nep-tra New Economics Papers
on Transition Economics
Issue of 2018‒06‒11
twenty-two papers chosen by
J. David Brown
United States Census Bureau

  1. On the fairness and the redistributive effects of PIT in Central and Eastern European countries By Stoian, Andreea; Vintila, Nicoleta; Tatu, Lucian; Miricescu, Emilian
  2. Foreign Capital and Domestic Productivity in the Czech Republic By Mojmir Hampl; Tomas Havranek
  3. China-Bulgaria Rural Revitalization Development Cooperation Forum By Bachev, Hrabrin; Ivanov, Bojidar; Terziev, Dimitar; Toteva, Dessislava; Che, Shengquan; Koleva, Lyubka
  4. Just Like A Woman? New Comparative Evidence on the Gender Income Gap across Eastern Europe and Central Asia By Blunch, Niels-Hugo
  5. Declines due to Disinvestment By Gabor Hunya; Monika Schwarzhappel
  6. Insurance Plus Futures: Agricultural Commodity Price Reform in China By Tristan Kenderdine
  7. The “Belt and Road Initiative†and comparative regional productivity in China By John Gibson and Chao Li
  8. Economic Policy Implications of the Belt and Road Initiative for CESEE and Austria By Alexandra Bykova; Mahdi Ghodsi; Julia Grübler; Doris Hanzl-Weiss; Mario Holzner; Gabor Hunya; Robert Stehrer
  9. Going Public in China: Reverse Mergers versus IPOs By Lee, Charles M. C.; Qu, Yuanyu; Shen, Tao
  10. The Concept of ‘Community of Common Destiny’ in China's Diplomacy: Meaning, Motives and Implications By Denghua Zhang
  11. How Does China–Pakistan Economic Corridor Show the Limitations of China's ‘One Belt One Road’ Model By Abdur Rehman Shah
  12. The challenge of improving efficiency of Soum Health Centers in Mongolia By Martine AUDIBERT; Marlène GUILLON; Jacky MATHONNAT
  13. Integration of the Second Generation of Migrants Aged 18-30 in Russia: The Results of the Pilot Survey By Varshaver, Evgeniy; Rocheva, Anna; Ivanova, Nataliya
  14. Systemic Risk and Financial Fragility in the Chinese Economy: A Dynamic Factor Model Approach By Alexey Vasilenko
  15. Do Social Medical Insurance Schemes Improve Children's Health in China? By J. Guan; JdD Tena
  16. Trade Policies and Integration of the Western Balkans By Oliver Reiter; Robert Stehrer
  17. Montenegro; 2018 Article IV Consultation-Press Release and Staff Report By International Monetary Fund
  18. Long-run effects of family policies: An experimental study of the Chinese one-child policy By Carlsson, Fredrik; Lampi, Elina; Martinsson, Peter; Tu, Qin; Yang, Xiaojun
  19. Spillovers from Euro Area Monetary Policy: A Focus on Emerging Europe By Sona Benecka; Ludmila Fadejeva; Martin Feldkircher
  20. Measuring the Redistributive Effects of China's Personal Income Tax By Li Du and Zhongxiang Zhang
  21. Albania; 2018 First Post-Program Monitoring Discussions-Press Release and Staff Report By International Monetary Fund
  22. Development of Methodology for Stimulating Tariff Regulation of Distribution Electric Grid Companies Based on Benchmarking of Unit Cost of Services By Suyunchev, Marat; Repetyuk, Sergei; Temnaya, Olga

  1. By: Stoian, Andreea; Vintila, Nicoleta; Tatu, Lucian; Miricescu, Emilian
    Abstract: The aim of this paper is to investigate the fairness and the redistributive effects of personal income tax (PIT) in seven Central and Eastern European countries, namely: Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania and Romania. Following Kakwani and Lambert (1998) methodology, we test tax equity and progressivity. We study the asymmetry of salary income distribution in order to examine the horizontal equity among individuals in the same group. We calculate the Gini coefficients in order to investigate the redistributive effects of PIT regulatory frameworks. We find that tax equity is fulfilled by all countries. However, PIT regulations does not allow for strong progressivity and for redistributive effects.
