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Economics

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Investing in policy reform

Article Abstract:

The Dixit-Pindyck theory of investment under uncertainty has been applied and extended to a policy setting. This was taken to be the potential legalization of a currently banned drug. This research has highlighted several issues relating to enforcement and liberalization of a prohibition, including the reasons for liberalizing at all, rather than merely committing no resources to enforcement. It is concluded that there will always be some potential for altering the amount and targeting of liberalization. This potential can facilitate a range of policy outcomes within the framework of a single policy regime.

Research, Law enforcement, Political planning

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Economic crime and Russian reform

Article Abstract:

There is a serious crime problem in Russia, though it cannot easily be measured due to the unreliability of statistics. There is also a perception that crime rates have worsened. Both the perception and actual levels could threaten economic reform in Russia. Crime affects economic policy and the behavior of Russian and potential foreign investors, who may be deterred. Resources are allocated to tackle crime, and are diverted from other aspects of the economy.

Russia, Crime

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Economics in the former Soviet Union

Article Abstract:

Economics as a discipline in the former USSR is different from the economics as studied in the West. In a bid for economic reform, economists are being named to sensitive posts requiring their expertise in solving the different Soviet republics' economic ills. Economists in the former USSR will probably search for a framework of reform incorporating the best ideas from Soviet political economy and Western neoclassical economics.

Analysis, Economics, Training, Economists, Soviet Union

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