Belarus : Window of Opportunity to Enhance Competitiveness and Sustain Economic Growth, A Country Economic Memorandum (CEM) for the Republic of Belarus, Volume 1, Main Report
This Country Economic Memorandum (CEM) for the Republic of Belarus takes stock of the growth trends in the country's economy since 1996, reviews the evidence of the accumulated challenges and risks within the existing growth patterns, and provides recommendations aimed at strengthening growth s...
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| Format: | Country Economic Memorandum |
| Language: | English en_US |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/11/6462900/belarus-window-opportunity-enhance-competitiveness-sustain-economic-growth-country-economic-memorandum-cem-republic-belarus-vol-1-2-main-report http://hdl.handle.net/10986/8353 |
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okr-10986-8353 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTION AGRICULTURE ANNUAL GROWTH AVERAGE ANNUAL GROWTH BANKRUPTCY BUDGET DEFICITS BUDGETARY SUPPORT CAPITAL INVESTMENTS COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPETITIVE ADVANTAGE COMPETITIVE ADVANTAGES COMPETITIVENESS COMPLEMENTARITY CONSUMER PRICES DATA QUALITY DEBT DEVELOPMENT INDICATORS DOMESTIC CREDIT DOMESTIC SAVINGS DUMPING ECONOMIC ACTIVITIES ECONOMIC COOPERATION ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC INCENTIVES ECONOMIC MANAGEMENT EXCHANGE RATE EXPORT MARKET EXPORT MARKETS EXPORT PROMOTION EXPORTS FOREIGN CURRENCY GDP GDP PER CAPITA GROWTH MODELS GROWTH PERFORMANCE GROWTH RATES HEADCOUNT RATIO INCOME INDUSTRIAL DEVELOPMENT INFLATION INFLATION TAX INTEREST RATES INVENTORIES LABOR MARKET MACROECONOMIC CONDITIONS MACROECONOMIC FRAMEWORK MACROECONOMIC PERFORMANCE MACROECONOMIC POLICIES MARKET TRENDS MERCHANDISE MERCHANDISE EXPORTS MERCHANDISE IMPORTS MERCHANDISE TRADE NATIONAL ACCOUNTS NATIONAL OUTPUT OUTPUT GROWTH OWNERSHIP STRUCTURE POVERTY REDUCTION PRICE LEVELS PRICE REGULATION PRODUCER PRICE PRODUCER PRICE INDEX PRODUCER PRICES PRODUCTIVITY GROWTH PROFIT MARGIN PROPERTY RIGHTS PUBLIC EXPENDITURE PURCHASING PURCHASING POWER PURCHASING POWER PARITY REAL EXCHANGE RATES REAL WAGES REGULATORY REGIMES RETAIL RETAIL PRICES RETAIL TRADE SALES SOCIAL PROTECTION SOFT BUDGET CONSTRAINTS STRUCTURAL CHANGE SUPPLIERS TARIFF BARRIERS TAXATION TECHNICAL ASSISTANCE TFP TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE BALANCE TRANSITION ECONOMIES UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGES WTO |
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AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTION AGRICULTURE ANNUAL GROWTH AVERAGE ANNUAL GROWTH BANKRUPTCY BUDGET DEFICITS BUDGETARY SUPPORT CAPITAL INVESTMENTS COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPETITIVE ADVANTAGE COMPETITIVE ADVANTAGES COMPETITIVENESS COMPLEMENTARITY CONSUMER PRICES DATA QUALITY DEBT DEVELOPMENT INDICATORS DOMESTIC CREDIT DOMESTIC SAVINGS DUMPING ECONOMIC ACTIVITIES ECONOMIC COOPERATION ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC INCENTIVES ECONOMIC MANAGEMENT EXCHANGE RATE EXPORT MARKET EXPORT MARKETS EXPORT PROMOTION EXPORTS FOREIGN CURRENCY GDP GDP PER CAPITA GROWTH MODELS GROWTH PERFORMANCE GROWTH RATES HEADCOUNT RATIO INCOME INDUSTRIAL DEVELOPMENT INFLATION INFLATION TAX INTEREST RATES INVENTORIES LABOR MARKET MACROECONOMIC CONDITIONS MACROECONOMIC FRAMEWORK MACROECONOMIC PERFORMANCE MACROECONOMIC POLICIES MARKET TRENDS MERCHANDISE MERCHANDISE EXPORTS MERCHANDISE IMPORTS MERCHANDISE TRADE NATIONAL ACCOUNTS NATIONAL OUTPUT OUTPUT GROWTH OWNERSHIP STRUCTURE POVERTY REDUCTION PRICE LEVELS PRICE REGULATION PRODUCER PRICE PRODUCER PRICE INDEX PRODUCER PRICES PRODUCTIVITY GROWTH PROFIT MARGIN PROPERTY RIGHTS PUBLIC EXPENDITURE PURCHASING PURCHASING POWER PURCHASING POWER PARITY REAL EXCHANGE RATES REAL WAGES REGULATORY REGIMES RETAIL RETAIL PRICES RETAIL TRADE SALES SOCIAL PROTECTION SOFT BUDGET CONSTRAINTS STRUCTURAL CHANGE SUPPLIERS TARIFF BARRIERS TAXATION TECHNICAL ASSISTANCE TFP TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE BALANCE TRANSITION ECONOMIES UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGES WTO World Bank Belarus : Window of Opportunity to Enhance Competitiveness and Sustain Economic Growth, A Country Economic Memorandum (CEM) for the Republic of Belarus, Volume 1, Main Report |
