FREE Policy Brief

Financing for Development: Two Years after Addis

Anders Olofsgård, SITE

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“New Goods” Trade in the Baltics

Julián P. Díaz, Quinlan School of Business
Sang-Wook (Stanley) Cho, University of New South Wales

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Independent Media and Contemporary Military Doctrines

Ekaterina Zhuravskaya, Paris School of Economics

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Cross-Country Differences in Convergence in CESEE

By Bas B. Bakker, IMF
Krzysztof Krogulski, IMF

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Monetary Policy Puzzle in the Presence of a Negative TFP Shock and Unstable Expectations

Dzmitry Kruk, BEROC

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The Economics of Russian Import Substitution

This policy brief discusses the economic mechanisms triggered by import substitution policies, associated losses and conditions that ensure positive economic effects. Numerical estimations of potential effects of Russian import substitution policies indicate a decline in GDP, decrease in output of unprotected sectors and consumers’ welfare...
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Does Product Market Competition Cause Capital Constraints?

At the very center of Schumpeter’s (1934, 1942) notion of creative destruction is firms’ access to bank capital, which helps to fund the innovation in competitive product markets that drives out less productive firms in favor of those with more profitable ideas. However, competition is...
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What Does Ukraine’s Orange Revolution Tell Us About the Impact of Political Turnover on Economic Performance?

Political turnover is a normal, even desirable, feature of competitive politics, yet turnover in a context of weak institutions can create policy uncertainty, disrupt political connections, and threaten the security of property rights.   What is the impact of political turnover on economic performance in such...
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