Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1
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...
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| Format: | Country Economic Memorandum |
| Language: | English |
| Published: |
World Bank
2012
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| Subjects: | |
| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20100928232055 http://hdl.handle.net/10986/2906 |
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okr-10986-2906 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO CREDIT ACCESS TO FINANCE ACCOUNTABILITY ADMINISTRATIVE BARRIERS AGRICULTURE ALLOCATION MECHANISMS ARREARS ATTRITION AUTONOMY AVAILABILITY OF CREDIT AVERAGE PRODUCTIVITY BALANCE OF PAYMENTS BANK CREDIT BANK CREDITS BANK LOANS BANK RECAPITALIZATION BANKING SYSTEM BANKRUPTCY BUDGET CONSTRAINTS BUSINESS DEVELOPMENT BUSINESS ENTRY BUSINESS PLANS CAPITAL STOCK CENTRAL BANKS CENTRALIZATION COMMERCIAL BANKING COMMERCIAL BANKS COMPARATIVE ADVANTAGE COMPETITIVE ADVANTAGES COMPETITIVENESS CONSOLIDATION CONSUMER PRICE INDEX CONSUMER SUBSIDIES CONSUMERS CORRUPTION COST OF CREDIT CPI CREDIT ALLOCATION CREDIT ALLOCATIONS CREDIT AVAILABILITY CREDIT DECISIONS CREDIT GUARANTEES CREDIT LINES CREDIT MARKETS CREDIT POLICY CREDIT PROGRAMS CREDITS CUSTOMER DEMAND DEVELOPMENT POLICY DIRECT CREDIT DIRECTED CREDIT DIRECTED CREDITS DRIVERS ECONOMIC COOPERATION ECONOMIC DYNAMICS ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC RECOVERY ECONOMIC SECTORS ECONOMIC STRUCTURE ECONOMIC SYSTEM ECONOMIES IN TRANSITION EDUCATIONAL CAMPAIGNS EFFECTIVE ALLOCATION EMPLOYER EMPLOYMENT EMPLOYMENT GROWTH ENERGY EFFICIENCY ENTERPRISE CREDIT ENTERPRISE GROWTH EXCHANGE RATE EXCHANGE RATES EXPLICIT SUBSIDIES EXPORT EARNINGS EXPORT GROWTH EXPORTS FINANCIAL DISTRESS FINANCIAL PERFORMANCE FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SUPPORT FISCAL RESOURCES FIXED CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS GDP GOVERNMENT DIRECTED CREDIT GOVERNMENT INTERVENTIONS GOVERNMENT POLICIES GOVERNMENT POLICY GREATER ACCESS GROSS DOMESTIC PRODUCT GROWTH RATE HIGH INTEREST RATE HIGH INTEREST RATES HIGH WAGES HOUSEHOLDS HOUSING HUMAN CAPITAL INDUSTRIAL ENTERPRISES INEQUALITY INFLATION INNOVATION INNOVATIONS INSTALLMENT INTEREST RATES INTERNATIONAL BANK INVENTORIES INVENTORY INVESTMENT GRANTS LABOR COSTS LABOR MARKET LABOR MARKET ISSUES LABOR MARKETS LABOR MOBILITY LABOR MOVEMENTS LABOR PRODUCTIVITY LABOR REGULATIONS LABOR SHORTAGES LABOR TURNOVER LABOUR LABOUR PRODUCTIVITY LEGISLATION LENDING POLICIES LIQUIDATION LOAN LOCAL GOVERNMENT LOCAL GOVERNMENTS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MANDATES MARKET DISCIPLINE MARKET DISTORTIONS MARKET INEFFICIENCY MARKET INSTRUMENTS MARKET PRICES METALS MIDDLE INCOME COUNTRY NATIONAL ECONOMY NEW ENTRANTS OIL OIL PRICES OUTPUTS OWNERSHIP STRUCTURE PENALTIES PERVERSE INCENTIVES PRICE CONTROLS PRICE INCREASES PRIVATIZATION PRIVILEGED ACCESS PRODUCERS PRODUCT MARKETS