| e-Newsletter |
| Last update 2010-08-23 |
| Seeking Fellow nominations CASE is seeking nominations of highly qualified researchers to join the network of CASE Fellows. Candidates should be experts in one or more of the following fields: labor market, social policy (including pension and other social welfare systems), international migration, health economics, education studies, EU regional and cohesion policy. More information about the opportunity. | ||||
| Customs Union between Belarus, Kazakhstan and Russia: Implications for Belarus On 27 of November 2009, Belarus, Kazakhstan and Russia agreed to create a Customs Union. The union establishes a common customs space in July 2010, but hopes to pave the way for deeper economic integration, namely a single economic space, by January 2012. Analyzing the potential implications of the agreement on the Belarusian economy, CASE Fellow Irina Tochitskaya reveals that while the newly introduced union may benefit the Belarusian budget due to increases in custom duties and charges, it is unlikely to increase foreign direct investment flows into the country. Instead, Russia followed by Kazakhstan will become the main beneficiaries of foreign direct investment under the agreement. CASE Network Studies and Analyses Report No. 405: The Customs Union between Belarus, Kazakhstan and Russia: and Overview of Economic Implications for Belarus | ||||
| CASE in Belgrade: Improving Management Procedures at the Ministry of Finance of the Republic of Serbia Serbia aims to one day join the EU, but the emerging market economy requires institutional modernization to bring its governance system in line with the best European standards and practices. Representing CASE, Marek Dabrowski visited the Ministry of Finance of the Republic of Serbia for a five-day mission. The trip kicked-off a project to establish modern internal governance and management procedures within the Ministry that will enable more functional and uniform operations, improve quality control mechanisms and enhance the organizational and ethical culture. | ||||
 Evaluating investment climate reforms in Sub‐Saharan AfricaCASE is performing an impact assessment study evaluating the investment climate reform initiatives in Sub-Saharan Africa. The study evaluates the impact of four International Finance Corporation initiatives which provided advisory services for investment climate reforms in Burkina Faso, Liberia, Rwanda and Sierra Leone. As the IFC programs come to a close, CASE has stepped in to evaluate the results achieved and the factors affecting implementation, to gain a thorough understanding of the impact, and to identify the key lessons for the design of future regional and global programs. | ||||
| Global Food Price Shock and the Poor in Egypt and Ukraine The global food price shock of 2006-2008 affected the poorer strata of populations in several developing countries. In Egypt and Ukraine, it has put food subsidy schemes to the test. See how their subsidy schemes and policy responses compare in CASE Network Studies and Analyses Report No. 403. The report has been published following the completion of Global Food Price Shock and the Poor in Egypt and Ukraine: A Comparison of Policy Regimes and Reform Options, a FEMISE research network project carried out by CASE in partnership with CASE-Ukraine and ECES-Egyptian Center for Economic Studies. | ||||
 Does the Crisis Experience Call for a New Paradigm in Monetary Policy?CASE Network Studies and Analyses Report No. 402 evaluates monetary policy during the financial crisis by dividing the crisis into three stages: pre-panic, panic and post-panic. Author John B. Taylor explains that the monetary policy paradigm in place before the financial crisis worked very well; the crisis occurred when policy makers deviated from that paradigm and undertook extraordinary measures which fell short of their expectations. Rather than calling for a new paradigm in monetary policy, John B. Taylor promotes a stricter adherence to the rules already in place. | ||||
 After the Orange Era: Economic Prospects in UkraineWhen Victor Yanukovich won Ukraine's presidential election in February 2010, it marked the official end of the Orange Revolution. Soon after taking office, Yanukovich managed to form a loyal parliamentary coalition by appointing his ally Mykola Azarov as Prime Minister. This decision may have made immediate term governing more stable, but has it come at the expense of Ukraine's long-term democratic freedom and economic prosperity? Read CASE Network E-brief 10/2010 for more on the political and economic outlook for Ukraine. | ||||
| Weighing the costs and benefits of a free trade area between the EU and Russia The EU-Russia Partnership and Cooperation Agreement, which entered into force in 1997, foresees the possible establishment of a free trade area (FTA) between the parties. In analysing the partnership, CASE found that an EU-Russia FTA would prove beneficial to both the Russian Federation and the EU27. While under the agreement some sectors are expected to contract in the medium term, their importance in total output is small. Over the long run, the majority of sectors in Russia should expand, and only a few sectors in the EU27 may register negligible decreases in output. The overall increase in economic activity and wages, coupled with domestic policies aimed at easing the impact of transitional unemployment, could set the stage for an overall reduction of poverty rates. Read more in Modeling Economic, Social and Environmental Implications of a Free Trade Agreement Beteween the Europeand Union and the Russian Federation [CASE Network Report No. 93] | ||||
