Russia’s Road to Economic Recovery

Russia’s recessionary contraction has been marked with several distinct features. First, capital account deteriorated significantly. In Q3:2009 it posted a $23.7 billion deficit, reflecting net capital outflows as a result of recovery uncertainties, exchange rate and oil price volatility and the inability of the Russian banking sector of debt repayment. Thus, net capital flows . . . → Read More: Russia’s Road to Economic Recovery

What Eastern European Tigers Can Teach Western Europe

In Wednesday’s edition of WSJ, Johnny Munkhammar and Nima Sanandaji wrote a well-argued dissussion (link) on how Eastern Europe’s advantage in terms of competitive tax rates, low tax burden and sizeable reform efforts in emerging from the crisis offer a great lesson for economic recovery of the Western counterparts.

More Convincing Reports Forecast A Jobs Rebound

This week saw addition signs that this recovery will be anything but a jobless one.

On Monday the Empire State Manufacturing Survey was released. Amidst a report that shows continued manufacturing growth in the region came this assessment from the document: “Future indexes conveyed an expectation that activity and employment would improve in the . . . → Read More: More Convincing Reports Forecast A Jobs Rebound

Hawala Banking And Currency Controls Part II

If you are unfamiliar with hawala banking then I recommend reading Hawala Banking And Currency Controls Part I to become familiar with the concept before reading further.  If you are familiar with how hawala banking works then you will probably know that hawala transactions are not inherently wrong and should not arouse any suspicion . . . → Read More: Hawala Banking And Currency Controls Part II