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The Belarusian case of transition: whither financial repression?

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  • Julia Korosteleva
  • Colin Lawson

Abstract

This article examines the financial development of Belarus, with special emphasis on 1996-2002, when the financial sector was restrained by pervasive government controls. Belarus is of particular interest as, despite no economic restructuring, annual growth has averaged 7% since 1997. It has been argued that monetary stimulation of investment through interest rate ceilings, directed credit and preferential loans revived growth. This article investigates whether a repressive financial policy adopted by the authorities in the late 1990s led to financial deepening and increased the share of savings allocated to investment.

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Article provided by Taylor & Francis Journals in its journal Post-Communist Economies.

Volume (Year): 22 (2010)
Issue (Month): 1 ()
Pages: 33-53

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Handle: RePEc:taf:pocoec:v:22:y:2010:i:1:p:33-53

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