nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2005‒05‒29
three papers chosen by
Anna Y. Borodina
Perm State University

  1. International Capital Markets and Exchange Rate Stabilization in the CIS By Gunther Schnabl
  2. Fifteen years of economic reform in Russia: what has been achieved? What remains to be done? By Rudiger Ahrend; William Tompson
  3. Households' Demand for Higher Environmental Quality: The Case of Russia By Blam Inna

  1. By: Gunther Schnabl (Tuebingen University)
    Abstract: In this paper, we examine the rationale for dollar and euro pegging in Russia and the CIS. We consider macroeconomic stabilization and transaction costs for international trade as rationales for pegging to the euro. Dollarization of international assets and liabilities are examined as determinants of exchange rate stabilization against the dollar. The impact of network externalities from a common anchor for all CIS countries is explored. Tests on de facto exchange rate stabilization reveal that dollar pegging has been pervasive in the CIS.
    Keywords: CIS, Exchange Rate Systems
    JEL: F31 F32
    Date: 2005–05–24
  2. By: Rudiger Ahrend; William Tompson
    Abstract: The paper provides an overview of the course of economic reform and the performance of the Russian economy since the early 1990s and an analysis of the structural reform challenges ahead. It assesses the contribution of institutional and structural reforms to economic performance over the period, before turning to the question of where further structural reforms could make the biggest contribution to improved performance. Three major conclusions emerge. First, there is still a great deal to be done to strengthen the basic institutions of the market economy. While the Russian authorities have embarked on some impressive - and often technically complex - 'second-generation' reforms, many 'first-generation' reforms have yet to be completed. Secondly, the central challenges of Russia's second decade of reform are primarily concerned with reforming state institutions. Thirdly, the pursuit of reforms across a broad front could enable Russia to profit from complementarities that exist among various strands of reform. <p> Quinze ans de réformes économiques en Russie: Qu'a-t-elle acquis? Que reste-t-il à faire? <p> L'article donne un aperçu du déroulement des réformes économiques et des performances de l'économie russe depuis le début des années 90, ainsi qu'une analyse des enjeux des futures réformes structurelles. L'article considère la contribution des réformes institutionnelles et structurelles à la performance économique durant la période, avant d'examiner dans quels domaines des réformes structurelles additionnelles pourraient avoir la plus grande contribution à l'amélioration de la performance économique. Il en résulte trois conclusions majeures. Premièrement, il reste encore beaucoup à faire pour renforcer les institutions de base d'une économie de marché. Bien que les autorités russes aient commencé quelques réformes de "seconde génération" qui sont impressionnantes - et souvent techniquement complexes-, il reste un bon nombre de réformes de "première génération" à achever. Deuxièmement, les défis centraux de la deuxième décennie de réformes concernent en première ligne la réforme des institutions de l'État. Troisièmement, la poursuite des réformes sur un large front permettrait à la Russie de profiter des complémentarités existantes entre les différents axes des réformes.
    Keywords: Russia; economy; reform; growth; stabilisation; transparency; corruption; state ownership; competition; transition
    JEL: H1 K2 P21 P26 P27 P31 P37
    Date: 2005–05–11
  3. By: Blam Inna
    Abstract: This paper employs the Russia Longitudinal Monitoring Survey (RLMS) to examine changes in Russian households' averting behavior against air and drinking water pollution and their willingness to pay additional money to the federal or local government for cleaner environment over the period 1994–1998. The empirical analysis demonstrates that the households income and the local environmental pollution do influence the respondent's decision on both averting behavior and his or her willingness to pay for cleaner air and drinking water. Also, the individual's life expectancy, living conditions, and knowledge about the negative impact of polluted environment (higher or serious illness thought to be caused by pollution in the respondent's family) are found to be significant determinants of the probability of the willingness to pay for environmental goods.
    Keywords: Russia, willingness to pay for better higher environmental quality, averting behavior
    JEL: D12 Q53
    Date: 2005–05–26

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