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on Central and Western Asia |
| By: | International Monetary Fund. European Dept. |
| Keywords: | Monetary policy;Banking sector;Foreign exchange reserves;Inflation targeting;Current account deficits;Savings;Macroprudential Policy;Selected Issues Papers;Turkey; |
| Date: | 2014–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:14/330&r=cwa |
| By: | Harald Schmidbauer; Narod Erkol |
| Abstract: | One of the advantages to analyze the economic links between two countries on the basis of stock market data, rather than aggregate economic data published by national statistical offices, is that stock market data are readily available, allowing analysis in almost real time. We consider a directed network with equity markets as nodes and return-to-volatility spillovers, obtained via forecast error variance decomposition (fevd), indicating the weights of the edges. In the course of globalization, it can be generally observed that the share of volatility originating from outside a local stock market has been gradually decreasing. This is also the case for Indonesia and Turkey. We show that the link of Indonesia to Turkey has recently become more important, that is, spillovers from the Indonesian to the Turkish stock market have increased, but not in the opposite direction. Using notions related to network centrality and information entropy, we also identify political and economic events having a big impact on the distribution of stock market volatility in Indonesia and Turkey. |
| Keywords: | Indonesia, Turkey (and other stock markets), Finance, Developing countries |
| Date: | 2014–07–03 |
| URL: | http://d.repec.org/n?u=RePEc:ekd:006356:7185&r=cwa |
| By: | Anton K. Alexeev (National Research University Higher School of Economics) |
| Abstract: | This paper analyzes the Shia-Sunni interactions in northeastern Iran (Khorasan) and Central Asia. The Shia-Sunni disputes in the region date back to the Middle Ages after the establishment of the Safavids (1501 – 1722) in Iran and the Shibanids (1501 – 1601) in Mawara al-nahr at the beginning of the 16th century. This paper, based on narrative sources, attempts to find the true reasons of this phenomenon and to estimate its influence on history and the future of the region. An overview of both the Sunni and Shi’ite religious community status in Iran, in Mawara al-Nahr, has become particularly important when discussing this issue. |
| Keywords: | Shia, Sunni, Central Asia, Iran |
| JEL: | Z |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:75hum2014&r=cwa |
| By: | World Bank |
| Keywords: | Public Sector Corruption and Anticorruption Measures Public Sector Expenditure Policy Finance and Financial Sector Development - Debt Markets Public Sector Economics Macroeconomics and Economic Growth - Subnational Economic Development Public Sector Development |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:20755&r=cwa |
| By: | Giovanni Andrea Cornia (Dipartimento di Scienze per l'Economia e l'Impresa) |
| Abstract: | Uzbekistan became independent in September 1991 following the breakup of the Soviet Union. The country followed an heterodox approach to macroeconomic stabilization and the transition to the market economy which reduced the depth of the transitional recession experienced by most former socialist countries of Eastern Europe and Former Soviet Union. The development strategy it followed between 1995 and 2005 relied mainly on a state-coordinated exploitation of its land, water and mineral resources. Despite sustained growth and some structural transformation, such approach generated a limited number of formal sector jobs due to its high capital-, resource-, and energy- intensity. While poverty declined, the poverty alleviation elasticity of growth remained modest. Two years ago, the country launched the ambitious ‘Uzbekistan Vision 2030’ which aims at reaching by that year the status of upper-middle-income country. In this regard, this paper assesses in detail the achievements and limitations of the policy model adopted till 2012 and proposes two alternative development strategies to reach the targets set by the country’s authorities for 2030. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:frz:wpaper:wp2014_26.rdf&r=cwa |
| By: | World Bank |
| Keywords: | Public Sector Expenditure Policy Banks and Banking Reform Finance and Financial Sector Development - Debt Markets Public Sector Economics Governance - National Governance Public Sector Development |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:20749&r=cwa |
| By: | World Bank |
| Keywords: | Access and Equity in Basic Education Teaching and Learning Education - Education For All Education - Primary Education Tertiary Education |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:20770&r=cwa |
| By: | Kenneth Fortson; Anu Rangarajan; Randall Blair; Joanne Lee; Valentine Gilbert |
| Abstract: | This report evaluates four components of an agricultural intervention in Armenia, the Water-to-Market Activity. It assesses on-farm water management, high-value agriculture training, credit to qualifying farmers, institutional training, and post-harvest processing and marketing. |
| Keywords: | Water to Market Armenia International |
| JEL: | F Z |
| Date: | 2013–03–08 |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:c002cdd97cd845d0b4d065ad502eacd3&r=cwa |
| By: | International Monetary Fund. Monetary and Capital Markets Department |
| Keywords: | Financial system stability assessment;Financial sector;Commercial banks;Bank resolution;Deposit insurance;Bank supervision;Stress testing;Capital markets;Insurance;Reports on the Observance of Standards and Codes;Georgia; |
| Date: | 2014–12–19 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:14/355&r=cwa |
| By: | Lasha Lanchava |
| Abstract: | In response to the problem of shrinking birthrates in the country, in October 2007, the head of the Georgian Orthodox church announced that he would personally baptize any third and further baby born to Orthodox families from that time. This study uses the initiative as a natural experiment to explore the economic consequences of religious activity. This analysis uses individual level survey data from the Caucasus Resource Research Center (CRRC) Georgia on fertility before and after the initiative for Orthodox Christians (treatment group) and Non- Orthodox Christians (control group) population to identify the effect of the church leader’s promise on birth rates. Difference-in-differences estimation procedure is employed to examine the potential causal effect. This analysis does not find evidence that the church initiative had an effect on fertility. |
| Keywords: | fertility; religion; Christianity; Difference-in-Differences; panel data; |
| JEL: | J13 Z12 C13 |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:cer:papers:wp521&r=cwa |