| geographic_facet |
Europe and Central Asia Europe Commonwealth of Independent States Eastern Europe Belarus |
| description |
This Country Economic Memorandum (CEM) for the Republic of Belarus takes stock of the growth trends in the country's economy since 1996, reviews the evidence of the accumulated challenges and risks within the existing growth patterns, and provides recommendations aimed at strengthening growth sustainability. In sum, while economic growth in the last nine years has been impressive, the report argues that maintaining the current growth strategy would lead to a gradual erosion of economic competitiveness. The government should make significant policy adjustments by reorienting its policies toward ensuring a better business environment, and a smaller sized government. Current international and domestic environment are favorable for supporting a policy shift toward the acceleration of structural reforms. At the moment, the government is well equipped to mitigate the potential costs of these reforms, because the policy settings are largely determined by the growing economy, the positive trends in both the enterprise and the household sectors, favorable developments in the global economy, low debt, and the strong administrative capacity of the state. This situation could change: various pressures might become stronger, and then these same reforms would become politically more costly, and fiscally more risky. In short, the current window of opportunity should be used to ensure that the authorities' growth and poverty objectives are sustainable in the medium to long terms. The analysis in this report has documented a significant and broad-based growth, while pointing to the erosion of several important factors that have driven this growth recently. The Belarusian economy is facing a considerable risk of declining competitiveness. To sustain growth, a significant policy adjustment is necessary to enhance market discipline, and encourage new business entry. |
| format |
Economic & Sector Work :: Country Economic Memorandum |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Belarus : Window of Opportunity to Enhance Competitiveness and Sustain Economic Growth, A Country Economic Memorandum (CEM) for the Republic of Belarus, Volume 1, Main Report |
| title_short |
Belarus : Window of Opportunity to Enhance Competitiveness and Sustain Economic Growth, A Country Economic Memorandum (CEM) for the Republic of Belarus, Volume 1, Main Report |
| title_full |
Belarus : Window of Opportunity to Enhance Competitiveness and Sustain Economic Growth, A Country Economic Memorandum (CEM) for the Republic of Belarus, Volume 1, Main Report |
| title_fullStr |
Belarus : Window of Opportunity to Enhance Competitiveness and Sustain Economic Growth, A Country Economic Memorandum (CEM) for the Republic of Belarus, Volume 1, Main Report |
| title_full_unstemmed |
Belarus : Window of Opportunity to Enhance Competitiveness and Sustain Economic Growth, A Country Economic Memorandum (CEM) for the Republic of Belarus, Volume 1, Main Report |
| title_sort |
belarus : window of opportunity to enhance competitiveness and sustain economic growth, a country economic memorandum (cem) for the republic of belarus, volume 1, main report |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/11/6462900/belarus-window-opportunity-enhance-competitiveness-sustain-economic-growth-country-economic-memorandum-cem-republic-belarus-vol-1-2-main-report http://hdl.handle.net/10986/8353 |
| _version_ |
1764405302171533312 |
| spelling |