    Keywords: horizontal equity; vertical equity; personal income tax; income distribution; inequality; Gini; Central and Eastern European
    JEL: H2 H24
    Date: 2018–03
  2. By: Mojmir Hampl (Czech National Bank, Na prikope 28, 115 03 Prague 1, Czech Republic); Tomas Havranek (Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Smetanovo nabrezi 6, 111 01 Prague 1, Czech Republic; Czech National Bank, Na prikope 28, 115 03 Prague 1, Czech Republic)
    Abstract: In this paper we take stock of the evidence concerning the effect of foreign direct investment (FDI) on the productivity of locally owned firms in the Czech Republic. To this end, we collect 332 estimates previously reported in journal articles, working papers, and PhD theses. We find that the mean reported externality arising for domestic firms due to the presence of foreign firms (the “FDI spillover”) is zero. There is no evidence of publication bias, i.e., no sign of selective reporting of results that are statistically significant and show an intuitive sign. Nevertheless, we find that the overall spillover effect is positive and large when more weight is placed on estimates that conform to best-practice methodology. Our results suggest that, as of 2018, a 10-percentage-point increase in foreign presence is likely to lift the productivity of domestic firms by 11%. The effect is even larger for joint ventures, reaching 19%.
    Keywords: Foreign direct investment, productivity, spillovers, meta-analysis
    JEL: C83 F23
    Date: 2018–05
  3. By: Bachev, Hrabrin; Ivanov, Bojidar; Terziev, Dimitar; Toteva, Dessislava; Che, Shengquan; Koleva, Lyubka
    Abstract: Proceedings of China-Bulgaria Rural Revitalization Development Cooperation Forum, hold on 23 April, 2018, in Sofia. Chapters give a deep insights on diverse issues associated with agrarian and rural development in Bulgaria and China.
    Keywords: Rural development, agriculture, Bulgaria, China
    JEL: Q1 Q12 Q13 Q15 Q16 Q17 Q18
    Date: 2018–04–23
  4. By: Blunch, Niels-Hugo
    Abstract: I examine the incidence and determinants of the gender income gap in Kazakhstan, Macedonia, Moldova, Serbia, Tajikistan, and Ukraine using recent household data based on an identical survey instrument across countries. Four main results are established, using a range of estimators, including OLS, interval regression, and quantile regression: (1) the presence of a substantively large gender income gap (favoring males) in all six countries; (2) some evidence of a gender-related glass ceiling in some of these countries; (3) some evidence that endowments diminish the income gaps, while the returns to characteristics increase the gaps; and (4) while observed individual characteristics explain part of the gaps, a substantial part of the income gap is left unexplained. In sum, these results are consistent with the presence of income discrimination towards females but at the same time also point towards the importance of continued attention towards institutions and economic policy for decreasing the gender income gap in these former formally gender neutral economies — notably through attention towards the maternity and paternity leave system, as well as public provision of child care.
    Keywords: Gender,income gap,Oaxaca-Blinder decomposition,detailed decomposition,maternity/paternity leave policies,Eastern Europe and Central Asia
    JEL: J16 J31 J7
    Date: 2018
  5. By: Gabor Hunya (The Vienna Institute for International Economic Studies, wiiw); Monika Schwarzhappel (The Vienna Institute for International Economic Studies, wiiw)
    Abstract: This report presents and analyses the basic features of foreign direct investment (FDI) in Central, East and Southeast Europe (CESEE) as reported in the balance of payments, following the directional principle and the international investment position. The data reveal that FDI in the region fell by as much as 25% in 2017 against the previous year, and by 20% in the new EU Member States (EU-CEE). These developments are not in line with buoyant economic growth. It was not that surprising, however, as FDI inflow data have been volatile and not much correlated with the rate of economic growth in individual economies. Part of this volatility is caused by disinvestment – i.e. capital withdrawals by foreign investors – which account for a significant component of (net) FDI inflows in the Czech Republic, Hungary and Poland, where national capital took over foreign subsidiaries in banking, utilities and communications, often with government support. In 2017, for the third year in a row, CESEE received increased greenfield FDI commitments in terms of the number of projects (7.4%), while the amount of capital investment pledged fell only 26% short of the extraordinarily high level of 2016 (data based on In the EU‑CEE, greenfield investments rose both in terms of project numbers and capital investments. The biggest greenfield boom in 2017 was recorded in Poland, where FDI inflows reported in the balance of payments halved due to the domestic takeover of some assets, including a large bank. The strained labour market situation may hinder further FDI in the EU-CEE unless investors successfully cope with new challenges, such as immigrant workers, automation (which would trigger new investments) or moving further to the east (which might lead to a withdrawal of capital from existing locations). Relocation to the potentially promising neighbouring destination, Ukraine, is hampered by poor business conditions. New data allow us to identify