Event Title

An Analysis of the Market Reforms and their Impact on the Foreign Trade and Capital Inflow in Former Soviet Union Countries

Location

CSU 202

Start Date

9-4-2012 2:00 PM

End Date

9-4-2012 3:00 PM

Student's Major

Economics

Student's College

Social and Behavioral Sciences

Mentor's Name

Ihsuan Li

Mentor's Department

Economics

Mentor's College

Social and Behavioral Sciences

Description

The period of 1985 - 1990 for Former Soviet Union is characterized by macroeconomic chaos, fiscal crisis, repressed inflation and balance of payment deficits. Failure of the old centralized socialist economic system in balancing aggregate supply and aggregate demand, conducting international trade and implementing efficient fiscal and monetary policies resulted in its dissolution and formation of 15 new sovereign countries in Eastern Europe and Central Asia.

This paper analyzes and provides an overview of post - soviet transitioning economies and highlights the impact of market reforms, such as liberalization of prices and trade, sharp reduction of budget deficits, strict monetary policy and massive privatization, on the foreign trade and capital inflow in Former Soviet Union countries.

The study uses statistical tests to examine the effect of such policies by contrasting the pre-independence economy of transitioning countries to post - independence economic environment. Later it assesses the economic goals of these countries and given the findings, focuses on the significance of international trade and foreign capital investment in achievement of better economic performance.

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Apr 9th, 2:00 PM Apr 9th, 3:00 PM

An Analysis of the Market Reforms and their Impact on the Foreign Trade and Capital Inflow in Former Soviet Union Countries

CSU 202

The period of 1985 - 1990 for Former Soviet Union is characterized by macroeconomic chaos, fiscal crisis, repressed inflation and balance of payment deficits. Failure of the old centralized socialist economic system in balancing aggregate supply and aggregate demand, conducting international trade and implementing efficient fiscal and monetary policies resulted in its dissolution and formation of 15 new sovereign countries in Eastern Europe and Central Asia.

This paper analyzes and provides an overview of post - soviet transitioning economies and highlights the impact of market reforms, such as liberalization of prices and trade, sharp reduction of budget deficits, strict monetary policy and massive privatization, on the foreign trade and capital inflow in Former Soviet Union countries.

The study uses statistical tests to examine the effect of such policies by contrasting the pre-independence economy of transitioning countries to post - independence economic environment. Later it assesses the economic goals of these countries and given the findings, focuses on the significance of international trade and foreign capital investment in achievement of better economic performance.

Recommended Citation

Fazilova, Gulmira. "An Analysis of the Market Reforms and their Impact on the Foreign Trade and Capital Inflow in Former Soviet Union Countries." Undergraduate Research Symposium, Mankato, MN, April 9, 2012.
http://cornerstone.lib.mnsu.edu/urs/2012/oral-session-11/1