Published in «Journal of International Economic Affairs»4 / 2019
DOI: 10.18334/eo.9.4.41220

Three countries: an attempt of comparative analysis

Sukharev Mikhail Valentinovich, Karelian Research Centre of the RAS, Russia

Три страны: попытка компаративного анализа - View in Russian

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The article presents the results of a comparative analysis of the economic history of Belarus, Estonia and Finland for the period from 1990 to 2017. These countries were chosen because it was assumed in advance that their development trajectories during this period should differ significantly. Estonia was one of the first Soviet republics to begin liberal political and market reforms; and it followed the theoretical guidelines of the “Washington consensus“ most stubbornly. Belarus, on the contrary, carried out privatization conservatively, keeping most of the property of large enterprises in the hands of the state. Finland did not experience such revolutionary social and economic transformations at all, as it was not a part of the USSR. However, the GDP dynamics of all three countries during the study period was very similar. If we normalize GDP to the average size of the economy of each country (lead to one scale), the curves almost merge, reflecting the fluctuations of the world market. On the basis of the analysis, the institutionalists' assertion that “institutions matter“ becomes very doubtful. Perhaps the belonging of all three countries to the European social and technological culture is more important. For a more complete understanding of the relationship between social and economic, it seems important to implement the idea of academician V.M. Polterovich to create a “general social analysis“, that is, a science that unites all the sciences about society into a single whole.


civilization, comparative economics, culture, economic history, gdp, social institutions

JEL-Classification: E02, F62, N14

Sukharev M.V. (2019). Three countries: an attempt of comparative analysis [Tri strany: popytka komparativnogo analiza]. Journal of International Economic Affairs, 9(4). (in Russian). – doi: 10.18334/eo.9.4.41220.

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