the substantial gap between inward FDI stocks by the immediate investor (generally available information) and by the ultimate investing country (information available for five countries). These show that the Netherlands and Luxembourg are usually overrated as immediate investors; Germany and the USA turn out to be the most important ultimate investors. Austria remains the third most important investor in EU-CEE, but with declining shares in both home- and host-country reported stocks. Still, the FDI income gained from the region is high in international comparison, amounting to 1.1% of GDP or 10% of the outward FDI stock. The income earned by Austrian investors in EU-CEE is far larger than Austria’s net contribution to the EU budget (0.79% of its GDP). The wiiw FDI Database is available online This online access with a modern query tool supports easy search and download of data. The wiiw FDI Database contains the full set of FDI data with time series starting form 1990 as far as available. Access to wiiw FDI Database
    Keywords: foreign direct investment, balance of payments, FDI by form, income repatriation, statistics, new EU Member States, Central Europe, Southeast Europe, Western Balkans, China, Turkey, CIS, Russia, Ukraine
    JEL: C82 F21 O57 P23
    Date: 2018–06
  6. By: Tristan Kenderdine
    Abstract: China's agricultural support policies are moving towards market institutions through a quasi†market transition. Ten years of direct minimum purchase price procurement on agricultural commodities resulted in overcapacity, oversupply, mixed†market signals and grey†market imports. The Insurance Plus Futures (ä¿ é™© + 期货) policy pilot in agricultural price reform is a leading indicator of reform in China's agricultural production and rural finance architecture. State procurement of staple crops is now ending, and an interim governance structure is in place for the transition to market prices. This article assesses the historical institutional development of three key economic institutions in Chinese agricultural production: agricultural prices, insurance and futures. It examines government plans to move from a centrally procured to a provincially variable agricultural production model, examines the provincial sectoral target†price mechanisms constructed in 2016–2018 as interim price†setting mechanisms, looks at the emergence of government mandated agricultural insurance as a measure to cover the subsidy previously served by the minimum purchase price system and assesses the prospects for institutional development of futures contracts, commodities exchanges and price formation institutions in China.
    Keywords: China agriculture, futures markets, agricultural insurance, agricultural subsidies, agricultural commodities
    Date: 2018–05–21
  7. By: John Gibson and Chao Li
    Abstract: We study potential internal effects of China's Belt and Road Initiative. These effects may occur sooner than the international effects, since they face no delay from partner negotiations and from financing and security concerns. For a key part of the overland Silk Road Economic Belt, we identify 46 prefectural†level units in a corridor from the China–Kazakh border to Xi'an that are likely to see increased investment and economic activity from Belt and Road. These units are smaller, more diverse, poorer, and less productive than are prefectural†level units in the rest of China. The Belt and Road Initiative will disperse some economic activity to places that the market would not direct it, such as to this corridor. Given that these areas are less productive and are likely to have lower absorptive capacity, investments here will have an efficiency cost since they should yield more GDP if deployed elsewhere in China.
    Keywords: Belt & Road, China, DEA, regional policy, sub†national productivity
    Date: 2018–05–21
  8. By: Alexandra Bykova (The Vienna Institute for International Economic Studies, wiiw); Mahdi Ghodsi (The Vienna Institute for International Economic Studies, wiiw); Julia Grübler (The Vienna Institute for International Economic Studies, wiiw); Doris Hanzl-Weiss (The Vienna Institute for International Economic Studies, wiiw); Mario Holzner (The Vienna Institute for International Economic Studies, wiiw); Gabor Hunya (The Vienna Institute for International Economic Studies, wiiw); Robert Stehrer (The Vienna Institute for International Economic Studies, wiiw)
    Abstract: The Belt and Road Initiative (BRI), a vision to revive the ancient ‘Silk Road’ by means of massive infrastructure investments throughout Eurasia and Africa, was first presented by China’s President Xi Jinping in 2013. China has identified the region of Central East and Southeast Europe (CESEE) as the gateway to Western European markets. This was manifested by the investment in the Port of Piraeus (Greece) and the diplomatic initiative ‘16+1’, comprising eleven EU Member States and five Western Balkan countries, which is interesting for Austria due to its strong economic relations with this region. The Policy Brief analyses the most recent developments in trade and investment activities of China, Austria and the EU in CESEE, which are compared to the state of infrastructure in the region in the areas of transport, energy, information and communication technology as well as finance. Overall, CESEE has a high need for infrastructure investments, particularly in the transport sector. Chinese loans and investments in the region are becoming more important, especially for the Western Balkan countries, which have limited access to EU grants. The paper concludes with seven policy areas for future cooperation between Austria and China. The Policy Note is based on a study conducted for the Embassy of the People’s Republic of China in Austria. It is available upon request. Please contact Ms ZHANG Yiran ( or Mr CHEN Lin (
