What Happened in East European (Political) Economies?

2009 ◽  
Vol 23 (4) ◽  
pp. 479-490 ◽  
Author(s):  
Mitchell A. Orenstein
Keyword(s):  
Economic Growth ◽  
Economic Reforms ◽  
The European Union ◽  
Economic Relations ◽  
East European ◽  
Neoliberal Reform ◽  
Radical Reform ◽  
Rapid Economic Growth ◽  
Economic Production ◽  
Political Economies

Assessing the results of neoliberal reform remains controversial even twenty years after 1989. While neoliberal reform programs appeared to have finally produced rapid economic growth in the 2000s after a long transitional recession, the 2008 global economic meltdown plunged Central and East European countries back into crisis. This article offers a mixed assessment of the results of neoliberal economic reforms and questions the easy compatibility of democracy and radical reform observed during the 1990s. Since the 2000s, both democratic and authoritarian countries in Eastern Europe have experienced rapid growth. Geopolitics, more than reform or democracy, seems to separate the winners from the losers. Successful countries are those that either joined the European Union or developed close political and economic relations with Russia. Those betwixt and between and those suffering internal strife (or both) still have not reached 1989 levels of economic production.

scholarly journals THE ECONOMIC UPTURN OF TURKEY UNDER THE AK PARTY’s GOVERNANCE

2015 ◽  
Vol 2 (3) ◽  
Author(s):  
Hakan Özkan
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Reforms ◽  
Customs Union ◽  
The European Union ◽  
Important Condition ◽  
Export Strategy ◽  
Reform Program ◽  
Economic Upturn ◽  
Slight Growth

Comprehensive economic reforms have been conducted since the Adalet ve Kalkınma Partisi Party (AK Party) came to power. In particular, the reform program accepted in 2002 accelerated Turkey’s existing policy of opening the country to outside world. The AK Party relied on the Customs Union Agreement with the European Union (EU), which was enforced in 1996 as an important condition for a successful export strategy. Within the framework of the government’s studies, visible changes occurred in the economy. In May 2003, inflation regressed and economic growth of 5.9% was realised. The AK Party continued this slight growth through the IMF programme, which continuously regressed inflation.

scholarly journals INSTITUTIONAL AND VALUABLE BASICS OF REFORMS IN UKRAINE: EUROPEAN CONTEXT

2018 ◽  
Vol 1 (14) ◽  
pp. 51-61
Author(s):  
Oleksii Leonidovich Valevskyi
Keyword(s):  
Economic Growth ◽  
The European Union ◽  
Negative Consequences ◽  
Association Agreement ◽  
Economic Relations ◽  
Legal Norms ◽  
European Context ◽  
Social Sphere ◽  
The Social ◽  
Institutional Traps

The institutional and value bases of the modernization path of development of Ukraine in the European context are analyzed. The reasons for systemic reforms are indicated. In particular, this is the technological backwardness and raw orientation of the Ukrainian economy, the need to ensure sustainable economic growth and the critical state of the social sphere. It is stated that the lack of systemic successful reforms and a vicious populist social policy for decades led to Ukraine becoming one of the poorest European countries. The Association Agreement between Ukraine and the European Union has become an incentive for implementing the necessary reforms and institutional changes in the economy and the social sphere. The implementation of the Agreement means for Ukraine the need to enforce the legal norms of European legislation and the creation of institutional conditions that can ensure economic growth. The institutional, psychosocial and political reasons for the inhibition of reforms are analyzed. In particular, it is proved that one of the obstacles to the success of Ukrainian reforms is the phenomenon of institutional traps. Reformers offer a new system of socio-economic relations, but post-totalitarian institutions, functioning in the old values co-ordinates, do not perceive change. Therefore, the implementation of liberal doctrines leads to negative consequences. An institutional trap is a situation where destructive values and behavior patterns become stable norms of life and make any modernization strategy ineffective. The necessity of creating new macro-political and institutional bases of the state policy of reforms in Ukraine is being proved. The main directions of formation of institutional and value aspects of reform policy are indicated.

The Transformation of the Chinese Economy

2018 ◽  
pp. 13-32
Author(s):  
Rhys Jenkins
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Private Sector ◽  
Direct Investment ◽  
Global Economy ◽  
Economic Reforms ◽  
Chinese Economy ◽  
Outward Foreign Direct Investment ◽  
Rapid Economic Growth ◽  
Key Aspects

The chapter presents an analysis of the growth of the Chinese economy since the late 1970s, and the various phases of economic reform during that period. It shows the ways in which China became increasingly integrated with the global economy through trade and inward investment, and later, by outward foreign direct investment. Key aspects of the economic reforms discussed are those of the financial sector that led to the creation of the policy banks, and enterprise reform, leading to changes in the management of state-owned enterprises and the growth of the private sector. Developments in the Chinese labour market affecting employment, wages, and productivity are also considered. Finally, the negative environmental impacts of China’s rapid economic growth and the responses to it are discussed.

