From a short-term perspective and ‘local’ view, this does not seem to change the environment considerably. According to such view, given the commitment of the authorities to monetary and financial stability (since 2015 it seems to be rather firm) the decay of the ‘recovery growth mark-up’ does not mean anything except weaker growth of incomes. However, from a longer-term perspective and a ‘big picture’ view, one can detect such kind of threats.
Policy papers - applied research on economics that is practically oriented to form a strategy for promoting economic growth and improving the quality of economic policy in Belarus.
31.10.2019Belarus tends to face a ‘systemic fragility’
Aleh Mazol| 26.03.2019Development of the P2P Lending Market: Peculiarities of Functioning and International Experience of Development
The paper is devoted to the P2P lending companies’ activities. The paper gives the definition of crowdlending (P2P lending), describes specific features of this activity and presents its main advantages and disadvantages. The research defines the types of P2P lending and describes the main models of the crowdlending online platforms’ functioning.
Nadezhda Batova|Pyotr Sachek|Irina Tochitskaya| 20.12.2018On the Way to Green Growth: Window Opportunities of Circular Economy
The paper deals with opportunities of circular economy for ensuring green growth. Analysis and comparison of concepts of sustainable development, green and circular economy revealed that despite similarity there is a differences in ways of their implementation. It is shown that the green economy is one of a tool for achieving sustainable development, and the circular economy acts as a practical way of putting it into effect. The concept of circular economy is interlinked with various scientific schools of environmental economic system, each of which can be considered as directions of its development.
Aleh Mazol| 09.03.2018Institutions and economic development
The quality of institutions is a major factor in the success or failure of nations and a fundamental source of differences in per capita income between countries. This work is devoted to the analysis of the definition of institutions and studies their impact on the economic development of developed and developing countries. The state of institutional development in Belarus for 1996-2015 is assessed, and the directions of further development of institutions based on the experience of other countries are considered.
Aleh Mazol| 09.01.2018Estimation of the number of employable population unemployed in the economy and regional economic development of Belarus in 2007-2015
This study estimates the number of the working-age population, unemployed in the economy, in the Belarusian regions for 2007-2015 covered by the Decree of the President of the Republic of Belarus from 2 April 2015 №3 "On the prevention of social dependency". The paper analyzes the relationship between the number of this group of population and regional economic development of Belarus. The results show that the presence of the working-age population, unemployed in the economy, is mostly an economic phenomenon related to the level of economic development of a certain region, district or city of Belarus.
Dzmitry Kruk| 09.01.2018Perspective and Challenges for Belarus’ Economy in the Medium-Run (2018-2020)
This policy paper deals with the perspectives of the national economy development in 2018-2020. The study emphasizes that fluctuations around equilibrium growth rate is the most likely scenario. The study uses the estimate of 2.5% of equilibrium growth rate for Belarus, which is a compromise among different approaches and methodologies. The scenario of higher growth may become possible due to positive external shocks. However, even in case of permanently strengthening external environment, the growth rate of the national economy is still likely to be unsustainable.