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Belarus' Anti-Crisis Management: Success Story of Delayed Recession?

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  • Dzmitry Kruk

Abstract

The response of Belarus to the global economic crisis was shaped by a number of distinctive features of the Belarusian economy and of the economic policies implemented before the crisis. The specifics of anti-crisis management in Belarus resulted in a distribution of output losses for a number of subsequent periods and delayed recession. The scenario of stabilisation policies in Belarus can therefore be regarded as ineffective. The core reasons for this are an inappropriate choice of policy instruments and delayed exit from stabilisation policy. It is argued that this policy mix has long-term implications, including worsening economic growth prospects.

Suggested Citation

  • Dzmitry Kruk, 2013. "Belarus' Anti-Crisis Management: Success Story of Delayed Recession?," Europe-Asia Studies, Taylor & Francis Journals, vol. 65(3), pages 473-488.
    • Handle: RePEc:taf:ceasxx:v:65:y:2013:i:3:p:473-488
    DOI: 10.1080/09668136.2013.779457
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    References listed on IDEAS

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    1. Mr. Alain Ize, 2005. "Financial Dollarization Equilibria: A Framework for Policy Analysis," IMF Working Papers 2005/186, International Monetary Fund.
    2. Kolesnikova, Irina, 2010. "State Aid for Industrial Enterprises in Belarus: Remedy or Poison?," MPRA Paper 22403, University Library of Munich, Germany.
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