Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1

World Bank

dc.creator	World Bank
dc.date	2012-03-19T10:24:23Z
dc.date	2012-03-19T10:24:23Z
dc.date	2010-06-25
dc.date.accessioned	2023-02-17T20:43:47Z
dc.date.available	2023-02-17T20:43:47Z
dc.identifier	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
dc.identifier	http://hdl.handle.net/10986/2906
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/243262
dc.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.
dc.language	English
dc.publisher	World Bank
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCESS TO CREDIT
dc.subject	ACCESS TO FINANCE
dc.subject	ACCOUNTABILITY
dc.subject	ADMINISTRATIVE BARRIERS
dc.subject	AGRICULTURE
dc.subject	ALLOCATION MECHANISMS
dc.subject	ARREARS
dc.subject	ATTRITION
dc.subject	AUTONOMY
dc.subject	AVAILABILITY OF CREDIT
dc.subject	AVERAGE PRODUCTIVITY
dc.subject	BALANCE OF PAYMENTS
dc.subject	BANK CREDIT
dc.subject	BANK CREDITS
dc.subject	BANK LOANS
dc.subject	BANK RECAPITALIZATION
dc.subject	BANKING SYSTEM
dc.subject	BANKRUPTCY
dc.subject	BUDGET CONSTRAINTS
dc.subject	BUSINESS DEVELOPMENT
dc.subject	BUSINESS ENTRY
dc.subject	BUSINESS PLANS
dc.subject	CAPITAL STOCK
dc.subject	CENTRAL BANKS
dc.subject	CENTRALIZATION
dc.subject	COMMERCIAL BANKING
dc.subject	COMMERCIAL BANKS
dc.subject	COMPARATIVE ADVANTAGE
dc.subject	COMPETITIVE ADVANTAGES
dc.subject	COMPETITIVENESS
dc.subject	CONSOLIDATION
dc.subject	CONSUMER PRICE INDEX
dc.subject	CONSUMER SUBSIDIES
dc.subject	CONSUMERS
dc.subject	CORRUPTION
dc.subject	COST OF CREDIT
dc.subject	CPI
dc.subject	CREDIT ALLOCATION
dc.subject	CREDIT ALLOCATIONS
dc.subject	CREDIT AVAILABILITY
dc.subject	CREDIT DECISIONS
dc.subject	CREDIT GUARANTEES
dc.subject	CREDIT LINES
dc.subject	CREDIT MARKETS
dc.subject	CREDIT POLICY
dc.subject	CREDIT PROGRAMS
dc.subject	CREDITS
dc.subject	CUSTOMER DEMAND
dc.subject	DEVELOPMENT POLICY
dc.subject	DIRECT CREDIT
dc.subject	DIRECTED CREDIT
dc.subject	DIRECTED CREDITS
dc.subject	DRIVERS
dc.subject	ECONOMIC COOPERATION
dc.subject	ECONOMIC DYNAMICS
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC PERFORMANCE
dc.subject	ECONOMIC POLICY
dc.subject	ECONOMIC RECOVERY
dc.subject	ECONOMIC SECTORS
dc.subject	ECONOMIC STRUCTURE
dc.subject	ECONOMIC SYSTEM
dc.subject	ECONOMIES IN TRANSITION
dc.subject	EDUCATIONAL CAMPAIGNS
dc.subject	EFFECTIVE ALLOCATION
dc.subject	EMPLOYER
dc.subject	EMPLOYMENT
dc.subject	EMPLOYMENT GROWTH
dc.subject	ENERGY EFFICIENCY
dc.subject	ENTERPRISE CREDIT
dc.subject	ENTERPRISE GROWTH
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATES
dc.subject	EXPLICIT SUBSIDIES
dc.subject	EXPORT EARNINGS
dc.subject	EXPORT GROWTH
dc.subject	EXPORTS
dc.subject	FINANCIAL DISTRESS
dc.subject	FINANCIAL PERFORMANCE
dc.subject	FINANCIAL RESOURCES
dc.subject	FINANCIAL SECTOR
dc.subject	FINANCIAL SUPPORT
dc.subject	FISCAL RESOURCES
dc.subject	FIXED CAPITAL
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN DIRECT INVESTMENT
dc.subject	FOREIGN DIRECT INVESTMENTS
dc.subject	GDP
dc.subject	GOVERNMENT DIRECTED CREDIT
dc.subject	GOVERNMENT INTERVENTIONS
dc.subject	GOVERNMENT POLICIES
dc.subject	GOVERNMENT POLICY
dc.subject	GREATER ACCESS
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GROWTH RATE
dc.subject	HIGH INTEREST RATE
