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on Transition Economics |
| By: | Zbigniew Polanski (Narodowy Bank Polski and Warsaw School of Economics, ul. Swietokrzyska 11/21, 00-919 Warsaw, Poland.); Adalbert Winkler (Frankfurt School of Finance and Management, Sonnemannstrasse 9-11, 60314 Frankfurt am Main, Germany.) |
| Abstract: | This paper reviews selected aspects of economic relations between the EU and Russia, focusing on the impact that the last two waves of EU enlargement have had on Russia, as well as the role of the euro in Russia. The analysis suggests that if EU enlargement has had any diversion effects on trade between the EU and Russia at all, they have been minimal, while robust growth in both the EU and Russia, as well as high oil and gas prices, has boosted trade. Likewise, FDI to and from Russia has increased, with the direct impact of enlargement again difficult to disentangle from other factors. Use of the euro by Russian residents and authorities in international transactions has increased, albeit at an uneven pace. While, in general, the US dollar remains the major foreign currency used by Russian residents, the euro has gained importance as an anchor and reserve currency in Russian exchange rate policies. This has happened in the context of an overall monetary policy strategy aiming at a gradual shift from an exchange rate-oriented monetary policy to inflation targeting. JEL Classification: F14, F15, F21, F36. |
| Keywords: | Economic integration, trade diversion, foreign direct investment, international currencies. |
| Date: | 2008–08 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbops:20080093&r=tra |
| By: | Jean-Pierre Cling (DIAL); Mohamed Ali Marouani (Université Paris1-Sorbonne/IEDES, DIAL et ERF); Mireille Razafindrakoto (DIAL, IRD, Paris); Anne-Sophie Robilliard (DIAL, IRD, Paris); François Roubaud (DIAL, IRD, Paris) |
| Abstract: | (english) The strong growth of the Vietnamese economy over the last two decades has brought about sweeping economic and social changes. In particular, there has been a sharp downturn in poverty along with an upturn in social inequalities (albeit not as sharp as in China). This makes the question of the distributional impact of the country’s WTO accession (January 2007) a particularly keen one. The first simulations made using our micro-simulation model point to mainly four types of redistributive effects induced by WTO membership: job gains (especially industrial jobs), growth in real wages, reduction in gender inequalities, and increase in inequalities between rural and urban areas (but slight drop in overall inequalities). Our findings demonstrate the importance of flanking measures to accompany WTO accession and making the most the opportunities that arise, especially in the area of training, domestic migration, regional policies and assistance to wage earners affected by restructuring. _________________________________ (français) La forte croissance de l’économie vietnamienne au cours des deux dernières décennies s’est accompagnée de profondes transformations économiques et sociales. En particulier, on a observé une forte réduction de la pauvreté, accompagnée d’une progression des inégalités sociales (quoique moins accentuée qu’en Chine). Dans ce contexte, la question de l’impact distributif de l’adhésion à l’OMC intervenue en janvier 2007 se pose avec acuité. Les premières simulations effectuées à l’aide de notre modèle de micro-simulation comptable indiquent que l’adhésion à l’OMC aura principalement quatre types d’effets redistributifs : gains d’emplois (en particulier industriels) ; croissance des salaires réels ; réduction des inégalités de genre ; progression des inégalités entre zones rurales/urbaines (mais tassement des inégalités globales). Nos résultats montrent l’importance de prendre des mesures pour accompagner l’entrée à l’OMC et saisir les opportunités offertes, en particulier dans le domaine de la formation, des migrations internes, des politiques régionales et de l’aide aux salariés touchés par les restructurations. |
| Keywords: | International Trade; WTO; Labour; Inequalities; Vietnam, Commerce international; OMC; Emploi; Inégalités; Vietnam. |
| JEL: | F16 |
| Date: | 2008–08 |
| URL: | http://d.repec.org/n?u=RePEc:dia:wpaper:dt200803&r=tra |
| By: | Alain de Serres |
| Abstract: | The Polish tax system is characterised by high social security contributions for both employers and employees. As a result, Poland has one of the highest tax wedges in the OECD, despite relatively low personal income tax rates. This, combined with a relatively high minimum wage and generous early-retirement and disability benefit programmes, contributes to low employment rates, in particular among low-skilled workers. The system also relies heavily on consumption taxes, whereas relatively little revenue is collected from such bases as environment externalities, inheritances and, in particular, property. One of the key implications of the tax structure is that the system as a whole is one of the least redistributive among OECD countries. This paper reviews the main features of the tax system and explores options to improve its efficiency, including possibilities to broaden existing tax bases as well as to shift the tax burden from labour towards less mobile and distorting sources such as property. <P>Réformer le système fiscal polonais afin d’améliorer son efficience <BR>Le système fiscal polonais se caractérise par des cotisations patronales et salariales de sécurité sociale élevées. Par conséquent, la Pologne compte l’un des coins fiscaux les plus élevés de l’OCDE, malgré des taux de l’impôt sur le revenu des personnes physiques relativement bas. Cette situation, associée à un salaire minimum relativement conséquent et à des indemnités généreuses de retraite anticipée et d’invalidité, contribue à la faiblesse des taux d’emploi, surtout parmi les travailleurs peu qualifiés. Par ailleurs, le système s’appuie massivement sur les impôts sur la consommation, tandis que les recettes provenant d’autres sources telles que les taxes sur les produits polluants, les droits de mutation et surtout les impôts fonciers sont relativement minimes. L’une des principales conséquences de cette structure fiscale est que le système est, dans son ensemble, l’un des moins redistributifs parmi les pays de l’OCDE. Cette étude examine les principales caractéristiques du régime fiscal polonais et envisage différentes solutions pour améliorer son efficience, comme l’élargissement des assiettes d’imposition existantes et le transfert de la charge fiscale du travail vers des sources moins mobiles et entraînant moins de distorsions, telles l’immobilier. |
| Keywords: | taxation, fiscalité, tax reform, impôt sur le revenu, property tax, taxe foncière, TVA, labour tax wedge, VAT, personal income tax, corporate income tax, polish tax system, réforme de la taxation, coin fiscal, impôt sur les profits, système de taxation polonais |
| JEL: | H20 H22 H23 H24 H25 |
| Date: | 2008–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:630-en&r=tra |