nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2022‒10‒17
nineteen papers chosen by

  1. Russian foreign trade after four months of war in Ukraine By Simola, Heli
  2. Has the Russian Invasion of Ukraine Reinforced Anti-Globalization Sentiment in Austria? By Jerg Gutman; Hans Pitlik; Andrea Fronaschütz; Jerg Gutmann
  3. North Korea as a Complex Humanitarian Emergency: Assessing Food Insecurity By Marcus Noland
  4. Territorialisation, Urbanisation, and Economic Development in the Russian Arctic: Energy Issues By Sébastien Gadal; Moisei Ivanovich Zakharov; Jūratė Kamičaitytė
  5. Финансовая грамотность и инфляционные ожидания домашних хозяйств // Financial literacy and inflation expectations of households By Агамбаева Саида // Agambayeva Saida; Конурбаева Наталья // Konurbayeva Natalya
  6. The impact of industrial pollution exposure on hospital admissions: Evidence from a cement plant in Russia By Mariia Murasheva; Maria A. Cunha-e-Sa
  7. Mittelfristprojektion für Deutschland im Herbst 2022 - Energieknappheit lastet auf Produktionspotenzial By Boysen-Hogrefe, Jens; Gern, Klaus-Jürgen; Groll, Dominik; Hoffmann, Timo; Jannsen, Nils; Kooths, Stefan; Meuchelböck, Saskia; Reents, Jan; Sonnenberg, Nils; Stolzenburg, Ulrich
  8. IAB-Prognose 2022/2023: Drohende Rezession bremst boomenden Arbeitsmarkt By Gartner, Hermann; Hellwagner, Timon; Hummel, Markus; Hutter, Christian; Wanger, Susanne; Weber, Enzo; Zika, Gerd
  9. The Costs of Natural Gas Dependency: Price Shocks, Inequality, and Public Policy By Mats Kröger; Maximilian Longmuir; Karsten Neuhoff; Franziska Schütze
  10. Understanding commodity markets to effectively address price increases and volatility in a post-COVID-19 world By Newman, Susan; Van Huellen, Sophie
  11. Deutsche Wirtschaft im Herbst 2022 - Konjunktur auf Entzug By Boysen-Hogrefe, Jens; Groll, Dominik; Hoffmann, Timo; Jannsen, Nils; Kooths, Stefan; Meuchelböck, Saskia; Sonnenberg, Nils
  12. Liberia: 2022 Article IV Consultation and Fourth Review of the Extended Credit Facility Arrangement, Requests for Waiver of Nonobservance of Performance Criterion, and Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Liberia By International Monetary Fund
  13. Stock market development as a leading indicator of future economic growth in the BRICS countries By Klara Zalesakova
  14. Panama: Second Review Under the Arrangement Under the Precautionary and Liquidity Line-Press Release; Staff Report; and Statement by the Executive Director for Panama By International Monetary Fund
  15. Euroraum im Herbst 2022 - Rezession voraus By Boysen-Hogrefe, Jens; Groll, Dominik; Kooths, Stefan; Sonnenberg, Nils; Stolzenburg, Ulrich
  16. A question of regulation or motivation? Environmental innovation activities in transition economies By Katharina Friz
  17. Nuclear Power in the Twenty-first Century (Part II) - The Economic Value of Plutonium By Christian von Hirschhausen
  18. Reducing Dollarization in the Caucasus and Central Asia By Mr. Selim Cakir; Maria Atamanchuk; Nathalie Reyes; Mazin Al Riyami; Nia Sharashidze
  19. Zu den Wirtschaftssanktionen gegenüber Russland By Gern, Klaus-Jürgen; Kamin, Katrin

  1. By: Simola, Heli
    Abstract: This brief examines the development of Russia's trade flows in the March-June period following Russia's invasion of Ukraine. Russia ceased publication of foreign trade statistics after the war broke out, so we utilize the trade statistics of Russia's major trading partners. We find that Russia's imports declined substantially in the period with the country struggling to find alternative import sources. On the other hand, Russian export revenues increased post-invasion due to high commodity prices, the lag in transition periods for EU import restrictions and higher export volumes going to other markets. Russian industrial output reflects a shift in foreign trade. High-tech industries reliant on imported inputs contracted, while output remained robust for some export-oriented industries. The first months of war show sanctions took an increasing toll on the Russian economy, seriously eroding the country's long-term growth potential.