PRODUCTION PROCESSES PRODUCTIVE ASSETS PRODUCTIVITY PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PROFIT MARGINS PROFIT MAXIMIZATION PROFIT MOTIVE PROFITABILITY PROFITABLE BUSINESS PUBLIC FINANCE PUBLIC SERVICES PUBLIC TRANSPORTATION PURCHASING POWER PURCHASING POWER PARITY REAL GDP RECAPITALIZATION RECESSION RENT SEEKING RENTS REPAYMENT RESOURCE ALLOCATION SAVINGS SKILLED LABOR SMALL BUSINESSES SOCIAL DEVELOPMENT SOFT BUDGET CONSTRAINTS SOURCES OF INCOME STATE ENTERPRISES STATE SUPPORT SUBSIDIARIES SUBSIDIZATION SUPPLIERS SUPPLY CHAINS TAX ADMINISTRATION TAX CREDIT TAX EXEMPTIONS TAX INCENTIVES TAX REVENUES TAXATION TERM CREDIT TERMS OF TRADE TIMBER TOTAL COSTS TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE NEGOTIATIONS TRANSITION ECONOMIES UNION VALUE ADDED WAGE INCREASES WAGE POLICY WAGES WORKING CAPITAL WORLD TRADE ORGANIZATION WTO |
| spellingShingle |
ACCESS TO CREDIT ACCESS TO FINANCE ACCOUNTABILITY ADMINISTRATIVE BARRIERS AGRICULTURE ALLOCATION MECHANISMS ARREARS ATTRITION AUTONOMY AVAILABILITY OF CREDIT AVERAGE PRODUCTIVITY BALANCE OF PAYMENTS BANK CREDIT BANK CREDITS BANK LOANS BANK RECAPITALIZATION BANKING SYSTEM BANKRUPTCY BUDGET CONSTRAINTS BUSINESS DEVELOPMENT BUSINESS ENTRY BUSINESS PLANS CAPITAL STOCK CENTRAL BANKS CENTRALIZATION COMMERCIAL BANKING COMMERCIAL BANKS COMPARATIVE ADVANTAGE COMPETITIVE ADVANTAGES COMPETITIVENESS CONSOLIDATION CONSUMER PRICE INDEX CONSUMER SUBSIDIES CONSUMERS CORRUPTION COST OF CREDIT CPI CREDIT ALLOCATION CREDIT ALLOCATIONS CREDIT AVAILABILITY CREDIT DECISIONS CREDIT GUARANTEES CREDIT LINES CREDIT MARKETS CREDIT POLICY CREDIT PROGRAMS CREDITS CUSTOMER DEMAND DEVELOPMENT POLICY DIRECT CREDIT DIRECTED CREDIT DIRECTED CREDITS DRIVERS ECONOMIC COOPERATION ECONOMIC DYNAMICS ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC RECOVERY ECONOMIC SECTORS ECONOMIC STRUCTURE ECONOMIC SYSTEM ECONOMIES IN TRANSITION EDUCATIONAL CAMPAIGNS EFFECTIVE ALLOCATION EMPLOYER EMPLOYMENT EMPLOYMENT GROWTH ENERGY EFFICIENCY ENTERPRISE CREDIT ENTERPRISE GROWTH EXCHANGE RATE EXCHANGE RATES EXPLICIT SUBSIDIES EXPORT EARNINGS EXPORT GROWTH EXPORTS FINANCIAL DISTRESS FINANCIAL PERFORMANCE FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SUPPORT FISCAL RESOURCES FIXED CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS GDP GOVERNMENT DIRECTED CREDIT GOVERNMENT INTERVENTIONS GOVERNMENT POLICIES GOVERNMENT POLICY GREATER ACCESS GROSS DOMESTIC PRODUCT GROWTH RATE HIGH INTEREST RATE HIGH INTEREST RATES HIGH WAGES HOUSEHOLDS HOUSING HUMAN CAPITAL INDUSTRIAL ENTERPRISES INEQUALITY INFLATION INNOVATION INNOVATIONS INSTALLMENT INTEREST RATES INTERNATIONAL BANK INVENTORIES INVENTORY INVESTMENT GRANTS LABOR COSTS LABOR MARKET LABOR MARKET ISSUES LABOR MARKETS LABOR MOBILITY LABOR MOVEMENTS LABOR PRODUCTIVITY LABOR REGULATIONS LABOR SHORTAGES LABOR TURNOVER LABOUR LABOUR PRODUCTIVITY LEGISLATION LENDING POLICIES LIQUIDATION LOAN LOCAL GOVERNMENT LOCAL GOVERNMENTS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MANDATES