Reserve Accumulation in the Wake of the Great Recession

More from For a Few Dollars More: Reserve Accumulation in Times of Crisis, by Matthieu Bussiere (Banque de France), Menzie Chinn (UW), Gong Cheng (Sciences Po), Noemie Lisack (European University Institute) (also NBER Working Paper No. 19791): …In the immediate aftermath of the crisis, countries that depleted foreign reserves during the crisis quickly rebuilt their stocks. This rapid rebuilding has, however, […]

How Not to Do Business in the Post-Soviet Bloc

Business in the former USSR is notoriously rough and tumble, where a pronounced lack of transparency means businessmen often act at the outer limits of legality and colluding with influential politicians is a must. The recent saga of Suleiman Kerimov, an extravagant oligarch from Dagestan, serves as a good example of how not to go […]

Syria Signs First-Ever Offshore Oil Deal, With Russia

Syria has signed an agreement with Russian oil and gas company SoyuzNefteGaz for joint oil exploration off the Mediterranean coast, in Syria’s part of the prolific Levant Basin, according to Syrian, Russian and Iranian state news agencies. The contract will enter into effect immediately despite US and European sanctions against Syria, where opposition forces and Islamist groups […]

How Effective Are Anti-Oil Protests?

By Daniel Graeber: A Russian court granted bail Monday to two of the 30 people arrested when activists with Greenpeace tried to climb the Arctic-class ice-resistant Prirazlomnaya oil rig deployed in the Pechora Sea earlier this year. The remaining detainees, charged initially with piracy, could face up to seven years in prison for hooliganism. Greenpeace […]

Emerging Markets: What Has Changed

(from Dr. Win Thin and Ilan Solot) 1) The central bank of Indonesia surprised markets again 2) Data in Brazil are improving 3) Chinese lending data suggest signs of greater activity in the shadow banking sector 4) The Russian opposition party fared very well in the Moscow election 1) The central bank of Indonesia surprised […]

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