    Keywords: Russia,trade,sanctions
    Date: 2022
  2. By: Jerg Gutman; Hans Pitlik; Andrea Fronaschütz; Jerg Gutmann
    Abstract: The Russian invasion of Ukraine has caused disruptions in international trade and highlighted the dependency of small open economies in Europe on imports, especially of energy. These events may have changed Europeans’ attitude towards globalization. We study two waves of representative population surveys conducted in Austria, one right before the Russian invasion and the other two months later. Our unique dataset allows us to assess changes in the Austrian public’s attitudes towards globalization and import dependency as a short-term reaction to economic turbulences and geopolitical upheaval at the onset of war in Europe. We show that two months after the invasion, anti-globalization sentiment in general has not spread, but that people have become more concerned about strategic external dependencies, especially in energy imports, suggesting that citizens’ attitudes regarding globalization are differentiated.
    Keywords: Austria, crisis, conflict, globalization attitudes, war
    JEL: F13 F51 F52 N40
    Date: 2022
  3. By: Marcus Noland (Peterson Institute for International Economics)
    Abstract: North Korea is a complex humanitarian emergency with food insecurity at its core. As of August 2022, both quantity and price data point to a deteriorating situation, made worse by the regime's self-isolating response to the COVID-19 pandemic and the war in Ukraine. Food availability has likely fallen below minimum human needs and on one metric is the worst since the 1990s famine. Food insecurity in North Korea is not only a humanitarian issue but also a strategic one. In this context, the diplomatic leverage conferred by aid is unclear, nor is North Korea's priority as a recipient, in light of competing needs elsewhere. Resolution of North Korea's chronic food insecurity would require changes in the regime's domestic and foreign policy commitments, but this seems unlikely due to enablement by China and Russia.
    Keywords: famine, food security, food prices, North Korea, complex humanitarian emergency
    JEL: Q1 O1 P2
    Date: 2022–09
  4. By: Sébastien Gadal (ESPACE - Études des Structures, des Processus d’Adaptation et des Changements de l’Espace - UNS - Université Nice Sophia Antipolis (1965 - 2019) - COMUE UCA - COMUE Université Côte d'Azur (2015-2019) - AU - Avignon Université - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique - UCA - Université Côte d'Azur, North-Eastern Federal University); Moisei Ivanovich Zakharov (ESPACE - Études des Structures, des Processus d’Adaptation et des Changements de l’Espace - UNS - Université Nice Sophia Antipolis (1965 - 2019) - COMUE UCA - COMUE Université Côte d'Azur (2015-2019) - AU - Avignon Université - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique - UCA - Université Côte d'Azur, North-Eastern Federal University); Jūratė Kamičaitytė (KTU - Kaunas University of Technology)
    Abstract: For the past ten years, energy issues – alongside the policies implemented to address them – have once again been at the heart of development issues in the Arctic and circumpolar regions. The reasons for this situation are based on the intensification of the exploitation of natural resources, for which the impacts of climate change (warming) are perceived as opportunities, thereby accelerating economic development and the reterritorialization of the Arctic space. The policies linked to the energy transition are driven by both ecology and the need to have autonomous production unit grids reinforcing the interrelations between territorial development and energy. Energy production units – whether wind, solar, gas, coal, nuclear, or sometimes hydroelectric – are key drivers of economic development in the Arctic and circumpolar space, determining the exploitation of future natural resources and human security. Without energy planning, there can be no economic growth, no human development, and no territorial development. Energy safety is fundamental for the territorial development of the Russian Arctic. The analysis of the Russian Arctic space by remote sensing shows intense urbanization processes accompanying the exploitation of natural resources.
