nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2021‒06‒28
five papers chosen by

  1. Divided We Stay Home: Social Distancing and Ethnic Diversity By Egorov, Georgy; Enikolopov, Ruben; Makarin, Alexey; Petrova, Maria
  2. Regional convergence in CEE before and after the Global Financial Crisis By Smirnykh, Larisa; Woergoetter, Andreas
  3. The Palestine Currency Board: Its History and Currency By Berlin, Howard
  4. Republic of Uzbekistan: 2021 Article IV Consultation-Press Release; and Staff Report By International Monetary Fund
  5. Georgia: Eighth Review Under the Extended Fund Facility Arrangement-Press Release; and Staff Report By International Monetary Fund

  1. By: Egorov, Georgy; Enikolopov, Ruben; Makarin, Alexey; Petrova, Maria
    Abstract: Voluntary social distancing plays a vital role in containing the spread of the disease during a pandemic. As a public good, it should be more commonplace in more homogeneous and altruistic societies. However, for healthy people, observing social distancing has private benefits, too. If sick individuals are more likely to stay home, healthy ones have fewer incentives to do so, especially if the asymptomatic transmission is perceived to be unlikely. Theoretically, we show that this interplay may lead to a stricter observance of social distancing in more diverse and less altruistic societies. Empirically, we find that, consistent with the model, the reduction in mobility following the first local case of COVID-19 was stronger in Russian cities with higher ethnic fractionalization and cities with higher levels of xenophobia. For identification, we predict the timing of the first case using pre-existing patterns of internal migration to Moscow. Using SafeGraph data on mobility patterns, we confirm that mobility reduction in the United States was also higher in counties with higher ethnic fractionalization. Our findings highlight the importance of strategic incentives of different population groups for the effectiveness of public policy.
    Keywords: altruism; COVID-19; diversity; fractionalization; Pandemic; Quarantine; Russia; self-isolation; Social distancing; Xenophobia
    JEL: D64 D74 I12
    Date: 2020–05
  2. By: Smirnykh, Larisa (HSE University, Moscow); Woergoetter, Andreas (TU Wien)
    Abstract: In this study we analyze the convergence of GDP per capita from 2000 to 2013 (current prices and euro exchange rates) for eight countries (Czech Republic, Slovakia, Slovenia, Hungary, Poland, Estonia, Latvia and Lithuania) of the European Union (CEE8). Some convergence indicators are also calculated for the CEE8 as a whole. The main purpose of this study is to shed some light on the impact of the Global Financial Crisis (GFC) on regional convergence in advanced emerging countries, like the CEE8. The main result of random effects panel regressions for unconditional beta-convergence is that significant convergence is found for the whole period from 2000-2013, but not for sub-periods on either end of the sample, except for Hungary and Poland. This means that convergence in most CEECs is only significant if the GFC is included in the estimation period. The role of capital regions for the convergence process is an item for future research.
    Date: 2021–05
  3. By: Berlin, Howard (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)
    Abstract: When the British defeated the Ottoman Turks and the armistice was signed on October 31, 1918, Palestine, part of the defeated Ottoman Empire, was administratively divided into the Mutasarrifate (a sub province) of Jerusalem and the Vilayets (a major administrative district or province) of Beirut and Damascus. Palestine was then governed by the British, first as a military occupation, and then as a Mandate granted to them as a Trust by the League of Nations. Prior to 1927, Palestine had no currency that was solely its own, but rather coins and banknotes of many other countries that were used in Palestine. These were mostly those of Turkey, Egypt, France, Great Britain, India, Germany, Russia, Austria, and the United States. The author of this working paper traces the need for a Palestine currency and the formation of the Palestine Currency Board, which remained in effect until March 31, 1952, nearly four years after the State of Israel was established on May 14, 1948. Parts of this working paper was adapted from the author’s book: The Coins and Banknotes of Palestine Under the British Mandate, 1927-1947, McFarland & Company, Inc. (2001) and is built on the writings of numismatic researchers Jack H. Fisher, Esq. (deceased) and Raphael Dabbah, both of whom the author has had the pleasure of knowing for many years. Where verbatim passages are taken from British sources, the British spellings have been retained. Unless credited otherwise, all images of coins and currency notes were from the author’s collection.
    Keywords: Palestine Mandate; currency board; coins; currency notes
    JEL: E58 N15
    Date: 2021–06–18
  4. By: International Monetary Fund
    Abstract: Uzbekistan embarked on an ambitious reform path in 2017, starting to liberalize its economy after years of state control. Incomes are still relatively low compared to other emerging economies. Uzbekistan entered the COVID-19 crisis with relatively strong macro-economic fundamentals.
    Keywords: Policy discussion; government transparency; Policy recommendation; IMF's transparency policy; macro-economic policies; Budget planning and preparation; Public and publicly-guaranteed external debt; COVID-19; Global
    Date: 2021–04–26
  5. By: International Monetary Fund
    Abstract: Georgia has emerged from its second lockdown that was imposed in November 2020 following a sharp increase in COVID-19 cases. Vaccinations commenced in March 2021 and the country is now entering a critical stage in overcoming the pandemic. The lockdowns drove a contraction of around 6.2 percent of GDP in 2020, and a recovery is expected to take hold in the second quarter of 2021.
    Keywords: Policy discussion; inflation targeting framework; EFF arrangement; inflation expectation; budget lending; COVID-19; Loans; Credit; Central Asia; Global
    Date: 2021–04–20

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