dc.subject	HIGH INTEREST RATES
dc.subject	HIGH WAGES
dc.subject	HOUSEHOLDS
dc.subject	HOUSING
dc.subject	HUMAN CAPITAL
dc.subject	INDUSTRIAL ENTERPRISES
dc.subject	INEQUALITY
dc.subject	INFLATION
dc.subject	INNOVATION
dc.subject	INNOVATIONS
dc.subject	INSTALLMENT
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL BANK
dc.subject	INVENTORIES
dc.subject	INVENTORY
dc.subject	INVESTMENT GRANTS
dc.subject	LABOR COSTS
dc.subject	LABOR MARKET
dc.subject	LABOR MARKET ISSUES
dc.subject	LABOR MARKETS
dc.subject	LABOR MOBILITY
dc.subject	LABOR MOVEMENTS
dc.subject	LABOR PRODUCTIVITY
dc.subject	LABOR REGULATIONS
dc.subject	LABOR SHORTAGES
dc.subject	LABOR TURNOVER
dc.subject	LABOUR
dc.subject	LABOUR PRODUCTIVITY
dc.subject	LEGISLATION
dc.subject	LENDING POLICIES
dc.subject	LIQUIDATION
dc.subject	LOAN
dc.subject	LOCAL GOVERNMENT
dc.subject	LOCAL GOVERNMENTS
dc.subject	MACROECONOMIC MANAGEMENT
dc.subject	MACROECONOMIC POLICY
dc.subject	MANDATES
dc.subject	MARKET DISCIPLINE
dc.subject	MARKET DISTORTIONS
dc.subject	MARKET INEFFICIENCY
dc.subject	MARKET INSTRUMENTS
dc.subject	MARKET PRICES
dc.subject	METALS
dc.subject	MIDDLE INCOME COUNTRY
dc.subject	NATIONAL ECONOMY
dc.subject	NEW ENTRANTS
dc.subject	OIL
dc.subject	OIL PRICES
dc.subject	OUTPUTS
dc.subject	OWNERSHIP STRUCTURE
dc.subject	PENALTIES
dc.subject	PERVERSE INCENTIVES
dc.subject	PRICE CONTROLS
dc.subject	PRICE INCREASES
dc.subject	PRIVATIZATION
dc.subject	PRIVILEGED ACCESS
dc.subject	PRODUCERS
dc.subject	PRODUCT MARKETS
dc.subject	PRODUCTION PROCESSES
dc.subject	PRODUCTIVE ASSETS
dc.subject	PRODUCTIVITY
dc.subject	PRODUCTIVITY GROWTH
dc.subject	PRODUCTIVITY INCREASES
dc.subject	PROFIT MARGINS
dc.subject	PROFIT MAXIMIZATION
dc.subject	PROFIT MOTIVE
dc.subject	PROFITABILITY
dc.subject	PROFITABLE BUSINESS
dc.subject	PUBLIC FINANCE
dc.subject	PUBLIC SERVICES
dc.subject	PUBLIC TRANSPORTATION
dc.subject	PURCHASING POWER
dc.subject	PURCHASING POWER PARITY
dc.subject	REAL GDP
dc.subject	RECAPITALIZATION
dc.subject	RECESSION
dc.subject	RENT SEEKING
dc.subject	RENTS
dc.subject	REPAYMENT
dc.subject	RESOURCE ALLOCATION
dc.subject	SAVINGS
dc.subject	SKILLED LABOR
dc.subject	SMALL BUSINESSES
dc.subject	SOCIAL DEVELOPMENT
dc.subject	SOFT BUDGET CONSTRAINTS
dc.subject	SOURCES OF INCOME
dc.subject	STATE ENTERPRISES
dc.subject	STATE SUPPORT
dc.subject	SUBSIDIARIES
dc.subject	SUBSIDIZATION
dc.subject	SUPPLIERS
dc.subject	SUPPLY CHAINS
dc.subject	TAX ADMINISTRATION
dc.subject	TAX CREDIT
dc.subject	TAX EXEMPTIONS
dc.subject	TAX INCENTIVES
dc.subject	TAX REVENUES
dc.subject	TAXATION
dc.subject	TERM CREDIT
dc.subject	TERMS OF TRADE
dc.subject	TIMBER
dc.subject	TOTAL COSTS
dc.subject	TOTAL FACTOR PRODUCTIVITY
dc.subject	TOTAL OUTPUT
dc.subject	TRADE NEGOTIATIONS
dc.subject	TRANSITION ECONOMIES
dc.subject	UNION
dc.subject	VALUE ADDED
dc.subject	WAGE INCREASES
dc.subject	WAGE POLICY
dc.subject	WAGES
dc.subject	WORKING CAPITAL
dc.subject	WORLD TRADE ORGANIZATION
dc.subject	WTO
dc.title	Belarus - Industrial Performance before and During the Global Crisis : Belarus Economic Policy Notes - Note No. 1
dc.type	Economic & Sector Work :: Country Economic Memorandum
dc.coverage	Europe and Central Asia
dc.coverage	Europe
dc.coverage	Eastern Europe
dc.coverage	Commonwealth of Independent States
dc.coverage	Belarus