State Capitalism in Belarus

314

K. Rudy, Academy of Public Administration under the Aegis of the President of the Republic of Belarus, Institute of Public Service, 17, Moscow Str., Minsk, 220007, Republic of Belarus (kvrudy@gmail.com



Abstract

The article deals with the sources, specific features and mechanisms of state capitalism in the Republic of Belarus. The analysis is based on the elements of the theories of economic transition, as well as those of public finance and administration. The author explains the factors that pushed independent Belarus to prefer the model of state capitalism. These include: Soviet Union heritage of planned economy and centralized public administration (that helped the Republic to successfully revive from the devastative consequences of fascist Germany’s occupation in 1941–1944), decisive role of big and rather modern industrial and agricultural enterprises in the national economy, public demand for building up a welfare state, well-established traditions of extensive financial support to the enterprises. State capitalism in Belarus identifies through budget consolidation, level of taxation and state-owned enterprises. The key instruments of this economic model are state-owned and private enterprises, commercial banks, Development Bank, Sovereign Wealth Fund. The author’s conclusion is, however, that relative efficiency of the Belarus’ model of state capitalism should not be overestimated. It works only with continuation of extensive public and financial support. Still, the main sources of the state capital are the market instruments. Thus, the existing model can be successful only in the short-term period. It mobilizes economy but limits its flexibility, So far, there is a high probability that Belarus faces a great risk to fall into a long-term institutional trap of conservation of its economic structure and steadily falling international competitiveness. 


Keywords

Republic of Belarus, state capitalism, transition economy, public management, budget, taxes, state-owned enterprises 


Registered in system SCIENCE INDEX

For citation:
Rudy K. State Capitalism in Belarus. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2016, vol. 60, No 4, pp. 77-85



Comments (0)

No comments

Add comment







Indexed
 
Current Issue
2021, vol. 65, No. 1
Topical Themes of the Issue:
  • Globalization and Nation-State: Yesterday, Today, Tomorrow
  • Global Value Chains (GVCS) and COVID 19 Pandemic
  • Middle East Conflicts Today: Between Religion and Geopolitics
  • Beijing’s Pain Points – 2 (Glance from Mid 2020)
  • Social Sciences and Global Turbulence: Rebooting the Mainstream
View This Issue (2021, vol. 65, No. 1)
Submit an Article
Announcement

Dear readers!
Please note that free access to full-text issues of the Journal is being opened at our WEB-site after 6 months of the date of publications.The work on deepening the open archive of full-text issues will be continued.


Dear colleagues, authors and readers!
We kindly request you to turn to editor-in-chief and executive secretary directly concerning reviewing scientific publications in our journal. Only editor-in-chief takes decision on order and publication the reviews!

Dear readers!
This is to inform the researchers of the Institute of World Economy and International Relations that electronic versions of the I, II, III issues of 2020 of French magazine Politique étrangère are now available. Those who are interested, please personally address to the editorial staff of MEMO Journal (room 18-17) with an electronic media.
NEW SECTION

In response to the challenges of our time the Editorial board continues to open new thematic rubrics:

“World Energy Sector after Pandemic”. We plan to publish articles presenting in-depth analysis of influence of Pandemic on the global energy sector and forecasts of further developments in its various branches.

“Civilization processes of modern development” is a new rubric opened by MEMO Journal in 2020. It will be devoted to the analysis of the influence of civilizational factors and inter-civilizational interactions on the political and socio-economic development of the world at whole, regions and countries.

“Africa today and tomorrow”The rubric devoted to contemporary issues of Africa which is attracting growing interest of the world's leading actors. We plan to publish the articles analyzing the status of statehood, socio-economic and political development of the countries of Black continent, as well as the integration processes between them.

CONTEST!

"World Eсonomy and International Relations" announces a contest for the best joint academic publications of domestic and foreign researchers and experts in topical issues of the world economy and international relations. The winners will be selected according to the results of peer reviewing and discussion at the Editorial Board. The articles will be published in priority order.

SUBSCRIBE TO THE JOURNAL

The print version of “World Economy and International Relations” journal is distributed by advance subscription only, and is not offered for retail sale. To subscribe please address to any post office in Russia by referring to the Federal Postal Service Union Catalogue, section “ARSMI”, the journal index is 70542. The subscription may be made for the whole subscription period or starting from any nearest available month for desired number of issues.

To purchase the full-text electronic version of the journal’s issue/article please address to the WEB portal of Scientific electronic library eLIBRARY.ru or URL: https://press.gaugn.ru/.

In journal
Years
2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |

The author’s opinions may not coincide with the position of editorial