    Keywords: BRI, Belt and Road, New Silk Road, infrastructure, investment, FDI, transport, ICT, international trade, Gravity estimation, China, Austria, CESEE, Western Balkans
    JEL: E22 F21 H54 F13 F14 L9 O18
    Date: 2018–06
  9. By: Lee, Charles M. C. (Stanford University); Qu, Yuanyu (Tsinghua University); Shen, Tao (Tsinghua University)
    Abstract: We study firms' choice to go public through reverse mergers (RMs) versus initial public offerings (IPOs) in a regime with strict entry regulations. Using a manually-assembled data set from China, we show that Chinese RM firms are larger and more profitable than IPO firms prior to public listing. Chinese RM firms also have superior post-listing performance, in terms of both operations and stock returns, compared to IPOs matched on industry and size. Unlike IPOs, Chinese RM firms do not underperform the market in the long run. These results are in sharp contrast to the evidence on RMs from developed countries. We trace these differences to China's stringent IPO policies, which appear to block even high-quality firms from accessing public markets.
    JEL: G12 G18 G20 G34
    Date: 2018–03
  10. By: Denghua Zhang
    Abstract: ‘Community of common destiny’, a new concept in China's diplomacy, has been increasingly used by the Chinese government, especially President Xi Jinping, on international occasions. Given the paucity of academic research on the concept, this paper aims to fill the gap and examine three aspects: meaning, motives and implications. Building upon the author's long observation of China's foreign policy, the paper argues that this concept of ‘community of common destiny’ is vague in meaning and loosely used by China. While initially proposed by China to mend ties with neighbouring states in the context of escalating territorial disputes, the concept constitutes part of China's long†term strategy to maintain a peaceful ‘period of strategic opportunity’ in the first two to three decades of the 21st century to further develop itself. However, the ambiguity of the concept poses a main challenge for China to promote the acceptance of this concept by the developing world, let alone developed countries. This process demands more transparency, commitment and concrete actions from China.
    Keywords: community of common destiny, China's foreign policy, assertive diplomacy, international cooperation
    Date: 2018–05–21
  11. By: Abdur Rehman Shah
    Abstract: Under ‘One Belt One Road’ initiative, China has introduced a new model of economic development of cross†continental connectivity. With all its promising prospects, the initiative raises a question how such grand designs are going to impact the institutions of countries susceptible to potentially adverse impacts of Chinese investments. The case study of Pakistan — the closest ally of China — is a good example. China has started investing more than $50 billion in energy, industrial and communication infrastructure across the country. But the combination of too much and too quick Chinese investments — free of ‘governance†related conditionalities’ normally attached with Western aid — and Pakistan's domestic issues has some adverse impacts on latter's internal politics and state institutions. Lack of transparency, civil†military divide, ethnic differences, discrediting media, widening current account deficit, securitisation of trade and undoing the economic reforms (undertaken under International Monetary Fund program) are some of the unfavourable aspects of China–Pakistan Economic Corridor.
    Keywords: economic, corridor, investment, limitations, institutions
    Date: 2018–05–21
  12. By: Martine AUDIBERT (Cerdi - Université Clermont Auvergne - CNRS); Marlène GUILLON (FERDI); Jacky MATHONNAT (Cerdi - Université Clermont Auvergne)
    Abstract: What data tell us for Soum Health Centers in five provinces?Mongolia is facing strong constraints on the public financing of health expenditures since the economic crisis that started in 2012. In this context, achieving universal health care requires an improvement of health facilities’ efficiency. No published study has quantitatively investigated the efficiency of primary care facilities in former soviet health systems that are still over-reliant on inpatient and specialized care. We study the efficiency level and determinants of Soum Health Centers (SHCs) that provide primary care in rural areas of Mongolia. Data on activity and resources were collected in all SHCs of five rural regions between 2013 and 2015, for which it was possible to get complete and reliable data. We use a double bootstrap Data Envelopment Analysis (DEA) procedure to estimate SHCs’ efficiency and its determinants. SHCs of our sample exhibit a rather low (and declining) level of efficiency since they could, in average, increase activity by 47% without an increase in inputs. Results point to the role of demand-side factors in explaining SHCs’ efficiency. We find that the size of the population in the catchment area, the share of the nomadic population and the dependency ratio are positively correlated with SHCs’ efficiency. On the contrary, the poverty level of the catchment population is negatively correlated with SHCs’ efficiency.