scholarly journals LIBERALIZATION OF ECONOMIC DEVELOPMENT AS A DRIVER OF ECONOMIC GROWTH AND COMPETITIVENESS OF UKRAINE`S ECONOMY

2019 ◽  
Vol 4 (8) ◽  
pp. 77-82
Author(s):  
Olena Nesterenko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Economic System ◽  
Economic Freedom ◽  
Economic Life ◽  
Main Task ◽  
Political Dimension ◽  
Economic Relations ◽  
Rapid Economic Growth ◽  
Long Time

For a long time theoretical representations and real actions of the reformers of the socio-economic system were in the plane of the orthodox neoclassical theory. At the same time, reformist rhetoric contained leading neo-liberal ideas, which substantially discredited them. The main task of the author is to restore the reputation of the neo-liberal economic doctrine as a whole and to prove the necessity of liberalizing the Ukrainian economy in particular. The article reveals the essence of the liberalization of economic life as a movement towards economic freedom in the broadest sense. The main ideological and philosophical content of liberalization is the strengthening of human-centered economic system, the transparency of economic relations, the humanization of the economic space, the institutionalization of interactions between all economic actors. In turn, the key economic and political dimension of liberalization can be represented by an integrated index of economic freedom, which assesses the level of real support for economic freedom by the relevant institutions and policies of the countries. The author analyzes the sources and factors of the expansion or limitation of the influence of state policy and institutions on economic freedom, which determine the level of socio-economic development of countries. It has been determined that countries that have formed relevant institutions and policies that promote economic freedom have higher levels of income, wealth, investment and more rapid economic growth.

scholarly journals Sources of Economic Growth in Kyrgyzstan

2017 ◽  
Author(s):  
Ainura Turdalieva
Keyword(s):  
Economic Growth ◽  
Import Substitution ◽  
Input Output ◽  
Macroeconomic Policies ◽  
Output Analysis ◽  
Economic Relations ◽  
Analytical Technique ◽  
Macroeconomic Analysis ◽  
Economic Production ◽  
Export Expansion

The input - output analysis is an analytical technique of economic analysis and used to examine the production-consumption relationship between the economic production sectors. At the same time, this technique is the useful tool for macroeconomic analysis, which identifies inter-sectoral economic relations in the industry by production and consumption dimensions. For this study, two input-output tables for the years 2005 and 2014 were used. Tables consist of the same content and number of sectors and the sources of economic growth for the given period calculated by Syrquin Decomposition model. Syrquin Model is a demand-side approach, which decomposes economic growth into four main sources: domestic demand expansion, export expansion, import substitution and technological change. In addition, the study investigates the source of production increase that occurred in producing sectors. Within this framework, the results obtained for aggregated main eight sectors and the whole economy will give insight for the efficiency of macroeconomic policies, which implemented in Kyrgyzstan. This aspect of the research results is expected to contribute for the more rational economic policy.

scholarly journals THE ECONOMIC UPTURN OF TURKEY UNDER THE AK PARTY’s GOVERNANCE

2015 ◽  
Vol 2 (3) ◽  
pp. 348-363
Author(s):  
Hakan Özkan
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Reforms ◽  
Customs Union ◽  
The European Union ◽  
Important Condition ◽  
Export Strategy ◽  
Reform Program ◽  
Economic Upturn ◽  
Slight Growth

Comprehensive economic reforms have been conducted since the Adalet ve Kalkınma Partisi Party (AK Party) came to power. In particular, the reform program accepted in 2002 accelerated Turkey’s existing policy of opening the country to outside world. The AK Party relied on the Customs Union Agreement with the European Union (EU), which was enforced in 1996 as an important condition for a successful export strategy. Within the framework of the government’s studies, visible changes occurred in the economy. In May 2003, inflation regressed and economic growth of 5.9% was realised. The AK Party continued this slight growth through the IMF programme, which continuously regressed inflation.

scholarly journals Economic growth in the European Union

2006 ◽  
Vol 58 (4) ◽  
pp. 387-413 ◽  
Author(s):  
György Simon
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Policy ◽  
German Economy ◽  
The European Union ◽  
Mathematical Economics ◽  
Important Conclusion ◽  
Economic Relations ◽  
Empirical Results ◽  
The 1960S

According to the empirical results expounded in the paper, the European Union?s economic growth since the 1960s has proceeded in many respects in conformity with regularities similar to those of the German economy. A combined influence was exerted by growth mechanism regularities, economic policy and international economic relations. Using models of mathematical economics, the author analyses the main relationships. The most important conclusion on the basis of empirical results is that the relatively slow economic growth of our days may be accelerated by a switch to a growth-oriented economic policy.