okr-10986-83532021-04-23T14:02:39Z Belarus : Window of Opportunity to Enhance Competitiveness and Sustain Economic Growth, A Country Economic Memorandum (CEM) for the Republic of Belarus, Volume 1, Main Report World Bank AGRICULTURAL OUTPUT AGRICULTURAL PRODUCTION AGRICULTURE ANNUAL GROWTH AVERAGE ANNUAL GROWTH BANKRUPTCY BUDGET DEFICITS BUDGETARY SUPPORT CAPITAL INVESTMENTS COMPARATIVE ADVANTAGE COMPARATIVE ADVANTAGES COMPETITIVE ADVANTAGE COMPETITIVE ADVANTAGES COMPETITIVENESS COMPLEMENTARITY CONSUMER PRICES DATA QUALITY DEBT DEVELOPMENT INDICATORS DOMESTIC CREDIT DOMESTIC SAVINGS DUMPING ECONOMIC ACTIVITIES ECONOMIC COOPERATION ECONOMIC EXPANSION ECONOMIC GROWTH ECONOMIC INCENTIVES ECONOMIC MANAGEMENT EXCHANGE RATE EXPORT MARKET EXPORT MARKETS EXPORT PROMOTION EXPORTS FOREIGN CURRENCY GDP GDP PER CAPITA GROWTH MODELS GROWTH PERFORMANCE GROWTH RATES HEADCOUNT RATIO INCOME INDUSTRIAL DEVELOPMENT INFLATION INFLATION TAX INTEREST RATES INVENTORIES LABOR MARKET MACROECONOMIC CONDITIONS MACROECONOMIC FRAMEWORK MACROECONOMIC PERFORMANCE MACROECONOMIC POLICIES MARKET TRENDS MERCHANDISE MERCHANDISE EXPORTS MERCHANDISE IMPORTS MERCHANDISE TRADE NATIONAL ACCOUNTS NATIONAL OUTPUT OUTPUT GROWTH OWNERSHIP STRUCTURE POVERTY REDUCTION PRICE LEVELS PRICE REGULATION PRODUCER PRICE PRODUCER PRICE INDEX PRODUCER PRICES PRODUCTIVITY GROWTH PROFIT MARGIN PROPERTY RIGHTS PUBLIC EXPENDITURE PURCHASING PURCHASING POWER PURCHASING POWER PARITY REAL EXCHANGE RATES REAL WAGES REGULATORY REGIMES RETAIL RETAIL PRICES RETAIL TRADE SALES SOCIAL PROTECTION SOFT BUDGET CONSTRAINTS STRUCTURAL CHANGE SUPPLIERS TARIFF BARRIERS TAXATION TECHNICAL ASSISTANCE TFP TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE BALANCE TRANSITION ECONOMIES UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGES WTO This Country Economic Memorandum (CEM) for the Republic of Belarus takes stock of the growth trends in the country's economy since 1996, reviews the evidence of the accumulated challenges and risks within the existing growth patterns, and provides recommendations aimed at strengthening growth sustainability. In sum, while economic growth in the last nine years has been impressive, the report argues that maintaining the current growth strategy would lead to a gradual erosion of economic competitiveness. The government should make significant policy adjustments by reorienting its policies toward ensuring a better business environment, and a smaller sized government. Current international and domestic environment are favorable for supporting a policy shift toward the acceleration of structural reforms. At the moment, the government is well equipped to mitigate the potential costs of these reforms, because the policy settings are largely determined by the growing economy, the positive trends in both the enterprise and the household sectors, favorable developments in the global economy, low debt, and the strong administrative capacity of the state. This situation could change: various pressures might become stronger, and then these same reforms would become politically more costly, and fiscally more risky. In short, the current window of opportunity should be used to ensure that the authorities' growth and poverty objectives are sustainable in the medium to long terms. The analysis in this report has documented a significant and broad-based growth, while pointing to the erosion of several important factors that have driven this growth recently. The Belarusian economy is facing a considerable risk of declining competitiveness. To sustain growth, a significant policy adjustment is necessary to enhance market discipline, and encourage new business entry. 2012-06-18T20:35:34Z 2012-06-18T20:35:34Z 2005-11 http://documents.worldbank.org/curated/en/2005/11/6462900/belarus-window-opportunity-enhance-competitiveness-sustain-economic-growth-country-economic-memorandum-cem-republic-belarus-vol-1-2-main-report http://hdl.handle.net/10986/8353 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Country Economic Memorandum Economic & Sector Work Europe and Central Asia Europe Commonwealth of Independent States Eastern Europe Belarus |