    Keywords: Urbanisation,Energy,Territorial development,Arctic,Russian Federation
    Date: 2022
  5. By: Агамбаева Саида // Agambayeva Saida (National Bank of Kazakhstan); Конурбаева Наталья // Konurbayeva Natalya (National Bank of Kazakhstan)
    Abstract: Имеющийся в литературе опыт изучения инфляционных ожиданий свидетельствует о гетерогенности их формирования у разных агентов. В данной работе мы исследуем, связана ли эта неоднородность с различиями в уровне финансовой грамотности домашних хозяйств. Используя микроданные опросов по инфляционным ожиданиям казахстанских домашних хозяйств, мы построили индикатор «финансовой грамотности». Согласно полученным результатам, данный индикатор помогает объяснить уровень инфляционных ожиданий: респонденты с относительно более высоким уровнем финансовой грамотности, как правило, имеют относительно более низкие и более точные инфляционные ожидания.
    Keywords: инфляционные ожидания, финансовая грамотность, опросы домохозяйств, inflation expectations, financial literacy, household survey
    JEL: E31 E42 E58 D84 E71
    Date: 2022
  6. By: Mariia Murasheva; Maria A. Cunha-e-Sa
    Abstract: The effect of individual-level daily silicon dust exposure from cement production on the probability of hospital admissions for respiratory-related reasons is examined. The dataset was collected at the cement plant in Bryanskii region, Russia. We use an aerodynamic dispersion model to calculate pollutants’ exposure. We find significant impact of silicon dust on hospitalizations for children and elderly adults. We identify a non-linear response of the individual probability of hospital admissions to the average daily inhaled concentrations in the city area where exposure is higher. Our findings contribute to better inform policymakers aiming at reducing industrial air pollution exposure in Russia.
    Keywords: Ambient air pollution, Silicon dust exposure, High-frequency, Patient-level data, Dispersion model, Hospital admissions, Nonlinearity
    JEL: I10 Q51 Q53
    Date: 2022
  7. By: Boysen-Hogrefe, Jens; Gern, Klaus-Jürgen; Groll, Dominik; Hoffmann, Timo; Jannsen, Nils; Kooths, Stefan; Meuchelböck, Saskia; Reents, Jan; Sonnenberg, Nils; Stolzenburg, Ulrich
    Abstract: Der Wachstumspfad der deutschen Wirtschaft flacht sich weiter ab. Am Ende des Projektionszeitraums im Jahr 2027 dürfte das Wachstum des Produktionspotenzials nur noch knapp 0,7 Prozent betragen. Damit würde es sich gegenüber seinem Zwischenhoch im Jahre 2017 halbieren. Hauptgrund ist der demografische Wandel. Zudem belasten mittelfristig höhere Energie- und Rohstoffpreise das Potenzial. Die gesamtwirtschaftlichen Kapazitäten dürften so lange wie noch nie zuvor im wiedervereinigten Deutschland unterausgelastet sein. Maßgeblich sind die zwei in rascher Folge aufgetretene Krisen - die Pandemie und der Krieg in der Ukraine.