Structural Change in the European Union and Its Periphery: Current Challenges for the Western Balkans

2018 ◽  
Vol 42 (2) ◽  
pp. 145-176 ◽  
Author(s):  
Mirella Damiani ◽  
Milica Uvalic
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Structural Change ◽  
General Trend ◽  
The European Union ◽  
Western Balkans ◽  
Distinctive Features ◽  
East European ◽  
The Past ◽  
Level Of Economic Development

This paper analyses structural change in the European Union (EU) over the past two decades, with the aim of providing some guidelines for the Western Balkan (WB) countries. After recalling the main theories of structural change, the paper illustrates the general trend of decline in the relative shares of manufacturing output and employment in the old and the new EU member states, pointing to distinctive features of the East European countries. It proceeds to show how structural change in the WB countries has had additional characteristics, specific to the region. The WB countries have experienced a process of extreme de-industrialization that has reduced the contribution of manufacturing too quickly, to levels which are not consistent with their relatively low level of economic development. What is necessary is a strategy of re-industrialization of the WB economies that would strengthen their export capacity and facilitate more robust economic growth.

STRATEGY OF LIBERALIZATION AND PROBLEMS OF STATE REGULATION OF AZERBAIJAN ECONOMY

2019 ◽  
Vol 86 (3) ◽  
pp. 139-151
Author(s):  
G. Z. Yuzbashieva ◽  
A. M. Mustafayev ◽  
R. A. Imanov
Keyword(s):  
Economic Growth ◽  
Social Protection ◽  
State Intervention ◽  
Economic Transformation ◽  
State Regulation ◽  
Economic Relations ◽  
The Public ◽  
Private And Public ◽  
Sectoral Development ◽  
Market Relations

The indicators that determine the change in the macroeconomic situation in the economy of Azerbaijan in 2010–2017, as well as the conditions for increasing the effectiveness of state intervention in solving economic problems are analyzed. It is noted that it is not the size of the public sector that becomes important, but its qualitative component (management and redistribution of resources and revenues, coordination of government intervention in economic relations). The main reasons limiting economic growth are identified, and the mechanisms for overcoming them are disclosed, since economic growth is of particular importance in the transformational period of state development. It substantiates the assertion that the forms and methods of state regulation should be the result of a reasonable combination of the private and public sectors of the economy to more effectively achieve the goal of economic development of the country and increase the welfare of the population. To this end, it is advisable to limit the actions of market forces and find a rational ratio of market and government measures that stimulate economic growth and development.It is shown that in the near future the development of the economy of Azerbaijan should be focused on the transition to the integration of various models of economic transformation; at the same time, “attraction of investments” should be carried out by methods of stimulating consumption, and the concept of a socially oriented economy, which the state also implements, should prevail, thereby ensuring social protection of the population and at the same time developing market relations. Disproportions in regional and sectoral development are also noted, which are the result of an ineffective distribution of goods produced, inadequate investment in human capital, a low level of coordination and stimulation of economic growth and development.

Impacts of Environmental Regulation on Sustainable Economic Growth

2018 ◽  
Vol 9 (9) ◽  
pp. 749-773
Author(s):  
Jonathan Fisher
Keyword(s):  
Economic Growth ◽  
Environmental Regulation ◽  
Technical Change ◽  
Best Practice ◽  
Environmental Regulations ◽  
The European Union ◽  
Porter Hypothesis ◽  
The United Kingdom ◽  
Environment Agency ◽  
Sustainable Economic Growth

There is considerable concern and debate about the economic impacts of environmental regulations. Jonathan Fisher, former Economics Manager at the Environment Agency in England and Wales, reviews the available evidence on this subject. Section 2 presents estimates of the costs and benefits of environmental regulations. Section 3 examines the impacts of environmental regulations on economic growth, innovation and technical change as well as impacts on competitiveness and any movement of businesses to less pollution havens. He questions call for greater certainty regarding future environmental regulations, whereas in fact there should be calls for less uncertainty. This section then suggests how this could be achieved. This section then finishes with an overview of the available evidence. This includes an examination of the Porter Hypothesis that environmental regulations can trigger greater innovation that may partially or more than fully offset the compliance costs. Section 4 then sets out principles for how better environmental regulation can improve its impacts on sustainable economic growth and illustrates how the European Union (EU) Water Framework Directive is a good example of the application of these principles in practice. Section 5 reviews current and recent political perspectives regarding developments in environmental regulations across the EU and shows how the United Kingdom (UK) has successfully positively managed to influence such developments so that EU environmental regulations now incorporate many of these principles to improve their impacts on economic growth. Section 5.1 then examines the implications of Brexit for UK environmental regulations. Finally, Section 6 sets out some best practice principles to improve the impacts of environmental regulation on sustainable economic growth, innovation and technical change.

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