    Keywords: Efficiency, Data Envelopment Analysis, Double bootstrapping, Primary care, Mongolia
    Date: 2018–05
  13. By: Varshaver, Evgeniy (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Rocheva, Anna (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Ivanova, Nataliya (Russian Presidential Academy of National Economy and Public Administration (RANEPA))
    Abstract: This paper presents results of a pilot survey of second generation migrants aged 18-30 in Russia which was conducted online with targeting via social networking sites. Second generation migrants are those who were born or spent at least several school years in Russia and who had at least one parent who was a migrant. This research focuses on the second generation of Armenian and Azerbaijani migrants. The analysis of the survey results (N=302) the paper outlines integration characteristics of this group in the four dimensions: structural, cultural, social and identificational integration. Comparison of the socio-economic characteristics of the second generation migrants with the Russian youth (data of FOM and RLMS) shows that first group is more successful than the second one having higher levels of education and earnings. Second generation migrants have ethnically mixed social ties but stick to the monoethnic marriages. Armenian and Azerbaijani self-identification prevails but does not conflict with the Russian one as well as with the thesis that Russia is the home.
    Date: 2018–05
  14. By: Alexey Vasilenko (Bank of Russia, Russian Federation;National Research University Higher School of Economics, Laboratory for Macroeconomic Analysis.)
    Abstract: This paper studies systemic risk and financial fragility in the Chinese economy, applying the dynamic factor model approach. First, we estimate a dynamic factor model to forecast systemic risk that exhibits significant out-of-sample forecasting power, taking into account the effect of several macroeconomic factors on systemic risk, such as economic growth slowdown, large corporate debt, rise of shadow banking, and real estate market slowdown. Second, we analyse the historical dynamics of financial fragility in the Chinese economy over the last ten years using factor-augmented quantile regressions. The results of the analysis demonstrate that the level of fragility in the Chinese financial system decreased after the Global Financial Crisis of 2007-2009, but has been gradually rising since 2015.
    Keywords: systemic risk, financial fragility, factor model, quantile regressions, China .
    JEL: C58 E44 G2
    Date: 2018–03
  15. By: J. Guan; JdD Tena
    Abstract: This study investigates the causal impact of acquiring social medical Insurance on hospital utilisation and health status for children under 16 years old in China from 2010 to 2016. We consider the China Family Panel Studies (CFPS), a longitudinal database which allows us to control for the effect of unobserved individual heterogeneity by means of difference-in-difference regressions combined with matching regression techniques. Our findings suggest that participating in social medical insurance schemes significantly increases children's yearly hospital use, especially for children who come from rural China. Moreover, this increase is not significantly different for people who were not previously sick. It is also found that social medical insurance schemes have no effect or even a marginally negative effect on children's health status in some cases. We discuss some potential explanations for this result.
    Keywords: China;Social Medical Insurance;Health Outcomes;difference-in-difference;propensity score matching
    Date: 2018
  16. By: Oliver Reiter (The Vienna Institute for International Economic Studies, wiiw); Robert Stehrer (The Vienna Institute for International Economic Studies, wiiw)
    Abstract: Based on a newly constructed multi-country input-output table including all European countries, we estimate the economic effects of the EU accession countries entering the ‘Stabilisation and Association Agreement’ (SAA) with the EU and the potential effects of joining the European Single Market applying a structural gravity framework. The results point towards strong positive effects on trade for the SAA countries, but only small effects for the EU Member States. Conducting a counterfactual analysis, the paper gives an indication of the magnitude of the positive impacts on GDP for these countries. In addition, a detailed industry breakdown of these effects is provided.
    Keywords: structural gravity, modelling, EU accession, Western Balkans, multi-country input-output table
    JEL: C54 C67 F13 F14 F15 F17
    Date: 2018–05
  17. By: International Monetary Fund
    Abstract: The economy has grown strongly since 2015, bolstered by large investment projects and buoyant tourism. Banking sector health continues to improve, with private credit growing and balance sheets strengthening. While the construction of the first phase of a major highway project has boosted economic growth, it has also raised government debt, with a cost of nearly ¼ of GDP. To strengthen fiscal sustainability, in 2017 the authorities began implementing a well-specified medium-term fiscal adjustment strategy, in line with staff advice.
