18,815 research outputs found

    Economic Institutions and Economic Growth in the Former Soviet Union Economies

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    The aim of this paper is to assess the importance of economic institutions, measured by an index built from the E.B.R.D. (European Bank for Reconstruction and Development) indicators, for the pattern of economic growth. Though it focuses on a particular set of transition economies, it is also related to the literature on institutional development and economic growth. Indeed it draws on the literature on the economics of transition, looking at the breakdown of the U.S.S.R. as an extremely powerful “natural” experiment. From an empirical point of view, the study takes into consideration the period between 1991 and 2008 for fifteen countries, namely the Former Soviet Union economies, and is performed by means of a panel model. The first part of the econometric analysis sees our index as the only independent variable. A static model and a dynamic one are specified and different estimation techniques used. The second phase includes other covariates, among which the classical determinants of growth, to test whether the institutional environment, that is to say, the economic institutions index, maintains the magnitude and has a major impact on the pattern of economic growth.economic growth, economic institutions, economic policy, Former Soviet Union economies, static and dynamic models, panel analysis

    Worker Morale in Russia: An Exploratory Study

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    Despite unanimous agreement in the existing literature that morale influences employee performance, no well-defined measure of morale exists. Our study develops a robust measure of morale and focuses on the factors that influence morale among Russian workers. Survey data were collected from Russian employees at two different points in time, 1995 and 2002, in five Russian cities. Among the workers participating in our study, expectation of receiving a desired reward contributes to high morale, with expected monetary rewards having a larger influence than expected non-monetary rewards, but praise for a job well done and a feeling of accomplishment also contribute positively to employee morale. There is a significant correlation between positive attitudes toward work and morale, and a positive correlation between performance assessment and morale. Demographic characteristics (age and gender) have no discernable influence on morale when controls are included for work experience.http://deepblue.lib.umich.edu/bitstream/2027.42/57196/1/wp816 .pd

    The International Community and the CIS-7

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    The international community has sought to assist the development efforts of the CIS-7 countries since the collapse of the Soviet Union in the early 1990s. The international financial institutions have played a leading role in these efforts. Despite considerable engagement with the governments of these countries, overall progress has been disappointing. In this paper, we review the contribution of the international community to the transition challenge facing the CIS-7 countries and assess whether a change in strategy is warranted.CIS7, international financial institutions, policy reform, external debt

    The International Community and the CIS-7

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    The international community has sought to assist the development efforts of the CIS-7 countries since the collapse of the Soviet Union in the early 1990s. The international financial institutions have played a leading role in these efforts. Despite considerable engagement with the govenments of these countries, overall progress has been disappointing. In this paper, we review the contribution of the international community to the transition challenge facing the CIS-7 countries and assess whether a change in strategy is warrented.

    Worker Morale in Russia: An Exploratory Study

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    Despite unanimous agreement in the existing literature that morale influences employee performance, no well-defined measure of morale exists. Our study develops a robust measure of morale and focuses on the factors that influence morale among Russian workers. Survey data were collected from Russian employees at two different points in time, 1995 and 2002, in five Russian cities. Among the workers participating in our study, expectation of receiving a desired reward contributes to high morale, with expected monetary rewards having a larger influence than expected non-monetary rewards, but praise for a job well done and a feeling of accomplishment also contribute positively to employee morale. There is a significant correlation between positive attitudes toward work and morale, and a positive correlation between performance assessment and morale. Demographic characteristics (age and gender) have no discernable influence on morale when controls are included for work experience.Morale, Russia, Expected rewards, Motivation, Performance

    Composite Leading Indicators for Ukraine: An Early Warning Model

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    The project has undertaken the following tasks: Based on an analysis of the pattern of growth of the Ukrainian economy since the end of the post-Soviet recession (the year 2000) we have formulated the hypotheses concerning the factors preceding/affecting the upturns and downturns (with a focus on the latter) of the country’s growth; We have studied international “best practice” in early warning indicators in order to design a similar system for Ukraine; We have selected the relevant indicators, consistent with our hypotheses and used a probit model in order to experiment with these indicators; The final set of indicators used in the model included the following lagged independent variables: changes in the value of export, changes in real Exchange rate of the hryvnya, producers’ price index adjusted for domestic price inflation index and the IMF’s metal price index, bank credit interest rate, changes in the industrial output of the European Union; our dependent variable (which was used as a proxy for the overall economic growth) was changes in real industrial output; The model was used to formulate a warning forecast for the Ukrainian economy for the second half of 2008 based on the data for the January 2000 – June 2008 period; all predictions for the second half of 2008 have delivered warning about a downturn of the Ukrainian economy; We ran a few additional experiments with the model, and We have recommended several further steps of analysis toward a full implementation and institutionalization of such a model in the near future.business cycle, forecasting, econometric model, Ukraine, Ukrainian economy, economic growth, GDP, early warning indicator

    The Development Gap Between the CIS and EU

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    Current report aims to identify major existing gaps in the five socio-economic dimensions (economic, human, openness, environmental, and institutional) and to reveal those gaps which could potentially hinder social and economic integration of neighbor states with the EU. To achieve this, the authors aim to assess the existing trends in the size of the gaps across countries and problem areas, taking into consideration the specific origin of the gap between EU15/EU12, on the one hand, and FSU republics, EU candidates and West Balkan countries, on the other hand. The paper is structured as follows: 1. A review of literature on the determinants of growth and development and the analysis of the catching up process between countries or groups of countries. 2. An analysis of the historic roots and origins of the development gap, and its evolvement over time. 3. A review of literature sources, draft analysis of primary statistical data, and qualitative explanations of gaps and divergences in selected development issues across the following socio-economic dimensions: level of economic development and convergence rates based on Real GDP (application of methodology testing ß and ? convergence to the set of countries analyzed); • quality of life and its components (poverty, inequality, health status and health care, access to fresh water and sanitation facilities, subjective perceptions of well-being); • human capital and labor market development, including level of education and public spending on education, its accessibility and quality, main differences in labor market development (employment participation rates and levels of unemployment, new jobs creation and labor protection legislation); • innovation potential, including R&D, information and communication technologies, and institutional environment; • openness and trade potential, including trade in goods and services, FDI stocks, trade regime and performance in logistics and infrastructure; THE DEVELOPMENT GAP BETWEEN THE CIS AND EU 15 CASE Network Reports No. 81 • environmental performance in terms of environmental stresses, efforts aimed at their reduction, and institutional capacity; • business climate, political institutions, and other institutional indicators (econometric analysis). 4. A test econometric analysis of development gaps across selected dimensions by using a Principal Components Method (PCM). The results are further presented in the form of ranks of countries analyzed reflecting their distances from EU15 in respective aggregate averages. Special attention is paid to gender-related development issues. Respective issues in human capital and labor market study, as well as variables included into PCM analysis were supplemented with relative gender data. Several conclusions finalize the report.EU, CIS, development gap, GDP, convergence, quality of life, human capital, innovation, environment, institutions, Principal Components Method

    JTEC/WTEC annual report and program summary: 1993/94

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    The JTEC/WTEC (Japanese Technology Evaluation Center/World Technology Evaluation Center) Program at Loyola College is overviewed. A review of activities for 1993 and early 1994 is discussed along with plans for the following year. The bulk of the report consists of the summaries of completed projects in Information and Communication Technology; Materials; Manufacturing and Construction; Aeronautics, Space, and Ocean Technology; Energy; and Biotechnology
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