The Belarusian case of transition: whither financial repression?

J Korosteleva, Colin Lawson

Research output: Contribution to journalArticle

7 Citations (Scopus)

Abstract

This article examines the financial development of Belarus, with special emphasis on 1996-2002, when the financial sector was restrained by pervasive government controls. Belarus is of particular interest as, despite no economic restructuring, annual growth has averaged 7% since 1997. It has been argued that monetary stimulation of investment through interest rate ceilings, directed credit and preferential loans revived growth. This article investigates whether a repressive financial policy adopted by the authorities in the late 1990s led to financial deepening and increased the share of savings allocated to investment.
Original languageEnglish
Pages (from-to)33-53
Number of pages21
JournalPost-Communist Economies
Volume22
Issue number1
DOIs
Publication statusUnpublished - Mar 2010

Keywords

  • financial sector
  • financial repression
  • financial depth

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