eprintid: 10155611
rev_number: 12
eprint_status: archive
userid: 699
dir: disk0/10/15/56/11
datestamp: 2023-09-11 16:56:16
lastmod: 2023-09-11 16:56:16
status_changed: 2023-09-11 16:56:16
type: report
metadata_visibility: show
sword_depositor: 699
creators_name: Alachnovič, Aleś
creators_name: Korosteleva, Julia
title: Stolen Decades: The unfulfilled expectations of the Belarusian economic miracle.
ispublished: pub
divisions: UCL
divisions: D92
divisions: B03
keywords: Belarusian economic model, political crisis, economic reforms
note: This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions.
abstract: The case of the Belarusian economy has puzzled many academic scholars for years. Belarus has often been referred to as a transition outlier, given its relatively fast recovery in 1996 and spectacular growth prior to the global financial crisis without much transformation of its economy.
Three decades after gaining its independence, the state control of the economy still remains considerably high. Subsidized financing of state-owned enterprises allowed to preserve production capabilities over the first decade, achieve some productivity gains in the late 1990s–early
2000s, and to avoid social destabilization. However, with a delay in structural reforms, this economic model, also heavily dependent on the Russian subsidies and foreign debt, has become fatigue, driving the economy into stagnation in the 2010s. The Covid-19 pandemic, the 2020
post-presidential political crisis and Russia’s war in Ukraine in 2022 put further strains on the economy, calling for change. This working paper will give an overview of the Belarusian economic developments before the presidential elections to have a better understanding of how various rigidities of the Belarusian economic model have amplified the detrimental effect of the political unrest for the economy and the Belarusian society overall, and will discuss the anticrisis and mid-term economic reforms Belarus will have to undergo.
date: 2022-05-24
date_type: published
publisher: CASE-Centre for Social and Economic Research
official_url: https://www.case-research.eu/en/stolen-decades-the-unfulfilled-expectations-of-the-belarusian-economic-miracle-102087
full_text_type: pub
language: eng
verified: verified_manual
elements_id: 1976497
isbn_13: 978-83-7178-733-1
lyricists_name: Korosteleva, Julia
lyricists_id: JAKOR86
actors_name: Korosteleva, Julia
actors_id: JAKOR86
actors_role: owner
full_text_status: restricted
series: CASE Network Report No. 17(141)/2022
place_of_pub: Warsaw, Poland
pages: 37
citation:        Alachnovič, Aleś;  Korosteleva, Julia;         (2022)    Stolen Decades: The unfulfilled expectations of the Belarusian economic miracle.                    (CASE Network Report No. 17(141)/2022   ). CASE-Centre for Social and Economic Research: Warsaw, Poland.      
 
document_url: https://discovery.ucl.ac.uk/id/eprint/10155611/1/Stolen%20decades_manuscriptCASEWP.pdf