Belarusian Economic Research and Outreach Center

Research

One of the main BEROC goals is generating and spreading of new academic and policy knowledge on problems, tendencies and development of Belarusian economy. Academic and policy research aimed at the development of strategy encouraging economic growth and quality improvement of economic policy in Belarus.

Foreign Investments: Focusing On Debt

In 2013 inflows of foreign investments in Belarus remained almost negligible. The official attitude to privatization remained unchanged, which is why there were almost no privatization deals in Belarus in 2013. This makes foreign loans the main source of inflow of foreign capital to the country.

Belarusian Economy in 2013: An Attempt to Reload Old Growth Model

This study deals with Belarusian macroeconomic dynamics in 2013.

FREE Policy Brief: Liquidity and Monetary Policy in Belarus

 Igor LivshitsJames MacGee, Michele Tertilt

The Democratization of Credit and the Rise in Consumer Bankruptcies

Financial innovations are a common explanation for the rise in credit card debt and bankruptcies. To evaluate this story, the authors develop a simple model that incorporates two key frictions: asymmetric information about borrowers’ risk of default and a fixed cost of developing each contract lenders offer.

FREE Policy Brief: Macroeconomic Performance and Preferences for Democracy

Belarusian Economic Growth Decomposition

Belarus experienced rapid economic growth in the 2000's, which abruptly came to halt after 2008. The authors found that the major source of growth was capital accumulation, while growth in total factor productivity (TFP) was modest. Moreover, government interventions and controls on the capital market contributed to misallocation which lowered aggregate productivity. Lack of productivity growth led to the loss of competitiveness on the international markets. Comparisons of TFP in Belarus with the Czech Republic and Sweden shows that comparative advantages of Belarus are concentrated in the natural-resource based industries, and TFP gap with the Czech Republic is not closing over time.

Screening as a Unified Theory of Delinquency, Renegotiation, and Bankruptcy

The authors propose a parsimonious model with adverse selection where delinquency, renegotiation, and bankruptcy all occur in equilibrium as a result of a simple screening mechanism.

FREE Policy Brief: Integration Formations in the Monetary Sphere: the Possibility and the Necessity for Monetary Integration in the Post-Soviet Region

FREE Policy Brief: Decomposition of Economic Growth in Belarus

FREE Policy Brief: Can Anti-Smoking Campaigns Increase Obesity? Evidence from Belarus

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