EconomicgrowthanditspricesometendenciesofBelaruseconomytransformation,1990-2005.docVIP

Economic growth and its price: some tendencies of Belarus economy transformation, 1990-2005 Aliaksei P. Smolski Витебский государственный технологический университет (Vitebsk State Technological University), Belarus Abstract In article some tendencies and features of Belarus economy transformation are analyzed. Macroeconomic processes and conditions are esteemed as external environment elements, in which one the enterprises of country operates. The financial state and a number of other enterprises activity performances as objective reasons of their economic insolvency are investigated. The features of Belarus economy are disclosed, which remind of socialist system. The question about the price of reached rates of economic growth for enterprises and society is examined. JEL Classification Numbers: E60, H30, J60, L16, O11, P30 Keywords: transition economy, economic growth, output, investments, unemployment Author E-Mail Address: refor@mail.ru INTRODUCTION Unlike many countries of CIS the Republic of Belarus for a long time ensures high rates of economic growth, low unemployment rate, small social stratification of society, is proud of a number of other achievements of socio-economic policy. As there is no universally recognized theory of transition economy obtaining single-valued endorsement in practice, among policymakers and economists the disputes do not cease on what from countries of former socialist camp goes on more correct path, what outlooks of their development at move on accepted course. Belarus has selected alternative of creation of socially oriented market economy with a buttress on the state and has achieved the determined successes on this path. However any success has its price, which we attempt to determine, having esteemed the tendencies of socio-economic transformation of society. Some general tendencies of Belarus economy transformation Operating consisting of the USSR united economic complex, the economy of Belarus was characterized by all featur