MARKET DISCIPLINE MARKET DISTORTIONS MARKET INEFFICIENCY MARKET INSTRUMENTS MARKET PRICES METALS MIDDLE INCOME COUNTRY NATIONAL ECONOMY NEW ENTRANTS OIL OIL PRICES OUTPUTS OWNERSHIP STRUCTURE PENALTIES PERVERSE INCENTIVES PRICE CONTROLS PRICE INCREASES PRIVATIZATION PRIVILEGED ACCESS PRODUCERS PRODUCT MARKETS PRODUCTION PROCESSES PRODUCTIVE ASSETS PRODUCTIVITY PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PROFIT MARGINS PROFIT MAXIMIZATION PROFIT MOTIVE PROFITABILITY PROFITABLE BUSINESS PUBLIC FINANCE PUBLIC SERVICES PUBLIC TRANSPORTATION PURCHASING POWER PURCHASING POWER PARITY REAL GDP RECAPITALIZATION RECESSION RENT SEEKING RENTS REPAYMENT RESOURCE ALLOCATION SAVINGS SKILLED LABOR SMALL BUSINESSES SOCIAL DEVELOPMENT SOFT BUDGET CONSTRAINTS SOURCES OF INCOME STATE ENTERPRISES STATE SUPPORT SUBSIDIARIES SUBSIDIZATION SUPPLIERS SUPPLY CHAINS TAX ADMINISTRATION TAX CREDIT TAX EXEMPTIONS TAX INCENTIVES TAX REVENUES TAXATION TERM CREDIT TERMS OF TRADE TIMBER TOTAL COSTS TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE NEGOTIATIONS TRANSITION ECONOMIES UNION VALUE ADDED WAGE INCREASES WAGE POLICY WAGES WORKING CAPITAL WORLD TRADE ORGANIZATION WTO World Bank Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1 |
| geographic_facet |
Europe and Central Asia Europe Eastern Europe Commonwealth of Independent States Belarus |
| description |
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. |
| format |
Economic & Sector Work :: Country Economic Memorandum |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1 |
| title_short |
Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1 |
| title_full |
Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1 |
| title_fullStr |
Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1 |
| title_full_unstemmed |
Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1 |
| title_sort |
belarus - industrial performance before and during the global crisis : belarus economic policy notes - note no. 1 |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20100928232055 http://hdl.handle.net/10986/2906 |
| _version_ |
1764386138698547200 |
| spelling |
okr-10986-29062021-04-23T14:02:05Z Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1 World Bank ACCESS TO CREDIT ACCESS TO FINANCE ACCOUNTABILITY ADMINISTRATIVE BARRIERS AGRICULTURE ALLOCATION MECHANISMS ARREARS ATTRITION AUTONOMY AVAILABILITY OF CREDIT AVERAGE PRODUCTIVITY BALANCE OF PAYMENTS BANK CREDIT BANK CREDITS BANK LOANS BANK RECAPITALIZATION BANKING SYSTEM BANKRUPTCY BUDGET CONSTRAINTS BUSINESS DEVELOPMENT BUSINESS ENTRY BUSINESS PLANS CAPITAL STOCK CENTRAL BANKS CENTRALIZATION COMMERCIAL BANKING COMMERCIAL BANKS COMPARATIVE ADVANTAGE COMPETITIVE ADVANTAGES COMPETITIVENESS CONSOLIDATION CONSUMER PRICE INDEX CONSUMER SUBSIDIES CONSUMERS CORRUPTION COST OF CREDIT CPI CREDIT ALLOCATION CREDIT ALLOCATIONS CREDIT AVAILABILITY CREDIT DECISIONS CREDIT GUARANTEES CREDIT LINES CREDIT MARKETS CREDIT POLICY CREDIT