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V. The return of history.
In the void left by the collapse of the Soviet Union, the Commonwealth of Independent States (CIS) was created as a structure that would coordinate the foreign and security policies of member states, develop a common economic space, and provide for an orderly transition from the Soviet Union to the
Fifteen years ago, twenty-seven countries in Europe and Central Asia embarked on their economic transition paths. For some, the outcome was a considerable success. Several others are still struggling to shed the inheritance of the past and to correct more recent policy mistakes. Why were post-Communist recessions so long in some countries and growth disappointing? Why was fiscal performance so different? Was democracy a factor, which facilitated reforms or rather slowed them down? This book discusses these questions in the context of new empirical evidence, including a critical examination of the main themes in the economics of transition literature.
Protecting the Ozone Layer: Lessons, Models, and Prospects Since the mid-1980s, the international community has adopted several significant instruments designed to reverse the degradation of the life support systems of the planet. None of these international agreements have been as successful as the 1987 Montreal Protocol in creating the incentives and mechanisms for protecting the ozone layer. Through the efforts of industry, government and public interest groups, national commitments and achievements have progressed further and faster than expected, while the list of controlled chemicals has expanded. Now in its second decade, the Protocol enters a crucial phase of its implementation. Protecting the Ozone Layer: Lessons, Models, and Prospects presents a wealth of information about the scientific, legal-political, and technological hurdles that we will have to overcome if humanity is to reverse its self-destructive course. The technology section in particular should appeal to industries affected by ozone layer protection as well as those affected by climate protection, since this is the first ozone publication featuring insights by the companies that spearheaded the major technological breakthroughs. Every initiative to improve the environmental performance of industry has been accompanied by pronouncements of economic devastation, from acid rain to auto emissions standards, from auto mileage improvements to the protection of the ozone layer. Each new initiative brought claims from industry that this situation was different, yet none of their predictions have come true. At a time when industry fights efforts to protect the environment, the ozone experience shows both how technical breakthroughs have enabled environmental protection policies to work in the past and how they will work again in the future. Protecting the Ozone Layer: Lessons, Models, and Prospects is the product of a Colloquium that was organized in September 1997 to celebrate the tenth anniversary of the Montreal Protocol. Contributions have been gathered from researchers and practitioners in the field, including some of the very same scientists whose work awakened the international community to the seriousness of the danger that humanity now faces. Other contributors include the scholars and diplomats who wrote and negotiated the text of the Protocol and its amendments, and the key figures who have been influential in convincing industry to support the process.
World Bank Technical Paper No. 394. Joint Forest Management (JFM) has emerged as an important intervention in the management of Indias forest resources. This report sets out an analytical method for examining the costs and benefits of JFM arrangements. Two pilot case studies in which the method was used demonstrate interesting outcomes regarding incentives for various groups to participate. The main objective of this study is to develop a better understanding of the incentives for communities to participate in JFM.
This report focuses upon aspects of energy production, consumption and efficiency within the transition economies of the countries in central eastern Europe and the Baltic states, south-eastern Europe and the Commonwealth of Independent States. The report is divided into two sections. Part I considers issues of macroeconomic performance and future prospects for growth. Part II contains an analysis of the primary and secondary energy sectors in these countries. The report highlights the challenges facing the energy-rich countries in managing their resources prudently. It discusses key policy issues, such as the need to strengthen governance and transparency in the energy sector, and to increase savings to preserve national wealth for future generations. It also looks at tariff reform as a means of improving energy efficiency, and examines ways of ensuring that the poor do not suffer as a result of tariff adjustments. It highlights the complementary role that private investment in the power sector can play in improving energy efficiency, if accompanied by a strong regulatory framework. The report also contains an assessment of the progress towards transition made by each country, on a range of areas including liberalisation and macroeconomic stabilisation.
Russia is now once again one of the ten largest economies in the world (representing around 70% of Germany's GDP in purchasing power parity in 2007). In addition, Russia is the third largest trading partner of the EU, the fourth largest trade partner of the eurozone and an essential energy supplier to the EU. This recovery makes Russia an economic - and political - actor that cannot be ignored. In this authoritative new book, Lúcio Vinhas de Souza, desk officer for Russia in the Directorate-General for Economic and Financial Affairs of the European Commission, reviews the country's evolving macroeconomic performance and structural policy framework, from the difficult days of the recession in the early transition period and the 1998 crisis to Russia's sustained and robust growth since 1999. He outlines the remaining reform priorities in Russia and concludes with pragmatic policy recommendations for the reform agenda.
How do the former Soviet republics that now constitute the Commonwealth of Independent States (CIS) interact with each other and with other regional and world powers? What are the conceptual foundations, mechanisms, and main directions of each member state's foreign policy? What role do economic and political factors play? Answering these questions and more in this systematic, comprehensive survey, a team of in-country experts sheds important light on the complex regional and international interactions of the CIS states in the twenty-first century.
The past 25 years have seen a dramatic transformation in Europe’s former communist countries, resulting in their reintegration with the global economy, and, in most cases, major improvements in living standards. But the task of building full market economies has been difficult and protracted. Liberalization of trade and prices came quickly, but institutional reforms—such as governance reform, competition policy, privatization and enterprise restructuring—often faced opposition from vested interests. The results of the first years of transition were uneven. All countries suffered high inflation and major recessions as prices were freed and old economic linkages broke down. But the scale of output losses and the time taken for growth to return and inflation to be brought under control varied widely. Initial conditions and external factors played a role, but policies were critical too. Countries that undertook more front-loaded and bold reforms were rewarded with faster recovery and income convergence. Others were more vulnerable to the crises that swept the region in the wake of the 1997 Asia crisis.