Tag: transitional economies

The risks of doing business in 1990s Russia

Transition in Eastern Europe – Gary Becker and Ronald Coase

Capitalism and The Great Fact in China

Doing business in Russia and Italy – World Bank rankings compared

Figure 1: Doing Business rankings, Russia and Italy, 2014

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Source: World Bank Doing Business 2015.

It is rather disturbing that it is a lot easier to register property and enforce contracts in Russia than in Italy and  far harder to pay your taxes in Italy. Once again, Italy’s saving grace is the ability to trade across borders Because of its membership of the European Union.

Greece (61st) is ranked one above the Russia in the World Bank’s Doing Business Survey 2015

Figure 1: Greek and Russian Doing Business sub-rankings, 2015

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Source: World Bank Doing Business 2015.

As long as you’re not in a construction or export business, and don’t mind waiting for your electricity, it’s better to do business in Russia than in Greece! The main difference between Russia and Greece is its membership of the European Union makes it easy to export?

In Russia, it’s easier to start a business, register property and enforce contracts than it is in Greece!

Maybe joining Euroland isn’t that bad after all

Words used in Chinese books illuminate how a nation’s values changed during economic reforms | UCLA

Chinese books

Use of the word “communal” rose sharply during the Cultural Revolution, especially from 1970 to 1976; it decreased during the 1980s. (China launched economic reforms in 1978, and they continue to this day.)

 

The word “autonomy” was used just one-third as frequently as “obedience” in 1970. In 2008, the ratio had flipped and “autonomy” appeared three times as much as “obedience.”

 

The increase in use of words like “choose,” “compete,” “private,” “autonomy” and “innovation” demonstrated a growing prevalence of individualistic values coinciding with sharp rises in urban population, household consumption and education levels.

 

Words reflecting communal values, such as “help” and “sacrifice,” declined in frequency.

via Words used in Chinese books illuminate how a nation’s values changed during economic reforms | UCLA.

The Putin Effect on transitional economies in the former Soviet union

Poland was in the same position as Ukraine after the collapse of the Soviet empire, but it followed better policy and is now several times richer.