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161. Transfer of Know-how for Small and Mid-size Businesses in Georgia, Moldova and Ukraine White Paper: Ukraine

Author:
Vladimir Dubrovskiy
Publication Date:
03-2015
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
The publication was issued within the project ‘Transfer of Know-How for Small and Mid-size Businesses in Georgia, Moldova and Ukraine’ which aims to assist SMEs in those countries by providing support to stakeholders in their efforts to develop analytical and policy advocacy capabilities and by opening new channels of communication between SMEs and NGOs in the Visegrad Four countries (Czech Republic, Hungary, Poland and Slovakia) and the rest of the European Union. The objective of the study is to deliver the complete findings and outcomes of the project aimed at Ukraine. This White Paper serves as an authoritative document with action plans, budgets, and a tangible way for the beneficiary country stakeholders to move forward with the agenda of small and medium-sized business development. It presents an overview of the collected background information and contains basic data on the countries, including some key macroeconomic comparisons as well as rankings in major competitiveness reports (e.g. Doing Business report by the International Bank for Reconstruction and Development), identifies the project stakeholders and provides an overview of the situation of small and medium-sized enterprises in Ukraine. It also includes the findings of two surveys implemented by the Slovak-Ukrainian team. Based on the findings, the “Discussion and Recommendations” section presents various perspectives on the problems of SMEs in Ukraine using the experience of the accession process of Slovakia, specific examples of key initiatives that led to the resolution of the problems, as well as case studies from various industries. It stresses the involvement of all parties including the EU, local governments, civil society, business associations, and the SMEs themselves. The key outcome of the paper is a road map – a very specific plan of actions including schedules, budgets, and other details within the scope of this project that will help the beneficiary country to cope with problems regarding the agenda of small and middle business development using the expertise and experience of institutions and stakeholders accumulated throughout the Slovak EU accession process. It includes a wide range of activities including a discussion of the project results with various Ukrainian stakeholders, workshops aimed at increasing knowledge about EU markets, legislation and standards, as well as strategic and institutional moves.
Topic:
Development, Business, Economic growth, Macroeconomics, Innovation, and Trade
Political Geography:
Europe, Ukraine, Caucasus, Moldova, Eastern Europe, and Georgia

162. Post-privatisation Corporate Performance in Poland. Evidence from Companies Privatized in 2008-2011

Author:
Barbara Błaszczyk and Wiktor Patena
Publication Date:
11-2015
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
The study concerns the effects of Polish privatisation program conducted in the years 2008-2011. After drawing a broad picture of this process we investigate the performance of 59 privatised companies, and finally focus on a deeper analysis of three companies, which is the core part of our study. We test the hypotheses that privatisation increases a company's profitability, labour productivity, capital investment spending, plow-back ratio and leverage. In case studies, we additionally explore the effect of privatization on each company’s value. The outcomes concerning the larger group of companies are partly ambiguous (with four hypotheses confirmed and four rejected). Profitability has been not visibly improved, although a number of positive initiatives and improvements in performance occurred. By contrast, the three case studies showed a significant improvement of profitability and all other performance indicators observed, as well as a considerable increase of company value. Our results show that privatisation works, though its full effects need time to occur.
Topic:
Privatization, Financial Markets, Economy, Economic growth, State, Innovation, and Trade
Political Geography:
Europe, Central Asia, Caucasus, Eastern Europe, and Poland

163. Corporate debt securities market in Poland: state of art, problems, and prospects for development

Author:
Agnieszka Gontarek, Piotr Kowalski, and Tomasz Gałka
Publication Date:
09-2015
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
The development of the Polish corporate bonds market resulted from changes on the supply side. When the Lehman Brothers went bankrupt, Polish entrepreneurs realized that financing their companies’ operations only with the use of credit, even if contracted from different sources, might not be the best idea. Consequently, Polish business turned to debt instruments – said Piotr Kowalski, one of the keynote speakers during the mBank - CASE Seminar no. 136. In the publication, which is an extended and authorized version of presentations delivered during the abovementioned seminar, the authors discuss various aspects of the corporate debt securities market in Poland. Piotr Kowalski gives a synthetic presentation of the subject of the analysis, Agieszka Gontarek presents selected domestic regulations and factors, and Tomasz Gałka writes about selected consequences of excessive burdens.
Topic:
Debt, Business, Economic growth, Banks, and Trade
Political Geography:
Europe, Central Asia, Caucasus, Eastern Europe, and Poland

