Should the size of the government (e.g. public spending) be minimised as much as possible? Please discuss pros and cons of public finance downsizing with relation to Emerging Markets.

Order Description

Should be an essay written to a highest standard-First Class Standard(higher than 85%). All essay should be based on the case of Emerging markets like Russia, Poland etc. The essay should be written in Times New Roman with Single Space, 12th font and over 2500 words(not inlcuding bibliography). The use of graphs/charts/bars is highly needed(it can be found from the text books which I attached) and need to be explained. Rescources should not include wikipedia, only books and articles provided(from all the weeks;attached them as a word file as well).

1)Core Readings for that essay

2)Core readings for the whole course(might be needed)

3)Presentations

There are core readings for this specific essay:

Week 22: Financial Sector Reforms and Comparative Financial Systems

Lecture

Key readings:

1)*Berglof, E. and Bolton, P. (2002). The Great Divide and Beyond: Financial Architecture in Transition. Journal of Economic Perspectives. Vol. 16(1), pages 77- 100.

2)*Ang, J. (2008) A Survey of Recent Developments in the Literature of Finance and Growth. Journal of Economic Surveys. Vol. 22(3), pages 536-576.

3)E. Berglöf, Capital Structure as a Mechanism of Control: A Comparison of Financial Systems, in Masahiko Aoki, Bo Gustavsson, and Oliver Williamson (eds.), The Firm as a Nexus of Treaties, European Sage, 1990.

4)Dewatripont, Mathias and Eric Maskin, (1995), Credit and Efficiency in Centralized and Decentralized Economies, Review of Economic Studies, 62: 541-555.M.

5)EBRD (2006). Transition Report: Finance in Transition. Chapter 3 (4 and 5).

6)Fries, S. and Taci, A. (2002). Banking Reform and Development in Transition Economies. EBRD Working Paper 71.

7)Pagano and P. Volpin Pagano, 2001. The Political Economy of Corporate Governance, CEPR Discussion Papers 2682.

Downloadable at

These textbooks might help as well:

1)T. Mickiewicz Economics of Institutional Change: Central and Eastern Europe Revisited (Studies in Economic Transition), Palgrave 2010

2) G. Roland, Transition and Economics, Politics, Markets, and firms, MIT 2000; 3)M. Aoki, Toward a Comparative Institutional Analysis, MIT Press 2001; 4)G. Turley, and P. Luke Transition Economics, Routledge 2011; 5)O. Havrylyshyn, Divergent Paths in Post-Communist Transformation: Capitalism for All or Capitalism for the Few? (Studies in Economic Transition), Palgrave 2006.