Belarus experienced rapid economic growth in the 2000's, which abruptly came to halt after 2008. The authors found that the major source of growth was capital accumulation, while growth in total factor productivity (TFP) was modest. Moreover, government interventions and controls on the capital market contributed to misallocation which lowered aggregate productivity. Lack of productivity growth led to the loss of competitiveness on the international markets. Comparisons of TFP in Belarus with the Czech Republic and Sweden shows that comparative advantages of Belarus are concentrated in the natural-resource based industries, and TFP gap with the Czech Republic is not closing over time.

Integration Formations in the Monetary Sphere: the Possibility and the Necessity for Monetary Integration in the Post-Soviet Region

Decomposition of Economic Growth in Belarus

Can Anti-Smoking Campaigns Increase Obesity? Evidence from Belarus

The authors propose a parsimonious model with adverse selection where delinquency, renegotiation, and bankruptcy all occur in equilibrium as a result of a simple screening mechanism.

This study analyzes the effects of directed lending upon total factor productivity and GDP growth in Belarus over the period of 2000–2012.