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Economic development and private sector growth in the low-income Seventh Commonwealth of Independent States (CIS-7) countries : challenges and policy implications (Английский)

The paper examines why economic development has fallen behind in the low-income CIS-7 countries, while private sector activity has grown in absolute terms and as a share of GDP. The paper shows that the problem lies in the quality of the private sector. In the CIS-7, the statistical increase in the private sector is largely due to state assets that were privatized. Since most of the state assets had little economic value other than buildings and land...
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