Belarusian Economic Research and Outreach Center

Policy Papers

Barriers and drivers of women's entrepreneurship in Belarus

We have conducted the number of interviews with female entrepreneurs and top managers of Belarusian companies.

Foreign Investment: Measures to Improve the Investment Climate

In 2016, potential investors’ interest in Belarus continued to decline. The problem of access to financing in the form of loans was growing, affecting the possibility of floating sovereign Eurobonds internationally. There were signs that the government finally realized that the country needed a better image to foster investment and issued a number of bills to facilitate raising funds.

Anatomy of Belarusian JSCs

We do not know about: how effective are Belarusian enterprises, what is the share of state enterprises in the economy, what is the difference between private and state enterprises, what is the distribution of labor, capital and materials among firms. This work is an attempt to answer these questions using the data on JSCs.

Causes and Features of Economic Downturn in Belarus: the Role of Structural Factors

This work is devoted to the analysis of output downturn in Belarus in 2015. It is shown that economic downturn is not the consequence of only cyclical hesitations, but also of structural compression. Moreover, the structural component of recession in 2016 began to dominate.

Restructuring of Belarusian SOEs

This work suggests steps for reforming of Belarusian SOEs in order to find new sources of growth. Major mechanisms of efficiency increase are introduction and improvement of corporate governance, privatization/ attraction of investors, and bankrupcy and liquidation.

Foreign Investment: Only Borrowings Remain

Tendencies of 2015 have nothing different from previous years. Low demand for state assets and the lack of flexibility and interest in speeding up of privatization continue to be the major factors of zero dynamics in the realization of state assets. External borrowing remains the major source of investment inflow which is used for refinancing of current debts and, as a result, only increases total debt and does not lead to reforming and the growth of efficiency in the economy.

World Experience of Privatization of SOEs

Under conditions of increased dynamics in world and domestic markets the necessity for shaping of competitive and effective economy increases. Under these circumstances reforming of SOEs becomes one of the most urgent problems. This work is devoted to the analysis of international experience of the privatization of SOEs.

Privatization and Other Reforms of SOEs

This paper surveys implementation mechanisms and effects of privatization, the reform of corporate governance of SOEs, and the reform of bankruptcy procedure.

National Specifics and International Experience in Foreign Direct Investment Attraction

The uncontrolled inflow of foreign investment in the country can have both positive and negative effects. In this regard, national governments develop and implement measures to attract foreign capital, taking into account the characteristics and interests of a particular state. With a view to better understanding the logic of the FDIs movement, the paper gives a brief description of the FDIs dynamics in the Republic of Belarus, as well as the study of the international experience based on the analysis of the FDIs attraction policies of the Visegrad Group countries (Hungary, Czech Republic, Poland) and Georgia.

Modern Tax System Transformations

Building an optimal tax system is a strategic objective for any state. Under the conditions of the economy openness, both internal and external factors can have a significant impact on the pace of economic development of a country that affects the level of tax collection. The article both emphasizes the importance of tax system improvement and explains the necessity of tax administration optimization. A tax system approximated to optimal one will be less affected by the negative trends and modern tax administration will reduce costs, increase transparency and the taxpayers’ trust level. The tax system analysis was carried out based on studying the Visegrad Group countries’ experience (the Czech Republic and Poland), as well as Georgia and Belarus. As a result, it was observed a single direction of all countries’ development in the area of the tax system improvement, while the presence of the individual characteristics.

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