Martha de Melo's research while affiliated with The National Bureau of Economic Research and other places

Publications (14)

Article
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This article takes an integrated approach to evaluating the interaction of initial conditions, political change, reforms and economic performance in a unified framework covering 28 transition economies in East Asia, Central and Eastern Europe, and the fsu. Initial conditions and economic policy jointly determine the large differences in economic pe...
Article
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A group of researchers led by two prominent Western economists examines the experience of 10 regional capitals along the Volga River following the disintegration of the USSR, during a period of significant transition in the municipal (government) and economic functions exercised by Russian cities. The authors survey general similarities in these ci...
Article
Economics at the Hebrew University in Jerusalem. The paper is based partly on research undertaken at the Research Center of the New Economic School in Moscow and on a separate database developed with the assistance of Michael Haney and Plamen Yossifov. Both efforts were financed by the World Bank, and the authors greatly appreciate the contribution...
Article
August 1999Reform in 10 regional capitals along the Volga River is associated with favorable initial conditions. And both reform and favorable initial conditions are associated with relatively successful economic outcomes - except where access to extra resources improves outcomes or where weak government undermines success.After studying the nature...
Article
Full-text available
This article takes an integrated approach to evaluating the interaction of initial conditions, political change, reforms and economic performance in a unified framework covering 28 transition economies in East Asia, Central and Eastern Europe, and the FSU. Initial conditions and economic policy jointly determine the large differences in economic pe...
Chapter
Experience with the transition from plan to market has varied greatly across the reforming socialist countries. By the start of 1996 transition countries fell into three broad categories — growing, recovering, and lagging (Table 1). In the first category, China and Vietnam have experienced uninterrupted growth in real GDP since the beginning of the...
Article
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The aim of this paper is to develop an aggregate stability index for the Romanian financial system, which is meant to enhance the set of analysis used by authorities to assess the financial system stability. The index takes into consideration indicators related to financial system development, vulnerability, soundness and also indicators which char...
Article
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The transition from a planned economy to a market economy involves a complex process of institutional, structural, and behavioral change. This article develops an index of economic liberalization and analyzes its interaction with growth and inflation, using data from twenty-six transition countries for 1989-94. The article reveals two paradoxes of...
Article
Two senior World Bank economists provide a broad comparative overview of transition economies, covering the former Soviet Union, East Central Europe, China, and Vietnam. In the process, they assess the experience of each of the 20 European and 8 Asian countries up to 1996, focusing on the wide variation in exposure to economic and political liberal...
Article
Full-text available
In analyzing the transitional experience of countries in Central and Eastern Europe (CEE) and the former Soviet Union (FSU), the authors find strong common patterns for countries at similar stages of reform despite differences in initial conditions. To establish rankings, the authors create a reform index combining the intensity and duration of eco...
Article
Russian private entrepreneurs in services are truly pioneering, because many services- especially trade, financial services, and most business and consumer services-are poorly developed. This article uses 1992 and 1993 survey data from St. Petersburg to assess the characteristics of these entrepreneurs, their firms, and the markets in which they de...
Article
Private services could contribute greatly to economic growth in Russia and the other former Soviet states. The authors use econometric analysis to identify the gap between expected and actual levels of service activities in these countries and simulate the effect on GDP and employment of closing the gap. The gap is particularly wide for business an...