    Keywords: Produktionslücke,Produktionspotenzial,Mittelfristprojektion,Totale Faktorproduktivität,Konjunktur Deutschland,Fiskalpolitik & Haushalt,Wachstum,Arbeitsmarkt
    Date: 2022
  8. By: Gartner, Hermann (Institute for Employment Research (IAB), Nuremberg, Germany); Hellwagner, Timon (Institute for Employment Research (IAB), Nuremberg, Germany); Hummel, Markus (Institute for Employment Research (IAB), Nuremberg, Germany); Hutter, Christian (Institute for Employment Research (IAB), Nuremberg, Germany); Wanger, Susanne (Institute for Employment Research (IAB), Nuremberg, Germany); Weber, Enzo (Institute for Employment Research (IAB), Nuremberg, Germany ; Univ. Regensburg); Zika, Gerd (Institute for Employment Research (IAB), Nuremberg, Germany)
    Abstract: "Der Krieg Russlands gegen die Ukraine hat den Wirtschaftsaufschwung in Deutschland jäh beendet. Der Arbeitskräftebedarf liegt auf Rekordniveau, aber die Herausforderungen für den Arbeitsmarkt nehmen zu. Der Kurzbericht gibt einen Ausblick auf die Entwicklung in den Jahren 2022 und 2023." (Autorenreferat, IAB-Doku)
    Keywords: IAB-Open-Access-Publikation
    Date: 2022–09–23
  9. By: Mats Kröger; Maximilian Longmuir; Karsten Neuhoff; Franziska Schütze
    Abstract: Natural gas prices in Germany saw a strong increase at the end of 2021, subsequently worsening with the start of the war in Ukraine in February 2022, raising concerns about the distributional consequences. Our study shows that low-income households are affected the most by the natural gas price increase. Low-income households pay at the median 11.70 percent of their equivalent income on gas bills, compared to 6.21 percent in 2020. Contrarily, high-income households pay at the median 2.41 percent, compared to 1.52 in 2020. Natural gas expenditures are higher for tenants in detached houses and in houses with no double glassing or thermal insulation. Our policy analysis builds on an exploration of new energy expenditure data in 2020 provided by the German Socio-Economic Panel, and shows that a well-targeted subsidy scheme can be more effective for reducing inequality and less costly than a subsidy for all households. Additionally, the introduction of a minimum energy-efficiency standard for buildings can help reduce inequality in the medium-term.
    Keywords: Natural gas prices, income distribution, energy efficiency, building retrofit
    JEL: D30 Q41 I38
    Date: 2022
  10. By: Newman, Susan; Van Huellen, Sophie
    Abstract: Dependence on agro-commodity exports amongst low-income economies mean that they are uniquely vulnerable to balance of payment shocks. They are often also dependent on the imports of food crops and energy, resulting in a double burden in the post-COVID-19 period. In this paper, we review new and old theories of price formation in order to problematise price behaviour from the perspective of commodity dependent economies in the global South. In particular, we highlight the challenges of and imperative for macro-economic management and recent changes in commodity markets (namely financialization and supply chain restructuring) that must inform ways of managing price dynamics and mitigating implications for commodity dependent economies in light of the COVID-19 crisis and the war in Ukraine.
    Keywords: Commodity Prices,Commodity Dependence,Price Behaviour,Financialisation,COVID-19,Macroeconomic Management
    Date: 2022
  11. By: Boysen-Hogrefe, Jens; Groll, Dominik; Hoffmann, Timo; Jannsen, Nils; Kooths, Stefan; Meuchelböck, Saskia; Sonnenberg, Nils
    Abstract: Die deutsche Wirtschaft befindet sich im Abwärtssog. Die jüngsten Preissprünge bei Strom und Gas werden die Kaufkraft der privaten Haushalte spürbar verringern und zu einem Rückgang der privaten Konsumausgaben führen. Zudem werden die seit dem Sommer weltweit eingetrübten wirtschaftlichen Aussichten nicht nur die Exporte, sondern auch die Investitionstätigkeit merklich dämpfen. Im Ergebnis wird die deutsche Wirtschaft erneut in eine Rezession abgleiten, in einer Phase, in der sie sich gerade von den pandemiebedingten Rückschlägen erholte. In unserer Sommerprognose waren wir noch davon ausgegangen, dass die Auftriebskräfte trotz der Belastungen durch den Krieg in der Ukraine überwiegen würden und das Bruttoinlandsprodukt kräftig steigen würde. Nun rechnen wir für das laufende Jahr nur noch mit einem Anstieg des Bruttoinlandsprodukts um 1,4 Prozent (Sommerprognose: 2,1 Prozent). Im kommenden Jahr