TY - JOUR
T1 - The belarusian model of economic transition and industrialization
AU - Song, Min Young
AU - Mah, Jai S.
N1 - Publisher Copyright:
© Koninklijke Brill NV, Leiden, 2020.
PY - 2020
Y1 - 2020
N2 - This article discusses the economic development of Belarus, which took the gradualist approach in transition. Rejecting the Washington Consensus - based reform, Belarus experienced a quick recovery during the 1990s and rapid economic growth during the early to mid-2000s. The government took various policy measures to ensure the structure of a centrally planned economy. These measures included price control, emphasis on the large state-owned enterprises, restrictions on foreign direct investment (FDI) inflows, and tariff protection. Facing limits to economic growth since the late 2000s, the government has undertaken liberalization measures including price decontrol, promotion of small and medium-sized enterprises, derestriction of FDI inflows, and trade liberalization. In the meantime, realizing the role of industrialization, it placed an emphasis on development of the manufacturing sector by lowering tariff rates imposed on capital goods. Finally, the article provides policy implications for the other developing and transition economies pursuing economic development in light of the experience of Belarus.
AB - This article discusses the economic development of Belarus, which took the gradualist approach in transition. Rejecting the Washington Consensus - based reform, Belarus experienced a quick recovery during the 1990s and rapid economic growth during the early to mid-2000s. The government took various policy measures to ensure the structure of a centrally planned economy. These measures included price control, emphasis on the large state-owned enterprises, restrictions on foreign direct investment (FDI) inflows, and tariff protection. Facing limits to economic growth since the late 2000s, the government has undertaken liberalization measures including price decontrol, promotion of small and medium-sized enterprises, derestriction of FDI inflows, and trade liberalization. In the meantime, realizing the role of industrialization, it placed an emphasis on development of the manufacturing sector by lowering tariff rates imposed on capital goods. Finally, the article provides policy implications for the other developing and transition economies pursuing economic development in light of the experience of Belarus.
KW - Belarus
KW - Central planning
KW - Economic development
KW - Gradualism
KW - Industrialization
UR - http://www.scopus.com/inward/record.url?scp=85091676484&partnerID=8YFLogxK
U2 - 10.1163/15691497-12341560
DO - 10.1163/15691497-12341560
M3 - Article
AN - SCOPUS:85091676484
SN - 1569-1500
VL - 19
SP - 359
EP - 382
JO - Perspectives on Global Development and Technology
JF - Perspectives on Global Development and Technology
IS - 3
ER -