Organizations → EBRD
- Tajikistan: Agitating For a Central Asian Water-Management Framework
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November 26, 2007 17:42
Tajikistan is agitating for greater cooperation among Central Asian states on water-related issues. Publicly, some of Dushanbe’s neighbors are resisting the Tajik water-management initiative. But some experts say Central Asian states, in particular Tajikistan and Uzbekistan, are working quietly to resolve differences.
- Competition in the power sectors of transition economies
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November 26, 2007 17:41
Radical reform of the power sector is under way in a number of EBRD countries of operations. This paper is concerned with the introduction of competition to the power sectors of transition economies. In particular, the paper focuses on the reform path from vertically integrated state-owned monopoly to liberalised industry, and on the appropriate model of competition.
- Capital flows to eastern Europe and the former Soviet Union
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November 26, 2007 17:07
This paper examines some of the determinants and consequences of capital flows into the region.
- Macroeconomic and financial stability: transition and East Asian “contagion”
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November 26, 2007 17:06
The analysis reveals considerable variation across the region with respect to both macroeconomic fundamentals and the ability to withstand shifts in the portfolio allocations of investors.
- Private ownership and corporate performance: evidence from transition economies
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November 26, 2007 15:41
The assumption behind privatisation in eastern Europe and elsewhere is that private ownership improves corporate performance. The paper focuses on comparing the performance of state firms with either private or privatised firms operating under reasonably similar conditions in three countries of eastern Europe.
- Financing transition: investing in enterprises during macroeconomic transition
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November 26, 2007 15:40
This paper examines investment decisions and financing during the transition to a market economy, and the link between enterprise performance and macroeconomic conditions. A number of simulations are carried out on three stylised EBRD investments across three groups of countries in transition
- The transition in eastern Europe and the former Soviet Union: some strategic lessons from the experience of 25 countries over six years
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November 23, 2007 15:53
The purpose of this paper is to draw strategic lessons from the experience of the economic transition. It will be based on the experience since 1990 of the 25 countries of operations of the EBRD.
- Macroeconomic policy and the role of the state in a changing world
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November 23, 2007 15:52
The purpose of this paper is to assess macroeconomic policy and the role of the state in light of the experiences in the 50 years since Keynesian ideas were broadly applied, the changing structure of the world economy and the advance of economic ideas.
- A framework for a development strategy in a market economy: objectives, scope, institutions and instruments
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November 23, 2007 15:51
Defining responsibilities and assigning roles in a partnership between the state and the market economy and other elements of society to promote basic development objectives and specifying how the state discharges its responsibilities within the partnership. A well-functioning economy requires a mix of government and markets. The balance, structure and functioning of that mix is at the heart of a development strategy. The mix is not simply an assigning of certain areas to one or the other domain. The more appropriate analogy is that of a partnership, in which each partner is assigned certain areas of responsibility. The political process makes the assignments, and the task of this book is to provide an analytic basis to help examine how those assignments should be made.
- Promoting an effective market economy in a changing world
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November 23, 2007 15:51
This paper examines the main challenges in promoting an effective market economy. While the paper ranges widely across the spectrum of economic institutions and policies, the central theme is the importance of macroeconomic stability for economic growth in the medium and long run.
- The future of the economic transition
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November 23, 2007 15:48
This paper provides a schematic account of the transition so far, draw some lessons from the experience, identify challenges for the next phase and finally provide some speculations on prospects for the future.
- Is lack of funds the main obstacle to growth?
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November 23, 2007 15:47
This paper discusses the shortcomings of the financial system in the countries of central and eastern Europe and their implications in terms of the severity of the liquidity constraint for SMEs in transition. The paper also analyses the fundamental principles on which EBRD policy to finance SMEs is based.
- Telecommunications, informatics and media
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November 23, 2007 15:36
Recent progress and investment needs, EBRD objectives, Investment priorities, Investment priorities, EBRD financing, Other operational activities.
- Europe and Central Asia's great post-communist social health insurance experiment : impacts on health sector and labor market outcomes
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November 23, 2007 13:27
The post-communist transition to social health insurance in many of the Central and Eastern European and Central Asian countries provides a unique opportunity to try to answer some of the unresolved issues in the debate over the relative merits of social health insurance and tax-financed health systems. This paper employs a regression-based generalization of the difference-in-differences method and instrumental variables on panel data from 28 countries for the period 1990-2004.
- Enterprise restructuring and social benefits
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November 23, 2007 13:24
The paper designs a simple scheme of transitional support and show that it can be financed from the savings from removal of current subsidies to benefits.
- Policy and implementation issues in reforming pension systems
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November 23, 2007 13:22
In the light of the existing financing problems of pay-as-you-go social security pension systems and the greater difficulties they will face in future as the demographic situation deteriorates, the issue of pension reform is becoming a matter of growing importance in OECD countries, developing countries and countries in transition. This paper seeks to facilitate discussion of the underlying economic issues by offering a schematic presentation of the various benefits and costs arising from the various alternatives available in respect of reform, with the major emphasis being on a shift towards funding.
- Foreign bank participation and crises in developing countries
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November 23, 2007 13:10
This paper describes the recent trends in foreign bank ownership in developing countries, summarizes the existing evidence on the causes and implications of foreign bank presence, and reexamines the link between banking crises and foreign bank participation.
- Building sound banking in transition countries
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November 23, 2007 13:08
This working paper collects the contributions made by invited participants (listed above) to a seminar organised by the EBRD's Office of the Chief Economist during the Bank's Annual Meeting held in London on 11-12 April 1995.
- Russian Dilemmas
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November 23, 2007 13:06
This paper discusses some aspects of the legacy of the socialist past that make Russia's (or Ukraine's) macroeconomic policy problems rather different from those of the Latin American countries whose stabilisations are often cited as models for the USSR successor states. In particular, we want to consider (1) the structure of the inherited capital stock and (2) the lack of financial instruments, institutions, and markets.
- Optimal design of bank bailouts: the case of transition economies
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November 23, 2007 13:03
In most recent banking crises bank regulators have been caught off their guard and have been forced to respond to the crisis in a hurry without the support of an institutional or legal framework designed to deal with bank failures. This is in sharp contrast with the non-financial sector, where a detailed and elaborate bankruptcy law governs the process of liquidation or reorganisation of financially distressed firms. In this paper we address the question of how to design a bankruptcy institution for banks that would serve a similar purpose as existing bankruptcy laws for non-financial firms.