dürfte es sogar um 0,7 Prozent zurückgehen (Sommerprognose: +3,3 Prozent). Im Jahr 2024, wenn die belastenden Faktoren an Wirkung verlieren, wird das Bruttoinlandsprodukt wohl um 1,7 Prozent steigen. Sofern die Preise für Strom und Gas für längere Zeit hoch bleiben - so wie es sich derzeit abzeichnet - wird die Inflation ausgehend von ihrem Rekordniveau von 8 Prozent im laufenden Jahr voraussichtlich auf 8,7 Prozent im Jahr 2023 steigen, da die Marktpreise für Strom und Gas die Verbraucherpreise erst mit einiger Verzögerung erreichen. Erst im Jahr 2024, wenn die Energiepreise wieder nachgeben, dürfte sich die Inflation deutlich beruhigen. Die Rezession wird auch Spuren am Arbeitsmarkt hinterlassen. Aufgrund des Fachkräftemangels dürften sie jedoch vergleichsweise gering ausfallen. Die Arbeitslosenquote steigt von 5,3 Prozent im laufenden Jahr auf 5,6 Prozent im kommenden Jahr. Trotz erheblicher Mehrausgaben für das Abfedern der hohen Energiepreise wird sich der Finanzierungssaldo des Staates voraussichtlich kaum verschlechtern, da der hohe Preisauftrieb für Mehreinnahmen sorgt. Der Bruttoschuldenstand in Relation zum nominalen Bruttoinlandsprodukt dürfte sogar von 68,7 Prozent im Jahr 2021 auf 64,6 Prozent im Jahr 2024 zurückgehen, da das nominale Bruttoinlandsprodukt aufgrund des insgesamt hohen Preisauftriebs kräftig steigen wird.
    Keywords: Konjunkturprognose,Stabilisierungspolitik,Frühindikatoren,Ausblick,Kojunktur Deutschland,Fiskalpolitik & Haushalt,Arbeitsmarkt
    Date: 2022
  12. By: International Monetary Fund
    Abstract: Liberia is a fragile, low-income country. Per-capita income remains about a third of the level prior to the civil wars during 1989-2003. After a bout of economic instability, prudent monetary and fiscal policies reduced inflation to just over 5 percent in 2021 and budgets are financed without recourse to central bank credit. Economic growth suffered first from macroeconomic instability and then from the COVID-19 pandemic. Growth rebounded to 5 percent in 2021 and, after a soft patch this year due to Russia’s war in Ukraine, should reach 5-6 percent in the medium term if Liberia taps its clear potential through persistent structural reforms and prudent policies. The government’s resolve will be tested in the runup to the general elections in September 2023.
    Date: 2022–09–14
  13. By: Klara Zalesakova (Department of Statistics and Operation Analysis, Faculty of Business and Economics, Mendel University in Brno, Zemedelska 1, 613 00 Brno, Czech Republic)
    Abstract: This paper deals with the verification of the assumption of forecasting ability of stock indices in the BRICS countries. The literature review focuses on the definition of the financial and stock markets, measuring the economic performance and the interdependence of stock markets and economic growth. The analytical part is based on time series of GDP and stock indices of the BRICS countries, which are processed using correlation analysis, VAR models and Granger causality test, which is used to determine the existence and possible direction and strength of the causal relationship between the variables. The results show that the role of stock indices as a leading economic indicator is overestimated. However, GDP and stock indices interact, the strength and direction of causal relationships is affected by number of factors.
    Keywords: BRICS, stock market, stock index, economic growth, GDP, correlation analysis, VAR model, causality, Granger test causality
    JEL: C32 E44 F43 H54
    Date: 2022–09
  14. By: International Monetary Fund
    Abstract: Despite continuing challenges from the COVID-19 pandemic and new risks emanating from global uncertainties, a combination of sound policy measures and a resolute vaccination program have supported a gradual return to normality and underpin a rebound in economic activities. External imbalances remain contained, and fiscal consolidation is underway as the authorities are adhering to the fiscal rule, which ensures a declining path for the public debt to GDP ratio. While the outlook is favorable, it remains subject to elevated risks, including global uncertainties arising from the war in Ukraine, faster-than-expected US monetary tightening, tighter global financial conditions, higher crude oil prices, and new variants of the COVID-19 virus that may derail the recovery. Domestic risks include significant delays in implementing the FATF action plan to exit the grey list.
