southeast Asia but Hong Kong, which had a formal currency board, has (so far) survived.
Topic:
Economics and International Trade and Finance
Political Geography:
Russia, Eastern Europe, Latin America, Central America, Caribbean, and North America

78. U.S. Assistance for Market Reforms: Foreign Aid Failures in Russia and the Former Soviet Bloc

Author:
Janine R. Wedel
Publication Date:
03-1999
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
Since the fall of the Berlin Wall in 1989 and the subsequent breakup of the Soviet Union in 1991, the governments of the United States and other Western countries have provided massive aid to promote a transition to the free market in Central and Eastern Europe and the former Soviet Union. But aid for market reforms in the region has been largely ineffective. Whether provided in the form of technical assistance, grants to political groups or nongovernmental organizations, loans and guarantees to the private sector, or direct financial aid to post-communist governments, that aid has been plagued by a number of problems. The failed $22.6 billion bailout of Russia by the International Monetary Fund in July 1998 only confirmed the flawed nature of the aid-for-reform approach.
Topic:
Economics and Emerging Markets
Political Geography:
Russia, United States, Europe, Eastern Europe, Asia, and Soviet Union

79. Republika Srpska in The Post-Kosovo Era: Collateral Damage and Transformation

Publication Date:
07-1999
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
Repercussions from Kosovo continue to shake Republika Srpska (RS), and may prove a catalyst for further transformation and reform. The war's collateral damage included severance of trade ties with the Federal Republic of Yugoslavia (FRY); a dramatic rise in unemployment; a sharp drop in production and state revenues; and a tide of Serbian refugees from FRY into RS.
Topic:
Economics, Government, Migration, and Politics
Political Geography:
Eastern Europe, Kosovo, and Yugoslavia

80. Why Will No One Invest In Bosnia and Herzegovina?

Publication Date:
04-1999
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
The donor countries hoped the governments of Bosnia and Herzegovina would use the promised $ 5.1 Billion post-war reconstruction aid to undertake the structural changes necessary to transition from communism to capitalism. As donor-aid diminished, private investment would replace it, stimulated by structural reforms. Unfortunately, this has not been the case. Indeed, interviews with Bosnian and foreign businessmen show a common reluctance to invest in BiH.
Topic:
International Relations, Economics, International Trade and Finance, and Politics
Political Geography:
Bosnia, Herzegovina, and Eastern Europe