The Belarusian case of transition: whither financial repression?

Julia Korosteleva and Colin Lawson

Post-Communist Economies, 2010, vol. 22, issue 1, 33-53

Abstract: This article examines the financial development of Belarus, with special emphasis on 1996-2002, when the financial sector was restrained by pervasive government controls. Belarus is of particular interest as, despite no economic restructuring, annual growth has averaged 7% since 1997. It has been argued that monetary stimulation of investment through interest rate ceilings, directed credit and preferential loans revived growth. This article investigates whether a repressive financial policy adopted by the authorities in the late 1990s led to financial deepening and increased the share of savings allocated to investment.

Date: 2010
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Working Paper: The Belarusian Case of Transition: Whither Financial Repression? (2009)
Working Paper: The Belarusian Case of Transition: Whither Financial Repression?
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DOI: 10.1080/14631370903525587

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