164. An assessment of direct and indirect liabilities of Polish banks AD 2015

Author:
Marek Radzikowski and Mieczysław Groszek
Publication Date:
08-2015
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
The present document is an attempt at a comprehensive analysis of direct and indirect burdens imposed upon banks in 2015. The idea to present such factors — which are often extremely varied in nature — in a single study was born out of the fact that these factors are often considered separately, on the basis of various criteria, which causes them to be split into different groups. This approach results in a fairly common tendency for fragmentary assessment of their impact and, more importantly, in the adoption of piecemeal regulations which fail to take into account the full impact of the actions taken in different areas. This applies in equal measures to supervisory authorities, regulators, analysts, policymakers and the media, which means that, in a somewhat oversimplified sense, the above statement is applicable to the public at large. This situation can be most succinctly characterised in the manner presented below. In the aftermath of the crisis, banks require a new set of instruments to regulate the functioning thereof. This is because they are to become more stable, safe, less risk-prone and more customer-friendly. Each of these areas requires a separate set of regulatory instruments, along with the respective subgroups thereof. Oftentimes they are not synchronised with each other and are usually aimed at the implementation of a specific, particular goal to an excessive extent. In addition, there are also “special tasks” such as the reform of the Credit and Saving Unions (SKOK).
Topic:
Finance, Economic growth, Banks, and Trade
Political Geography:
Europe, Central Asia, Caucasus, Eastern Europe, Poland, and European Union

165. A quarter century of economic reforms in Ukraine: too late, too slow, too little

Author:
Oleh Havrylyshyn
Publication Date:
03-2015
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
The first aim of this paper is to describe the main developments in the Ukrainian economy since its independence in 1991, focusing on the evolution of output, and the path of economic reforms — that is, to simply show what happened. The bottom line on that is well known: Ukraine’s economy performed very poorly, and its reforms moved quite slowly, lagging behind most of Central Europe and the Baltic, and even behind some FSU (Former Soviet Union) countries. This first task is a relatively easy one, though some measurement issues do need discussion. In comparison, the second aim — explaining why it happened, identifying the explanatory, causal factors — is much more difficult and contentious. Indeed, causation here means two dynamics: the relationship between performance and reform pace, and the underlying determinants of the slow reforms. The paper’s main effort will be to argue and present evidence that the poor economic performance is primarily due to the late and slow start on economic reforms. However, it only begins to point to the explanations for slow reforms and suggest a modeling approach to analyze this econometrically in future work.
Topic:
Development, Markets, Economy, Transitional Justice, Institutions, and Trade Liberalization
Political Geography:
Europe, Ukraine, and Eastern Europe

166. A More European Russia for a More Secure Europe; Proposals for a new European Union strategy towards Russia

Author:
Javier Morales
Publication Date:
06-2015
Content Type:
Working Paper
Institution:
Fundación Alternativas
Abstract:
The conflict in Ukraine, which has caused more damage to relations between the West and Russia than any other event since the end of the Cold War, is a focal point of instability that threatens the wellbeing of the EU. The time has come to renew the Union’s strategy towards Russia, an effort that will entail not only the thorough analysis of long-term European objectives needed to make EU policy more efficient and bring it into line with European interests and values, but also a recognition of diplomatic blunders made at the onset of the Ukrainian crisis. Rather than entering into a new Cold War focused on Russian containment, the EU should accept Moscow as the great power that it is and a potential partner in the construction of a space of shared security. The best way to ensure long-term continental security and stability would be for Russia to increasingly feel and become more a part of Europe and for Europe to make a sincere effort to get to know its Russian neighbour better.
Topic:
Cold War, Diplomacy, Regional Cooperation, and European Union
Political Geography:
Russia, Europe, Ukraine, and Eastern Europe

167. OSCE Principles in Practice: Testing Their Effect on Security Through the Work of Max van der Stoel, First High Commissioner on National Minorities 1993–2001