 The impact of the single market on cohesion: implications for cohesion policy, growth and competitiveness In partnership with LSE Enterprise and the Vienna University of Economics and Business & University of Helsinki, CASE begins a study titled, Single Market on Cohesion: Implications for Cohesion Policy, Growth and Competitiveness. Project researchers will provide an overview of cohesion policy and its interrelationship with other EU policies promoting competitiveness and a single market. Experts will draw conclusions for the future cohesion policy for the period post-2013 and explore the possible ways to resolve the principle-agent problem in the context of the Europe 2020 strategy. | ||||
| CASE concludes a study on the EU’s Generalised System of Preferences trade arrangement for developing countries As a partner in the consortium led by CARIS (University of Sussex), CASE has completed a mid‐term evaluation of the EU’s Generalised System of Preferences with a final report published by DG TRADE. GSP is a tradearrangement through which the EU provides preferential access to the EU market to 176 developing countries and territories in the form of reduced tariffs for their goods. The report considers the extent to which GSP regimes meet the needs of developing countries and puts forward recommendations for possible improvements. Final Report: Mid-term Evaluation of the EU’s Generalised System of Preferences | ||||
 John B. Taylor on the causes of global financial crisis and how to prevent future crisesInvited by CASE and BRE Bank John B. Taylor gave presentations at two key events in Warsaw and attended meetings with CASE experts, academia, policy makers, bankers, and economic journalists. At the BRE-Bank Macroeconomic Forum on June 22, Taylor gave a presentation titled, The financial crisis: the causes and lessons learnt. How to prevent future crises. On June 23, CASE and the Warsaw School of Economics hosted Professor Taylor for a seminar addressing the question, “Does the crisis experience call for a new paradigm in monetary policy?” Presentations: | ||||
 CASE hosts representatives of Armenian Think TanksFrom June 28 to July 2 CASE-Center for Social and Economic Research had the pleasure to host directors from two Armenian Think Tanks for an observational study tour. Our visitors were experts in Media Regulation and Conflict Resolution in Armenia and the South Caucasus representing the Internews’ Center for Information Law and Policy (CILP) and the Institute for Civil Society and Regional Development (ICSRD). Whereas there is a large number of think tanks in Armenia, a small number engages in policy research, and, of those that do engage in comprehensive policy research, very few have a measureable impact on policy outcomes. In order to enhance the policy-oriented research capacities of the participating institutes, CASE provided the representatives with a five day programme during which they observed the day-to-day workings of a think tank in a new member state of the EU. | ||||
 Fiscal developments in Europe and Central AsiaLuca Barbone, currently the Director for Economic Management and Poverty Reduction in Europe and Central Asia at the World Bank, gave a presentation at the most recent CASE Research Policy Seminar on June 17th. He spoke about “Fiscal developments in Europe and Central Asia in the wake of the crisis”. The Seminar was introduced by Marek Dabrowski, and commented by CASE Researcher, Maciej Krzak. Luca Barbone detailed the different stages of fiscal policy before, during and after the crises in the region and explained trends in revenues and spending. | ||||
 Euro Crisis or Debt Crisis?The public debt crisis is not limited to Greece or to the Euro area. In fact, several developed economies face rapidly growing debt-to-GDP ratios, which raise doubts about their long-term solvency. Thus, suggesting that the Eurozone is undergoing a currency crisis or is in danger of disintegration is not the right diagnosis (or at least premature). However, if prudent fiscal policies, fiscal discipline and far-reaching structural reforms are not undertaken soon, both the EU and EMU may face serious internal tensions and obstacles to future economic growth. (...) Read the full text CASE Network E-brief 09/2010 authored by Marek Dabrowski. | ||||
| How service sector innovation and internationalisation impact growth and productivity – CASE kicks-off the SERVICEGAP project The increasing importance of the market service sector appears to play a crucial role in the differential economic performance among industrialised countries. A new CASE project is considering the academic and policy concerns that arise from this phenomenon. It does so by examining developments in: productivity and its drivers within market services, linkages between services and manufacturing industries, innovation in delivery and types of services, and international relationships. The research will produce a comprehensive study on the impact of market services on aggregate economic growth in the EU and its comparative performance level relative to competitor regions, particularly the US. | ||||
 Is Inflation a Global Threat?Does inflation pose a serious global threat? According to CASE Network E-brief 8/2010, the fear of inflation is greater than justified. Positive signs emerging from the global economy prompt many economists to voice their concerns about the threat of imminent inflation. However, a careful investigation of the current economic environment suggests that while some risks exist and need to be monitored - inflation is very unlikely to get out of control in the short-to-medium term. | ||||
| CASE wins two new framework contracts CASE has recently been successful in obtaining two new multiple framework contracts (FWC) in partnership with ECORYS - Research & Consulting from the Netherlands. Of the two new contracts, the first addresses the budget and budgetary control of the different EU policy areas, focusing on EU external policies (commissioned by the European Parliament). The second agreement concentrates on the structural performance of the European economies, structural reforms and economic evaluation of community policies (funded by the European Commission DG for Economic and Financial Affairs). | ||||
