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5611. 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

5612. 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

5613. 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

5614. Macedonia Update: Challenges and Choices for the New Government

Publication Date:
03-1999
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
The new Macedonian government marked its first hundred days in office in early March. Formed by the Macedonian Internal Revolutionary Organisation-Democratic Party for Macedonian National Unity (VMRO-DPMNE), the Democratic Alternative (DA), and the Democratic Party of Albanians (DPA) after the last parliamentary elections in October and November 1998, the government is headed by VMRO- DPMNE Chairman Ljubco Georgievski and has a comfortable majority of 73 out of 120 seats in the current parliament.
Topic:
Economics, Ethnic Conflict, Government, and Politics
Political Geography:
Eastern Europe

5615. Macedonia:"New Faces In Skopje"

Publication Date:
01-1999
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
The recent parliamentary elections and the change of government in Macedonia in many respects are a landmark in the country's development. The smooth transition of power from one political camp to another and the fact that the "radicals" from both major ethnic groups rather than the more moderate parties form the new government are significant in themselves. If the new government manages to solve Macedonia's problems, it might also have repercussions throughout the region. This report, prepared by ICG's field analyst in Skopje, looks back and draws lessons from the elections and the formation of the new government, looks ahead at the key policy changes facing the new administration, and assesses the capacity of the ruling coalition to meet those challenges.
Topic:
Economics, Ethnic Conflict, Government, and Politics
Political Geography:
Eastern Europe

5616. The State Of Albania

Publication Date:
01-1999
Content Type:
Working Paper
Institution:
International Crisis Group
Abstract:
Premier Pandeli Majko's new coalition government is slowly consolidating its hold over the administration, though the overall power of the government remains weak after the country was rocked in September by the worst political violence since the uprising of March 1997. Within the cabinet the deputy premier Ilir Meta has emerged as the key power in most decision-making and policy implementation. The new government consists of representatives of the Socialist Party (PS), the Social Democratic Party (SDP), Union of Human Rights Party (PBDNj - this party represents the ethnic Greek minority), Democratic Alliance (AD), and the small Agrarian Party (AP). The largest opposition grouping the Democratic Party (DP), led by former president Sali Berisha, does not recognise the legitimacy of the Socialist-led government, is continuing its boycott of parliament and staging street rallies to push for early elections.
Topic:
Security, Economics, Government, and Politics
Political Geography:
Eastern Europe and Albania

5617. The Globalization of Services: What Has Happened? What Are the Implications?

Author:
Gary Hufbauer and Tony Warren
Publication Date:
10-1999
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Globalization has affected all facets of the world economy. This includes services, which in most economies are the single largest contributor to economic growth and employment. However, despite its importance to national output, the impact of globalization on services is only recently receiving the attention of researchers and policy-makers.
Topic:
Economics, International Trade and Finance, and Political Economy

5618. Hazards and Precautions: Tales of International Finance

Author:
Gary Clyde Hufbauer and Erika Wada
Publication Date:
09-1999
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
In the wake of financial crises in Mexico (1994-95), Asia (1997-98), Russia (1998) and Brazil (1998-99), respected observers have questioned the benefits of wide-open international capital markets (Bhagwati, 1998; Krugman, 1998; Rodrik, 1998; Eichengreen, 1999). Our purpose is to identify true hazards and suggest appropriate precautions.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
Russia, Asia, Brazil, and Mexico

5619. Does Talk Matter After All? Inflation Targeting And Central Bank Behavior

Author:
Adam S. Posen and Kenneth N. Kuttner
Publication Date:
09-1999
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
Since 1990, a number of countries have adopted inflation targeting as their declared monetary strategy. Interpretations of the significance of this movement, however, have differed widely. To some, inflation targeting mandates the single-minded, rule-like pursuit of price stability without regard for other policy objectives; to others, inflation targeting represents nothing more than the latest version of cheap talk by central banks unable to sustain monetary commitments. Advocates of inflation targeting, including the adopting central banks themselves, have expressed the view that the transparency and communication of the inflation targeting framework grant the central bank greater short-run flexibility in pursuit of its long-run inflation goal.
Topic:
Economics, International Organization, International Trade and Finance, and Political Economy

5620. Modeling Korean Unification

Author:
Marcus Noland, Sherman Robinson, and Tao Wang
Publication Date:
07-1999
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
For North Korea, product market integration would generate large welfare gains, sufficient to end the famine. Additional gains could be had through military demobilization. For the South, the impact of product market integration would be trivial, but the impact of factor market integration would be considerable, affecting the composition of output, distribution of income, and rate of growth.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
Israel, East Asia, and Korea