Journal Issue

Country Focus: The Commonwealth of Independent States

International Monetary Fund. External Relations Dept.
Published Date:
December 2003
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A decade after starting their transition to market economies, the CIS countries1 have achieved impressive economic growth but need to implement further structural reforms to strengthen the investment climate.

Sources: IMF, Direction of Trade Statistics, Former Soviet Union database, Trade Restrictiveness database, World Economic Outlook database, and staff estimates; European Bank for Reconstruction and Development, 2002 Transition Report; and national authorities.

1CIS countries are Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, the Kyrgyz Republic, Moldova, the Russian Federation, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan.

2Excludes China and India.

3Excludes Turkmenistan.

4Scale is 1 to 10, with 10 being most restrictive.

5Includes foreign currency deposits.

6Central and Eastern Europe and the Baltics.

INDEX 2003—Volume 40



George T. Abed, Unfulfilled Promise, March

Daron Acemoglu, Root Causes, June


Mark Baird and Sudhir Shetty, Getting There, December

Emanuele Baldacci, Benedict Clements, and Sanjeev Gupta, Using Fiscal Policy to Spur Growth, December

Steven Barnett and Rolando Ossowski, What Goes Up…, March

Adam Bennett, Failed Legacies, March

Andrew Berg, Eduardo Borensztein, and Paolo Mauro, Monetary Regime Options for Latin America, September

Beyond the Washington Consensus, September

James Boughton and Zia Qureshi, Staying on Track, September

Robin Brooks, Kristin Forbes, Jean Imbs, and Ashoka Mody, Dancing in Unison? June


Asimina Caminis, interview with Esther Duflo, Putting Economic Policy to the Test, September

Jorge Iván Canales-Kriljenko, Roberto Guimarães, Shogo Ishii, and Cem Karacadağ, Riding the Tiger, September

Paul Cashin, Luis Céspedes, and Ratna Sahay, Commodity Currencies, March

Jeremy Clift, interview with Nobel Prize winner Vernon L. Smith, The Lab Man, March; interview with Professor Allan H. Meltzer, Concentrating the Mind, June; interview with Hernando de Soto, Hearing the Dogs Bark, December

Country Focus: Japan, June;

  • The Middle East and North Africa, September;
  • The Commonwealth of Independent States, December

Susan Creane, Rishi Goyal, A. Mushfiq Mobarak, and Randa Sab, Banking on Development, March


Salim M. Darbar, R. Barry Johnston, and Mary G. Zephirin, Assessing Offshore Financial Centers, September

Christina Daseking and Julie Kozack, Avoiding Another Debt Trap, December

Gianni De Nicoló, Sami Geadah, and Dmitriy Rozhkov, Bridging the “Great Divide,” December

Shantayanan Devarajan and Ritva Reinikka, Making Services Work for Poor People, September


Christine Ebrahim-zadeh, Dutch Disease: Too much wealth managed unwisely, March

Hali Edison, Testing the Links, June

Benn Eifert, Alan Gelb, and Nils Borje Tallroth, Managing Oil Wealth, March

Christian Eigen-Zucchi, Gunnar S. Eskeland, and Zmarak Shalizi, Institutions Needed for More than Growth, June

Sena Eken, David A. Robalino, and George Schieber, Living Better, March


Falling Behind? December

Paul K. Freeman, Michael Keen, and Muthukumara Mani, Being Prepared, September


Edward Gardner, Wanted: More Jobs, March


A. Javier Hamann and Alessandro Prati, Beating Inflation, June

Nancy Happe, Mumtaz Hussain, and Laure Redifer, Absorbing Shocks, December

Peter S. Heller, Who Will Pay? September

Hit by Disaster, September


Abdelali Jbili and Vitali Kramarenko, Should MENA Countries Float or Peg? March


Manmohan S. Kumar, Deflation, June


Prakash Loungani, Inequality, September; The Global War on Poverty: Who’s Winning? December


Trevor A. Manuel, Africa: Finding the Right Path, September

The move to inflation targeting, June


Bright E. Okogu, Middle East to dominate world oil for many years, March

Guillermo Ortiz, Latin America: Overcoming Reform Fatigue, September

Overcoming the Obstacles, December


Plunging into crisis: Freshwater resources come under increasing pressure, June

Eswar Prasad and Thomas Rumbaugh, Beyond the Great Wall, December


Carmen M. Reinhart and Miguel A. Savastano, The Realities of Modern Hyperinflation, June

Dani Rodrik and Arvind Subramanian, The Primacy of Institutions (and what this does and does not mean), June

Kenneth S. Rogoff, A Vote Against Grandiose Schemes, March; Disinflation: An Unsung Benefit of Globalization? December; More Cheerleading or More Whistle-Blowing? September; Unlocking Growth in Africa, June


Jeffrey D. Sachs, Institutions Matter, but Not for Everything, June

John Williamson, From Reform Agenda to Damaged Brand Name, September

The World’s Forests—Balancing Economic Demands and Conservation, December


David M. Andrews, C. Randall Henning, and Louis W. Pauly (editors), Governing the World’s Money, December

Orazio Attanasio and Miguel Szekely (editors), Portrait of the Poor: An Assets-Based Approach, December

Peter Bernholz, Monetary Regimes and Inflation: History, Economic and Political Relationships, September

Surjit Bhalla, Imagine There’s No Country—Poverty, Inequality and Growth in the Era of Globalization, June

Lester Brown, Plan B: Rescuing a Planet Under Stress and a Civilization in Trouble, December

Elina Cardoso and Ahmed Galal (editors), Monetary Policy and Exchange Rate Regimes, March

Merih Celasun (editor), State-Owned Enterprises in the Middle East and North Africa: Privatization, Performance and Reform, March

W. Max Corden, Too Sensational: On the Choice of Exchange Rate Regimes, September

Samiha Fawzy (editor), Globalization and Firm Competitiveness in the Middle East and North Africa Region, March

Clement M. Henry and Robert Springborg, Globalization and the Politics of Development in the Middle East, March

Jack Hollander, The Real Environmental Crisis: Why Poverty, Not Affluence, Is the Environment’s Number One Enemy, December

Yasheng Huang, Selling China: Foreign Direct Investment During the Reform Era, December

Jeff Madrick, Why Economies Grow: The Forces That Shape Prosperity and How to Get Them Working Again, September

Samuel Paul, Holding the State to Account, June

Roger Porter, Pierre Sauvé, Arvind Subramanian, and Americo Beviglia-Zampetti (editors), Efficiency, Equity, and Legitimacy: The Multilateral Trading System at the Millennium, March

Eberhard Reusse, The Ills of Aid: An Analysis of Third World Development Policies, March

David Woodward, The Next Crisis? Direct and Equity Investment in Developing Countries, December

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