 Russia at a crossroads“Putin has had luck, but he has done very little for Russia,” said Anders Aslund, during a CASE Policy Research Seminar, June 7, 2010. Dr. Aslund discussed Russia after the global financial crisis. The speaker described the shocking outcomes of the crisis on the Russian economy and the key concerns the country now faces. Putin’s severe mismanagement of the economy, coupled with the hardship brought on by the crisis, have left Russia at a crossroads where sustaining the status quo is no longer an option. | ||||
 EU-Mediterranean Trade: Shifting from “shallow” to “deep” integrationPolicies guiding economic and trade relations between the European Union (EU) and countries of the Mediterranean were aimed at creating an area of shared prosperity. More than ten years after the first trade Association Agreements came into effect, CASE Fellows Luc De Wulf and Maryla Maliszewska evaluate how these agreements have influenced regional trade and suggest policies and approaches that would assist these agreements to move from the “shallow integration” process (based simply on tariff reductions) towards “deep integration”, which will benefit from greater coordination and harmonization of economic policies and trade standards. Read CASE Network E-Brief 7/2010 Prospects for Future Euro‐Mediterranean Trade for more on regional growth trends, potential for trade expansion, and policy recommendations for improving market access and the business environment. | ||||
 The debt crisis is not limited to Greece and the eurozone“The Greek crisis is not limited to the euro zone,” CASE President Marek Dabrowski told the International Herald Tribune. “When you look at the world economic outlook, it is clear that in many advanced countries, such as the United States and Japan, there is a huge expansion of public debt as a result of the financial crisis and recession as well as short-term fiscal policy. So Greece is not an isolated case.” See "Transformation of the E.U. Has Not Been Painless" published on May 23, 2010 in the International Herald Tribune for more comments by Marek D±browski on savings, public sector borrowing, access to credit and EU reform fatigue. | ||||
 Poland: Reviewing Public Expenditure, Reforming the Social SectorOn May 17, 2010, CASE hosted World Bank Senior Economist Kaspar Richter, CASE Fellow Mateusz Walewski, and World Bank Country Manager for Poland and the Baltic States, Thomas Laursen, for a Policy Research Seminar to discuss the issue of public expenditure and social reform in Poland. Thomas Laursen introduced the release of the annual World Bank Public Expenditure Review, Kaspar Richter’s presentation outlined the findings of the report and commentary on its findings and recommendations was provided by Mateusz Walewski. View Kaspar Richter’s presentation and the full text Public Expenditure Review. | ||||
 Oil Money vs. Economic Crisis: The Case of AzerbaijanIn Network E-Brief 6/2010 CASE Fellows Alexander Chubrik and Mateusz Walewski examine the effects of global financial crisis on Azerbaijan’s economy. As a small, CIS country dependent on oil exports, Azerbaijan is an interesting case study. The worst damage to its economy was not a direct result of the crisis, but of the drop in oil prices which led to a serious GDP reductions. In early 2010, oil prices and investment are on the rise and the outlook for Azerbaijan’s non-oil sector is improving, but the authors warn that inflation is becoming the main short-term challenge which may undermine recovery by offsetting rising non-oil exports and by contributing to both an increase of imports and a non-oil external trade deficit. | ||||
| Mapping Trends in Public Financial Management in the CEE/CIS region The results of a study mapping the trends in public financial management (PFM) reforms in 19 countries belonging to the following three regions: Western Balkans, Eastern Europe and Central Asia, have been published the in CASE Network Report No. 92 “Challenges and Trajectories of Fiscal Policy and PFM Reform in CEE/CIS”. The report provides an overview of fiscal policies and public financial management in countries of the former Soviet Union and former Yugoslavia and highlights areas for improvement. The analysis of the public sector expenditures has lead the researchers to conclude that the post-communist welfare state in the Western Balkans and the European part of the CIS (without the Caucasus) is both premature (given the low level of economic development of these countries) and inefficient, as it does not help to reduce poverty and inequality (and sometimes even increases them). A common problem of CEE/CIS countries is an insufficient level of fiscal decentralization (apart from the Russian Federation and Bosnia & Herzegovina), which creates an obstacle to improving social assistance targeting and the quality of public services on a local level. | ||||
 Remembering Gaidar, man of many talents“Unfairly savaged by Russian populists, Russia’s radical reformer was a brilliant technocrat, a rigorous academic, and a good man. Gaidar’s academic accomplishments resonated far beyond Russia’s borders. His comparative historical approach demonstrated the extent of his multi-disciplinary erudition and ability to theorize the practical experience of various countries and institutions." CASE President Marek D±browski remembers the life achievements of Yegor Gaidar, CASE Advisory Board Member, Director of the Institute for the Economy in Transition, and the former Deputy and Acting Prime Minister of Russia who managed to break with the communist economic past and lay down the foundations for a modern market economy. Read the full article published May 3, 2010 on OpenDemocracy | ||||
