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Belarus - Industrial performance before and during the global crisis (Vol. 2) : Belarus economic policy notes : note no. 2 (Russo)

This note attempts to analyze and tentatively answer these questions by focusing on the drivers of growth and productivity, labor markets and enterprise restructuring, as well as the state system of enterprise support, which is key to understanding the interplay between the state and the economy in Belarus. The period of analysis covers 2004-08 with appropriate references to the previous periods and comparisons with Russia and/or other Commonwealth of Independent States (CIS) countries. The final section explores the Belarus's industrial performance in the period of the global crisis (late 2008-09) and reviews the government's policies that have been largely responsible for a relatively mild effect of the crisis on economic dynamics in the country. The analysis is based on the official statistics provided to the team by the National Statistics Committee (Belstat), National Bank, and various ministries, as well as statistics from other national and international statistical sources. In addition, the analysis benefited from the data provided by various enterprise surveys undertaken by the Research Institute by the Ministry of Economy (RIME) and from two sector case studies (in machinery and dairy sub-sectors). Belarus has weathered the crisis so far better than most of its neighbors, in part due to the government policies to boost domestic demand in a predominantly state-owned and controlled economy. This was achieved at a considerable macroeconomic cost. The country's ability to sustain possible future shocks declined, and macroeconomic risks increased. The crisis has further exposed risks associated with the Government of Belarus (GOB) practice of heavy reliance on administratively set targets for large and medium-size enterprises, especially targets for output and average wage growth.


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    Memorando Econômico do País

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    Europa e Ásia Central,

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    Belarus economic policy notes : note no. 2

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    economies of scale and scope;comparative advantage;small and medium enterprise;macroeconomic stability and growth;improvement in investment climate;wood forest product;availability of bank credit;oil and gas reserve;price of import oil;access to external finance;intellectual property right regime;export basket;export of goods;manufacture of pulp;terms of trade;capital intensive goods;share of export;machinery and equipment;structure of production;strategic value;production and export;world market price;domestic policy reform;cost of entry;transfer of knowledge;system education;intellectual property rights;elimination of subsidy;privatization of sectors;share of resource;average price level;metal product manufacturing;oil product price;growth in trade;cost of energy;exchange rate policy;Exchange rate policies;thick forest;impact of trade;emerging market trade;private sector actors;purchasing power parity;pattern of trade;cost of import;foreign exchange inflow;areas of trade;foreign direct investment;growth of trade;soft budget constraint;export growth rate;current account deficit;current account balance;barriers to growth;labor intensive industry;preferential market access;Type of Investment;consumer goods imports;government support program;fats and oil;foreign market access;role of state;intergovernmental trade agreement;transport of good;agricultural and food;global economic crisis;real import growth;investment promotion activity;absence of custom;level of employment;share of investment;volume of trade;export concentration;price factor;trade performance;export market;mineral product;ferrous metal;export income;export product;resource base;export expansion;manufacturing export;open economy;industrial enterprise;external shock;Export Diversification;manufacturing sector;global export;food product;standard deviation;increased export;toilet preparation;plastic products;industrial sector;plastic material;synthetic resin;raw material;industrial machinery;large enterprise;domestic sale;dairy product;assembly line;business environment;investment good;domestic demand;profit margin;export price;individual company;global integration;cross-border partnership;subsequent growth;dynamic change;supply chain;primary goods;International Trade;high-tech product;destination principle;increase productivity;commodity group;trade partner;global network;technological content;bilateral trade;glass manufacture;market diversification;survey data;business partner;processed food;global demand;exported products;market opportunity;business service;food processing;industrial upgrading;product market;productivity gain;productivity growth;technological adaptation;financial constraint;business risk;destination market;comparator country;national share;economic liberalization;product quality;factor market;global trade;dairy sector;regional market;primary product;competitive position;commodity composition;Technology Transfer;industrial structure;long-term growth;manufacturing good;household consumption;productivity level;weighted average;Business Climate;export activity;real gdp;world price;export proceeds;industrial exports;food export;global process;global economy;global view;relative price;export revenue;merchandise trade;global market;soft infrastructure;domestic policies;sector analysis;export opportunity;export opportunities;income growth;state procurement;petroleum product;product variety;agricultural machinery;price dynamic;customs policy;tax policy;traditional market;commodity structure;market segment;state control;export share;market concentration;export performance;staff qualification;cost advantage;consumer import;Natural Resources;administrative control;milk procurement;retail price;high share;milk processor;import side;export profits;increase growth;trade growth;russian ruble;baking powder;existing capacity;production target;export data;food industry;high probability;industry code;sale price;market factor;production quality;heavily dependent



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