    Date: 2018–05–21
  18. By: Carlsson, Fredrik (Department of Economics, School of Business, Economics and Law, Göteborg University); Lampi, Elina (Department of Economics, School of Business, Economics and Law, Göteborg University); Martinsson, Peter (Department of Economics, School of Business, Economics and Law, Göteborg University); Tu, Qin (School of Economics and Resource Management, Beijing Normal University, Beijing, China); Yang, Xiaojun (School of Public Policy and Administration, Xi’an Jiaotong University, Xi’an, China)
    Abstract: We present lab-in-the-field experimental evidence of the effects of the Chinese one-child policy on individuals’ preferences and behavior as adults. The experiments were conducted in three different provinces because the policy was not strictly implemented at the same time in all provinces. We measure risk and time preferences, as well as subjects’ competitiveness, cooperation, and bargaining behavior, sampling individuals born both before and after the introduction of the policy. Overall, we do not find any sizeable or statistically significant effects of the one-child policy on preferences or behavior in any of the experiments. These results hold for heterogeneity in the timing of the implementation of the OCP in different provinces, for heterogeneity among individuals, and for various robustness checks.
    Keywords: one-child policy; lab-in-the-field experiment; China.
    JEL: C91 D03 D10 I31 P30
    Date: 2018–05
  19. By: Sona Benecka; Ludmila Fadejeva; Martin Feldkircher
    Abstract: This paper investigates the international effects of a euro area monetary policy shock, focusing on countries from Central, Eastern, and Southeastern Europe (CESEE). To that end, we use a global vector autoregressive (GVAR) model and employ shadow rates as a proxy for the monetary policy stance during normal and zero-lower-bound periods. We propose a new way of modeling euro area countries in a multi-country framework, accounting for joint monetary policy, and a novel approach to simultaneously identifying shocks. Our results show that in most euro area and CESEE countries, prices adjust and output falls in response to a euro area monetary tightening, but with a substantial degree of heterogeneity.
    Keywords: Euro area monetary policy, global vector autoregression, spillovers
    JEL: C32 E32 F44 O54
  20. By: Li Du and Zhongxiang Zhang
    Abstract: Personal income tax is a commonly used redistributive instrument to deal with inequality. Whether it achieves that efficacy requires an appropriate measurement. This paper aims to examine the redistributive effects of personal income tax (PIT) based on the generalized entropy indexes. Compared with the commonly used approach based on the Gini coefficient, the generalized entropy indexes are more sensitive to the structural features of the redistributive effects and can lead to more reliable evaluation about the redistributive policy adjustments. Based on this new approach, we assess the redistributive effects of the 2011 PIT adjustment in China by using the urban household survey data. Different from previous studies, our results show that the 2011 PIT adjustment has effectively reduced the inequality within high income group, and if hidden income is taken into consideration, the overall inequality reduction resulted from the tax adjustment turns out to be positive. This finding highlights the importance of judging the redistributive effects of PIT on the basis of right household income data and that China should pay more attention to the hidden income in designing the redistributive tax rules.
    Keywords: generalised entropy index, personal income tax, redistributive effects, hidden income, China
    Date: 2018–05–21
  21. By: International Monetary Fund
    Abstract: Albania’s economic recovery remains strong, benefiting from a favorable domestic and external environment. Economic growth is picking up backed by strong domestic demand, energy-related foreign direct investment, and exports of services. The current account deficit is narrowing and the level of foreign exchange reserves remains comfortable. Inflation is low and public debt is declining. While credit growth is weak, banks are liquid and stable.
    Date: 2018–05–21
  22. By: Suyunchev, Marat (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Repetyuk, Sergei (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Temnaya, Olga (Russian Presidential Academy of National Economy and Public Administration (RANEPA))
    Abstract: The article presents the results of scientific research «The development of incentive regulation Methodology, based on benchmarking of Distribution Electricity Networks maintenance unit costs», which analyzes international and Russian practice of distribution electricity networks incentive regulation. Factors effecting to the value of Russian distribution electricity networks maintenance manageable costs are identified, and the factors-costs model is developed. The methods of distribution electricity networks yardstick maintenance manageable calculations are considered. The possible effect of the yardstick costs incentive regulation on distribution electricity networks performance is evaluated.
    Date: 2018–05

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