| Mergers and Acquisitions - The Standing of theory in the Quest for Better Institutions and Policy “Mergers and acquisitions to date is the only method by which the unique resources of firms that are organizationally embedded can be passed on from one firm to another and hence also potentially survive across generations.” In CASE Network Studies and Analyses Report No. 401, CASE Fellow Camilla Jensen delves into the subject of mergers and acquisitions. She notes that the existing literature is much like a battlefield of ad hoc theory-testing, leaving behind a fragmented field. While there are still many lacunas in the existing literature, today’s understanding of mergers and acquisition reflects from a deadlock between the theories of managerialism, institutionalism and a resource-based view. Mergers and acquisitions are an important, yet poorly understood economic phenomenon. This lack of analytic knowledge has important, negative repercussions for public policy. | ||||
 New project takes off - The EU-Mediterranean Partnership until 2025A kick-off meeting in Brussels on 14-15 April 2010 commenced a new three-year FP-7 project, MEDPRO - Prospective Analysis for the Mediterranean Region carried out by the consortium of 18 institutes from Europe and Mediterranean region and led by the Center for European Policy Studies (CEPS). CASE plays one of the key roles in this consortium coordinating WP5 on “Economic integration, trade, investment and sectoral analysis” and contributing to three other workpackages, including project’s scientific coordination. By considering a wide range of political, social, environmental and economic interactions, MEDPRO aims to put forward a number of alternative scenarios that can be expected to arise by 2025 in the region. MEDPRO findings will provide the foundations for future policy on social and economic sustainable development, and depict the role of the EU in providing new avenues for the future of EU-Mediterranean Partnership. | ||||
 Improving international development cooperation of NGOs in the Visegard countriesMainstreaming gender into international development projects, and the social and economic development impact of international migration, were the themes covered by the two most recent Raising Awareness Round Tables completed under the project, Fostering Global Responsibility: Building a Development Policy Knowledge Network to enhance NGO Public Outreach Initiatives in EU New Member States. Round Table VI was held in Prague on 18-19 of February, and Round Table VII in Budapest, March 25-26. Each two day conference hosted speakers and workshop leaders to engage participants in these key development issues. In total, the events trained close to 50 representatives of NGO development platforms from the Czech Republic, Slovakia, Hungary and Poland. | ||||
 "Dutch disease" threatens Venezuelan economyOn March 23, 2010, Teodoro Petkoff, Venezuelan journalist, economist and former politician delivered a lecture about his nation’s economy and politics. The lecture took place as part of the CASE Policy Research Seminar series. Petkoff stated that as a member of OPEC, Venezuela’s economy bears a greater resemblance to oil-rich countries such as Nigeria, Algeria and Saudi-Arabia, than to some of its Latin-American neighbours. He explained that Venezuela suffers from the so-called curse of natural resources, or what Petkoff labelled the ‘Dutch disease’; the Venezuelan economy is dependant on oil exports to a degree which suffocates the development of other economic activities. During the seminar, Petkoff also discussed the effects of the political situation on the economy. | ||||
 Social security, Labour Market and Restructuring – Russia and Ukraine In Social security, Labour Market and Restructuring – Russia and Ukraine (CASE Network E-Brief 5/2010) expert Anna Ruzik looks back at the evolution of the labour market and social security in the past two decades. She welcomes recent reforms of the social safety net, but at the same time, worries about the effectiveness of social support programmes. In analyzing the gender dimension, Ms. Ruzik finds that the reforms have widened the gender gap by aggravating certain disadvantageous conditions for women. | ||||
| The global financial crisis and public service delivery in the former Soviet Union CASE has been selected to implement a 12 month project to asses the impact of the global financial crisis on public service delivery in former Soviet Union economies. Within the study, CASE experts will analyze the immediate impact of the global financial crisis on two key sectors of public services (education and healthcare) focusing on six economies: Belarus, Georgia, Kyrgyzstan, Moldova, Russia and Ukraine. | ||||
 Calling for reforms: the post-crisis development in RussiaDespite economic stabilization of the Russian economy in the first half of the 2009, Russia finds itself in a difficult position with no explicit post-crisis exit strategy and drawn-out economic problems calling for reforms. In Challenges of Post-Crisis Economic Policy in Russia (CASE E-brief 04/2010), expert Sergey Drobyshevsky points to the key economic challenges, which, if not addressed, put at risk the gains brought by the period of rapid economic development. Despite popular slogans about the need for modernization and economic development, the current lack of political will to conduct the named reforms preserves the dominant role of Russian raw material sector. | ||||
 The price of delay: the future of Russian and Ukrainian pension systemsWith average pension rates in Russia and Ukraine just above the official poverty lines, it is clear that reforms in the system are both necessary and urgent. The “redecorating” of the old pension systems can no longer solve the core problems which both countries are facing. In The price of delay: the future of Russian and Ukrainian pension systems, CASE expert Oxana Sinyavskaya pleads for sweeping reforms of their pensions systems. Instead of focusing solely on the economic background, she suggests that policy makers should realize that certain features of the demographic development of both countries are responsible for the long-term instability of their pension systems.
