This article attempts to offer a picture of the state of the economic reform in Ukraine in the summer of 2015, assessing what has been done. It offers a periodisation of Ukraine’s economic policy since its independence in 1991, suggesting that Ukraine has seen three periods of significant reform and this is by far the most important. The main cause of Ukraine’s current economic decline is Russian warfare. The present situation differs greatly from that after the Orange Revolution in late 2004. These reform efforts are more far-reaching than earlier attempts, especially in the energy and banking sectors. Finally, four risks to the present reform wave are discussed. The four big risks to this reform wave lie in Russian warfare, insufficient international funding, lagging reforms in the judicial sector, and the wearing out of the coalition because of economic hardship.
The banking landscape in the USA has been shaped by various political and economic forces throughout the years, and the interaction between banks and the state has, in the case of Citibank, been particularly close. The role of globalization, the increased number of mergers and acquisitions in the banking sector in the USA have in the last decade clearly contributed to the blurring of frontiers between domestic and international boundaries in financial operations. Citigroup has managed to hold both a strong local consumer base and a wide international network, which is present on a number of emerging markets and even micro-finance development today. The study reveals that interactions between finance and politics have played a significant role in explaining the idiosyncrasy of the American banking landscape, but one may wonder whether finance could have, on the domestic political scene in the USA, managed to outweigh politics or rather to free itself from political considerations.
Authors:Bruno Ćorić, Lena Malešević Perović, and Vladimir Šimić
This study explores cross-country variations in the size of the effects of a monetary policy shock on output using the sample of 48 developed and developing countries. The structural vector autoregression model is used to estimate monetary policy effects for each country separately. Based on the estimated impulse responses, we construct a measure of the short-run monetary policy effect on output, which is used as the dependent variable in a cross-country regression. Our results suggest that the effects of monetary policy shock on output are significantly influenced by trade openness, exchange rate regime, correlation with the US and for European countries with the German economy, and the development of the banking sector.
Akkoc , S. – Vatansever , K. ( 2013 ): Fuzzy Performance Evaluation with AHP and Topsis Mehtods: Evidence from Turkish BankingSector after the Global Financial Crisis . Eurasian Journal of Business and Economics , 6 ( 11 ): 53 – 74