Author:
Marianna M. Yamamoto
Publication Date:
01-2015
Content Type:
Working Paper
Institution:
Center for International and Security Studies at Maryland (CISSM)
Abstract:
This monograph tests the OSCE approach to security. The OSCE approach to security encompasses all areas that can cause tensions and conflict between States, and is the result of a sustained effort by almost all of the world’s democracies on how to achieve both security and individual freedom. An important basis of the OSCE security concept is that international security cannot be achieved without the protection and promotion of individual rights and freedoms. The study first extracts from official OSCE documents a set of principles designed to achieve international security, and then uses the work of the first OSCE High Commissioner on National Minorities (HCNM), Max van der Stoel, to test the effectiveness of the principles in practice. From 1993 to 2001, HCNM Max van der Stoel applied OSCE principles in cases involving minority tensions with a high potential for international conflict, and this experience provided the means to assess the practical effects on security when OSCE principles are implemented. The study examined three cases that involved potential conflict: Ukraine and separatism in Crimea; Estonia and tensions regarding the Russian minority; and Macedonia and tensions regarding the Albanian minority. The study found that in each of the three cases, the implementation of OSCE principles reduced national and international tensions involving minority issues, and increased security. The increase in security was seen within each State, between States, and in the region, and reduced the potential for conflict within and between OSCE States. The results were particularly significant in view of the instability, conflicts, and tensions of the post–Cold War period; the OSCE’s ongoing institutionalization during the period; and the limited resources and tools available to the OSCE and the HCNM. The study identified and articulated twenty OSCE security principles that addressed national and international security. The principles addressed the rights and responsibilities of State sovereignty; a comprehensive, cooperative, and common security approach; the prevention of security threats and the peaceful resolution of issues; the protection and promotion of individual rights and freedoms through democracy, the rule of law, and the market economy; rights and responsibilities pertaining to national minorities; the development and advancement of shared values; and processes and mechanisms. The monograph extended the research on the OSCE principles to express an OSCE security concept. The OSCE security concept is a security framework based on the idea that security depends on the development and implementation of principles guiding three areas: how States deal with each other and resolve problems; the protection and promotion of individual rights within States; and the processes and mechanisms to review and advance values, principles, and commitments. The study showed that the implementation of OSCE principles in Ukraine, Estonia, and Macedonia significantly increased security in those three countries and the OSCE region. The study found that the OSCE principles and the OSCE security concept constitute a significant body of thought and practice regarding security, and respect for the individual. The OSCE principles, the OSCE security concept, and the work of the High Commissioner on National Minorities merit further examination, development, and application to national security policy and practice. The application to national security policy and practice is relevant to all security threats and problems.
Topic:
Security, Cold War, International Cooperation, and Conflict
Political Geography:
Russia, Europe, Ukraine, Eastern Europe, Estonia, Macedonia, and Crimea

168. Sustainable Northern Development: The Case For An Arctic Development Bank

Author:
Alan Gill and David Sevigny
Publication Date:
01-2015
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation
Abstract:
The creation of the multilateral development bank (MDB) model represents one of the most ingenious financial innovations in recent times. Initially designed to address the problems of financing reconstruction after World War II, this model has shown itself to be surprisingly adaptable to meet a range of other challenges. These have included fostering developing country growth, dealing with the developing world debt problem and facilitating the transition of countries within Central and Eastern Europe from centrally planned to market-based economies.
Topic:
Economics and War
Political Geography:
Eastern Europe and Chicago

169. Russia vs. EU/US through Georgia and Ukraine

Author:
David Matsaberidze
Publication Date:
03-2015
Content Type:
Journal Article
Journal:
Connections
Institution:
Partnership for Peace Consortium of Defense Academies and Security Studies Institutes
Abstract:
This paper aims to analyze the construction and transformation of the post-Soviet security perspectives of Georgia and Ukraine in the context of the post-Soviet Russian foreign policy in the “near abroad,” quite often termed the “legitimate sphere” of Russian influence by high-ranking Russian officials. This inquiry covers the panorama of the foreign policy in post-Soviet Russia across the FSU, from the early 1990s through to the present, where Georgia and Ukraine’s independent and pro-Western orientation are the main issues securitized for the Russian Federation. Accordingly, the maintenance of territorial integrity has become a security priority for Georgia since the early 1990s and will most likely be Ukraine’s top concern after the Crimean occupation by the Russian Federation in March 2014 and the subsequent developments in Eastern Ukraine. Therefore, it could be claimed that post-Soviet Russian and Georgian/Ukrainian security strategy (following peaceful revolutions) represent a zero-sum game.
Topic:
Security, Foreign Policy, Diplomacy, Imperialism, Military Strategy, and European Union
Political Geography:
Russia, United States, Europe, Ukraine, Eastern Europe, and Georgia

170. Central Asian Stances on the Ukraine Crisis: Treading a Fine Line?

Author:
Emilbek Dzhuraev
Publication Date:
09-2015
Content Type:
Journal Article
Journal:
Connections
Institution:
Partnership for Peace Consortium of Defense Academies and Security Studies Institutes
Abstract:
For over a year now, the crisis in and over Ukraine has been a stable fixture among the top issues of concern and deliberation internationally. The subject has become a point of polarized debate, with most contributions favoring one side or the other between the collective “West” and Russia. Similar to most trending debates, especially those as divided as this, the discussion has tended to simplify the issue by lumping everything into singular categories, be they “Russian imperialism,” “American conspiracy,” “Ukrainian fascism,” or “the new Cold War.” However, the matter is far more complex. This essay offers a mostly non-aligned analytical overview of the positions of five Central Asian countries on the subject. What these countries’ stances elicit is the complexity of the problem and the many-sided effects and challenges the involved and surrounding parties need to face, where it is far from obvious why a country takes this or that stance, or—even more tellingly—why it appears to vacillate. From such an overview, a number of more general conceptual rewards can be derived.
Topic:
Imperialism, Regional Cooperation, Military Strategy, and Armed Conflict
Political Geography:
Russia, Europe, Central Asia, Ukraine, Eastern Europe, and Asia