    Keywords: PLL qualification criteria; sound policy; Banco Nacional de Panamá; PLL review; PLL equivalent; Anti-money laundering and combating the financing of terrorism (AML/CFT); Credit; Global
    Date: 2022–08–22
  15. By: Boysen-Hogrefe, Jens; Groll, Dominik; Kooths, Stefan; Sonnenberg, Nils; Stolzenburg, Ulrich
    Abstract: Der Euroraum steuert auf eine Rezession zu. Zwar konnte die Erholung von den wirtschaftlichen Beeinträchtigungen der Corona-Pandemie bis zur Jahresmitte 2022 trotz des Ukraine-Krieges zunächst fortgesetzt werden. Der anhaltende Energiepreisschock und Gegenwind aus dem weltwirtschaftlichen Umfeld lassen für die bevorstehenden Quartale jedoch eine ausgeprägte konjunkturelle Schwächephase erwarten. Frühindikatoren zur Zuversicht von Unternehmen und insbesondere von Verbrauchern zeigten zuletzt eine markante Verschlechterung der Stimmungslage an. Die Inflation dürfte noch einige Zeit hoch bleiben, so dass Kaufkraft bei Unternehmen und Haushalten gemindert wird und dadurch der reale private Konsum erheblich belastet wird. Somit wird die gesamtwirtschaftliche Produktion wohl für einige Quartale leicht schrumpfen. Im Verlauf des Jahres 2023 dürfte dieser Abwärtstrend allmählich drehen, sofern die Energiepreise ausgehend von ihren aktuell sehr hohen Niveaus wieder etwas sinken. In der Folge dürfte sich der private Verbrauch stabilisieren und nach und nach zu einer wenn auch nur mäßigen Expansion der gesamtwirtschaftlichen Produktion beitragen. Die Erholung dürfte im weiteren Verlauf des Prognosezeitraums - auch gestützt durch eine Belebung der Auslandsnachfrage - noch etwas an Fahrt aufnehmen. Insgesamt dürfte das Bruttoinlandsprodukt im laufenden Jahr wohl um 3 Prozent steigen, im Jahr 2023 nahezu stagnieren und anschließend wieder moderat um 1,6 Prozent zulegen (2024). Die Verbraucherpreise steigen im Durchschnitt des laufenden Jahres voraussichtlich um 8,1 Prozent und damit so stark wie nie zuvor seit Bestehen der Währungsunion. Im Folgejahr wird die Teuerungsrate mit 7,2 Prozent wohl erneut sehr hoch liegen, im Jahr 2024 aber wieder moderater ausfallen.
    Keywords: Euroraum,Europäische Währungsunion,Frühindikatoren,Fiskalpolitik,Produktionslückenschätzung,Konjunktur,Konjunktur Euro Raum,Europäische Union & Euro
    Date: 2022
  16. By: Katharina Friz
    Abstract: Environmental innovation (EI) plays an important role in decoupling economic growth and environmental harm. This paper focuses on the environmental innovation behavior of companies in transition countries of Eastern Europe and Central Asia, which have been little studied so far. These countries share the Soviet legacy of environmental mismanagement, and have restructured their innovation systems relatively recently in the course of transition. The EBRD-EIB-WB Enterprise Survey (2018-2020) allows us to examine the determinants of environmental innovation in 29 transition countries. Although the theory places a greater emphasis on external sources of knowledge in EI, the results indicate that collaborative R&D is still quite weak in these countries. Moreover, environmental regulation increases the likelihood of adopting energy efficiency measures, while customers demanding environmental standards increase the likelihood across all innovation activities, indicating an increasing sustainability awareness among consumers.