PROGRAMS CREDITS CUSTOMER DEMAND DEVELOPMENT POLICY DIRECT CREDIT DIRECTED CREDIT DIRECTED CREDITS DRIVERS ECONOMIC COOPERATION ECONOMIC DYNAMICS ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC POLICY ECONOMIC RECOVERY ECONOMIC SECTORS ECONOMIC STRUCTURE ECONOMIC SYSTEM ECONOMIES IN TRANSITION EDUCATIONAL CAMPAIGNS EFFECTIVE ALLOCATION EMPLOYER EMPLOYMENT EMPLOYMENT GROWTH ENERGY EFFICIENCY ENTERPRISE CREDIT ENTERPRISE GROWTH EXCHANGE RATE EXCHANGE RATES EXPLICIT SUBSIDIES EXPORT EARNINGS EXPORT GROWTH EXPORTS FINANCIAL DISTRESS FINANCIAL PERFORMANCE FINANCIAL RESOURCES FINANCIAL SECTOR FINANCIAL SUPPORT FISCAL RESOURCES FIXED CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS GDP GOVERNMENT DIRECTED CREDIT GOVERNMENT INTERVENTIONS GOVERNMENT POLICIES GOVERNMENT POLICY GREATER ACCESS GROSS DOMESTIC PRODUCT GROWTH RATE HIGH INTEREST RATE HIGH INTEREST RATES HIGH WAGES HOUSEHOLDS HOUSING HUMAN CAPITAL INDUSTRIAL ENTERPRISES INEQUALITY INFLATION INNOVATION INNOVATIONS INSTALLMENT INTEREST RATES INTERNATIONAL BANK INVENTORIES INVENTORY INVESTMENT GRANTS LABOR COSTS LABOR MARKET LABOR MARKET ISSUES LABOR MARKETS LABOR MOBILITY LABOR MOVEMENTS LABOR PRODUCTIVITY LABOR REGULATIONS LABOR SHORTAGES LABOR TURNOVER LABOUR LABOUR PRODUCTIVITY LEGISLATION LENDING POLICIES LIQUIDATION LOAN LOCAL GOVERNMENT LOCAL GOVERNMENTS MACROECONOMIC MANAGEMENT MACROECONOMIC POLICY MANDATES MARKET DISCIPLINE MARKET DISTORTIONS MARKET INEFFICIENCY MARKET INSTRUMENTS MARKET PRICES METALS MIDDLE INCOME COUNTRY NATIONAL ECONOMY NEW ENTRANTS OIL OIL PRICES OUTPUTS OWNERSHIP STRUCTURE PENALTIES PERVERSE INCENTIVES PRICE CONTROLS PRICE INCREASES PRIVATIZATION PRIVILEGED ACCESS PRODUCERS PRODUCT MARKETS PRODUCTION PROCESSES PRODUCTIVE ASSETS PRODUCTIVITY PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PROFIT MARGINS PROFIT MAXIMIZATION PROFIT MOTIVE PROFITABILITY PROFITABLE BUSINESS PUBLIC FINANCE PUBLIC SERVICES PUBLIC TRANSPORTATION PURCHASING POWER PURCHASING POWER PARITY REAL GDP RECAPITALIZATION RECESSION RENT SEEKING RENTS REPAYMENT RESOURCE ALLOCATION SAVINGS SKILLED LABOR SMALL BUSINESSES SOCIAL DEVELOPMENT SOFT BUDGET CONSTRAINTS SOURCES OF INCOME STATE ENTERPRISES STATE SUPPORT SUBSIDIARIES SUBSIDIZATION SUPPLIERS SUPPLY CHAINS TAX ADMINISTRATION TAX CREDIT TAX EXEMPTIONS TAX INCENTIVES TAX REVENUES TAXATION TERM CREDIT TERMS OF TRADE TIMBER TOTAL COSTS TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE NEGOTIATIONS TRANSITION ECONOMIES UNION VALUE ADDED WAGE INCREASES WAGE POLICY WAGES WORKING CAPITAL WORLD TRADE ORGANIZATION WTO 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. 2012-03-19T10:24:23Z 2012-03-19T10:24:23Z 2010-06-25 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20100928232055 http://hdl.handle.net/10986/2906 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank Economic & Sector Work :: Country Economic Memorandum Europe and Central Asia Europe Eastern Europe Commonwealth of Independent States Belarus |