Citations

... They are provided by the Heritage Foundation (see O" Driscoll et al. 2001). A further institutional variable is the liberalization index developed by de Melo et al. (1997). It measures internal markets liberalization, external markets liberalization and private sector entry. ...
... page 28 of the 1999 Transition Report. Building on an earlier effort by DeMelo et al. (1997), the variables selected to capture the initial conditions across the transition regions can be classified into two groups: 1. A first set of variables describing the extent of distortions generated under central planning. ...
... Reforms have been compared within Asia (e.g.Green and Vokes, 1998), Africa (e.g.Kherallah et al. 2002), Europe (e.g.Lerman et al., 2004;Macours and Swinnen, 2000), and between Europe and Asia(de Melo and Gelb, 1996;de Melo et al., 2001;Macours and Swinnen, 2002;. In particular the comparison between China on the one hand and Russia and Eastern Europe on the other hand has triggered a large set of studies, includingDewatripont and Roland (1995),Fischer (1994),Qian et al. (1999),Sachs and Woo (1994) andSwinnen and Rozelle (2006). ...
... de Melo and Ofer (1999: 13) describe it at that stage as being 'at the bottom of the list for reform', many of which it still maintains, including ceilings on profits and trade markups and restrictions on food exports to other regions, whereas Pskov's local administration is very heavily orientated towards the private sector 35 . In Ulyanovsk unlike Pskov there are very low levels of inward foreign investment (de Melo and Ofer 1999), and the main domestic industry, aircraft manufacture, has become so inefficient that 'even Aeroflot does not want to buy its low-quality airplanes' (Orttung et al 2000: 597). Indicators of social capital are also inferior in Ulyanovsk: unlike Pskov, it has very low access to non-government media: only local, primarily governmentowned, newspapers are read, there are no privately-owned radio and television stations, and the local democracy indicator is much higher in Pskov than in Ulyanovsk. ...
... • Prompt formation of an authoritarian political regime headed by a strong leader with significant influence at the federal level (Gelman 1998;Kahn 2000;Matsuzato 2004;Mikhailov 2010) • 'Special' relations with the federal center making it possible to effectively lobby regional interests and obtain additional federal resources (Åslund, 2004;Sharafutdinova, 2003Sharafutdinova, , 2016Zubarevich, 2014) • Enhanced level of regional autonomy (Stoner-Weiss, 1999;De Melo, 1999) • Considerable share of oil production and oil refining in the structure of the regional economy, strong dependence on oil price dynamics (Sagers, 2006;Sharafutdinova, 2016) • Stability of the regional elite during the first years of market transformation (Kahn, 2000;McCann, 2004) Andrei Yakovlev, Lev Freinkman, Sergey Makarov and Victor Pogodaev In response to external shocks: How advanced Russian regions react to changes in federal policies -Experience of Tatarstan • Success of regional elites in establishing and maintaining control over the core republican economic assets (Hagendoorn et al., 2008), including in the oil industry (Rutland, 2015) • Relatively slow pace of undertaking the basic market reforms in the 1990s (Darrell, 1997;Kopsidis, 2000) • Local patriotism and readiness to defend republican -including ethnic -interests (Drobizheva, 1999;Bradshaw and Prendergrast, 2005); while support for multi-ethnic and multi-confessional stability has always been a political priority (Sharafutdinova, 2000). ...
... Scientific literature analysis has shown the lack of studies on countries with transition economy relating real estate market. However some scientists have highlighted the financial and tax systems formation features in countries with transition economy (Grennes, 1994; Renaud, 1996; Polomski, 1999), as well as real estate market formation features in countries with transition economy (Atkinson & Micklewright, 1992; Guzanova, 1997; Lanjour et al., 1998; Melo & Ofer, 1999; Anderson, 2000; Smith et al., 2003; Popov, 2009). The emerging real estate market conditions the processes at national level: legal and fiscal policy developments (Anderson, 2000). ...
... As liberalization progressed among the former Soviet states, economists created and analyzed measures of liberalization to test these competing theories. Commonly used indexes include the liberalization index created by de Melo et al. (1996) and the EBRD index. 8 Falcetti et al. (2006) summarize the literature's progress and claim that "the influence of reforms on growth have become more, rather than less, controversial." ...
... Выполненные расчеты, свидетельствующие о снижении уровня технологической производительности театров -до 0,78 в 2009 г., и его восстановлении -до 0,99 в 2018 г., 9 Вслед за работой Баумоля о «несбалансированном росте» [Baumol, 1967] указанная закономерность была продемонстрирована для всей сферы услуг. См., например: Ofer, 1973;Easterly et al., 1994;Лукьянова, 2003]. ...
... On average, the economic decline in the FSU turned out to be longer and more profound than in Central Europe (Table 6). It was the result of more difficult starting conditions, i.e., the higher level of structural and institutional distortions accumulated during the Soviet era and macroeconomic imbalances (see Section 2), as well as slow and inconsistent reforms (De Melo et al., 2001;World Bank, 2002;Havrylyshyn, 2020). The armed conflicts (Section 1) also played a negative role in some FSU countries. ...
... Such reforms were applied with different steps and with different speeds (e.g. Blanchard, 1997;De Melo and Denizer, 1997;Wagner, 2000;Aslund, 2013). In the last decades, twelve former socialist countries adhered to European Union and assumed the obligation of adopting euro. ...