    Keywords: Environmental innovation, transition economies, firm-level data, logit model
    JEL: O12 O31 O32 O5 Q55
    Date: 2021–09
  17. By: Christian von Hirschhausen
    Abstract: Although plutonium has been studied by different disciplines (such as technology and innovation studies, political sciences) since its discovery, back in 1940 at the University of California (Berkeley), the resource and environmental economic literature is still relatively scarce; neither does the energy economic literature on nuclear power consider plutonium specifically, e.g. Davis (2012) or Lévêque (2014). However, interest in the topic is increasing, driven by a variety of factors: Thus, in the context of the low-carbon energy transformation and climate change mitigation, interest in non-light-water nuclear technology, including so-called “Generation IV” fast neutron reactor concepts and SMR (“small modular reactors”) non-light-water reactor concepts, supposedly to become competitive in some near time span, is rising, not only in Russia and China, but also in the US, Japan, Korea, and Europe (IAEA 2018; MIT 2018; Zhang 2020; Murakami 2021). This paper provides a review of resource and environmental economic issues related to plutonium, and presents insights from ongoing research. In particular, we ask whether after decades of unsuccessful attempts to use plutonium for electricity generation, resource and energy economic conditions have changed sufficiently to reverse this result. In the analytical framework, we explore determinants of the value of plutonium, by comparing it with the economics of the dominant nuclear energy, the light-water reactor (LWR) using a once-through fuel process. Three questions emerge and are addressed subsequently: i/ Can plutonium benefit from shortages and binding constraints on uranium supply for light-water nuclear power plants?; ii/ can future nuclear reactors developments become competitive through standardized mass production (“SMR”-reactors); and iii/ can plutonium be efficiently abated? The paper concludes that there are no indications of more favorable economic conditions for the commercial deployment of plutonium.
    Keywords: Nuclear power, uranium, plutonium, resources, economics, technology, innovation
    JEL: O33 Q53 Q47 L97
    Date: 2022
  18. By: Mr. Selim Cakir; Maria Atamanchuk; Nathalie Reyes; Mazin Al Riyami; Nia Sharashidze
    Abstract: Declining but still high dollarization rates in the Caucasus and Central Asia (CCA) region affect macroeconomic stability, monetary policy transmission, and financial sector development. Although several studies have investigated the dynamics of dollarization in the CCA, the relative roles of macrofinancial policies and financial market development in the de-dollarization process have not yet been assessed empirically. This paper takes stock of de-dollarization efforts and explores the short-term drivers of financial de‐dollarization in the CCA region. It highlights that there remains significant scope to further reduce dollarization through continued progress in strengthening macroeconomic policy frameworks and in developing markets and institutions.
    Keywords: Dollarization; Foreign Currency; Foreign Exchange;FX; Monetary Policy; Central Asia; Caucasus; CCA.; deposit dollarization; De-dollarization policy; credit dollarization; dollarization to a shock; dollarization in the CCA region; Currencies; Credit; De-dollarization; Central Asia and the Caucasus; rates in the Caucasus and Central Asia; dollarization to issuance; Reserve requirements
    Date: 2022–07–29
  19. By: Gern, Klaus-Jürgen; Kamin, Katrin
    Abstract: Sanktionen zielen in der Regel darauf ab, das Verhalten des sanktionierten Landes zu ändern. Die Ziele von Sanktionen reichen von der Beilegung von (gewaltsamen) Konflikten, Vermeidung von Menschenrechtsverletzungen, der Förderung von Demokratisierung und Nichtverbreitung bis hin zu handels- oder industriepolitischen Fragen. Politisch gesehen können Sanktionen Regierungen stabilisieren oder destabilisieren, zu Machtverschiebungen innerhalb von Ländern führen und die politischen Beziehungen zwischen dem sanktionierenden Land und dem Zielland der Sanktion verändern.
    Keywords: Konjunktur,Konjunktur Welt
    Date: 2022

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