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 Window of Opportunity for ReformsThe authors of Proposals for Ukraine 2010 – Time for Reforms regard the new presidential mandate, the shock of a recent severe economic crisis, and popular dissatisfaction with the status-quo, as ideal conditions for successful reform to take place in Ukraine. Despite the harsh effects of the crisis and Ukraine’s gloomy perspectives, an independent International Expert Commission finds windows of opportunity in the current situation. The chairman of the CASE Advisory Council, Anders Aslund, co-chaired this Expert Commission together with Oleksandr Paskhaver. Among others, CASE President, Marek D±browski, and CASE Advisory Council Member, Charles Wyplosz joined the Commission to get Ukraine’s reform priorities straight in a 10-point plan, complete with suggestions for fields ranging from reforms in the gas sector, to privatization, and to modernization of commercial legislation. The report was published by the International Centre for Policy Studies. | ||||
 Reducing Shadow Employment: Russia and UkraineFinding that workers in the shadow economies in both Russia and Ukraine do not receive higher net incomes than those in the formal sector, CASE Fellow Mateusz Walewski concludes that incentives driving workers to join the shadow economy in both cases are not based on tax evasion but rather the lack of formal employment opportunities. Therefore, the tax reforms of 2001 and 2004 in Russia and Ukraine, respectively, which aimed to reduce the benefits of joining the shadow economy, failed to address the true incentives for shadow employment. | ||||
 Sound expenditure and long term growth: assessing public finances in the EU Mediterranean partner countries Drawn from a diverse array of countries, ranging from candidate-member Croatia to autocratic Syria, data point to clear connections between sound public finance expenditure and long-term growth in the EU’s Mediterranean Partner Countries. The findings are part of a report completed for the European Commission, DG ECFIN, by CASE Fellows, Luc De Wulf and Cyrus Sassanpour, along with Leonor Coutinho. The full report of the “Study on quality of public finances in support of growth in the Mediterranean partner countries of the EU” is now available online on the EC website. | ||||
| Energy Investment Potential: Ukraine Beginning in February, CASE will complete a 4 month study for the OECD digging deep to uncover the potential of energy savings, efficiency improvements, and the use of environmentally friendly technology, in the energy market in Ukraine. The study will be a part of the OECD Investment Policy Review of Ukraine carried out by the OECD Investment Division in order to enhance the country’s policy convergence with the OECD investment instruments and prepare the ground for its eventual adherence to the OECD Declaration on International Investment and Multinational Enterprises. The study (Investment in support of energy savings and efficiency and in environment friendly energy resources and technologies in Ukraine: Government policies and business practices) will be lead by CASE Fellow Wojciech Paczynski. | ||||
 Receive the latest E-briefs! You can now receive e-briefs in your inbox. Each month, CASE publishes concise articles providing insight into the most recent global economic issues. E-Brief 09/2009 The Baltic Conundrum explored the path of the Baltic States into their current crisis, reflected on the appropriateness of past decision and the options that lay ahead. “If international finance and macroeconomics are now to be redesigned, ‘the Baltic Conundrum’ should be kept in mind,” concluded the authors. “Here, we have a group of countries that suffered disproportionately from the effects of the global economic crisis, despite having done ‘most things right’.” In order to subscribe to CASE E-briefs please send an email to: | ||||
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