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This volume deals with the nature of the relationship between the
countries of Eastern Europe and the Soviet Union and those of the
Third World, offering some background to the decline in the Soviet
Union's international position, both politically and economically.
This volume deals with the nature of the relationship between the
countries of Eastern Europe and the Soviet Union and those of the
Third World, offering some background to the decline in the Soviet
Union's international position, both politically and economically.
The large-scale transformation of Kazakhstan's power sector
following independence in 1991 was reflected by the country's move
toward liberalizing the market and implementing sector regulation.
As an early adopter of a liberalised multimarket model consisting
of bilateral, spot, balancing, ancillary, and capacity submarkets
Kazakhstan's power sector was regarded a market reform leader among
countries of the former Soviet Union, having achieved a much
improved supply and demand balance and service quality. However,
despite the noteworthy headway, sector reforms remain predominantly
as unfinished business. The excess generation capacity that was
inherited from the former Soviet Union at a time when the
"energy-only" market prices were too low to attract serious
investors has masked the need to reflect on the long-term outlook
of the country's power production. As the investment crunch
unfolded in the mid-2000s, a diverging concern almost immediately
arose; that is, the capacity additions of existing and planned
generations may not be sufficient to keep pace with the
perpetuating and significant increase in the demand for power.
Instead of applying market mechanisms to allow prices to rise and
reflect the underlying supply and demand gap, the GoK addressed the
issue by implementing administrative, command-and-control measures.
This study draws on the World Bank's long-standing engagement in
Kazakhstan's energy sector and a number of recent technical
assistance and advisory support activities. The study aims to (i)
objectively identify the principal challenges faced by the
Kazakhstan power sector in its ongoing transition and outlining
potential policy options; and (ii) draw lessons from Kazakhstan's
experience in sector reforms for the broader international
audience. The study covers broader sector issues including
long-term least-cost power system planning, supply and demand
balancing, tariff setting, market structure, and integration of
renewable energy
The essays in this volume document the serious shortcomings of the
Hungarian economic reform, which in two decades has brought
deteriorating economic performance, declining real wages, a fiscal
deficit and severe inflationary pressures. It has proved
unexpectedly difficult to substitute a regulated market economy for
a centrally planned one. The authors of these essays argue that the
problems stem from the incompleteness of the reforms and their
compromise character. Today, as the Hungarians prepare to implement
more radical measures, constraining the Communist party and rolling
back state ownership, they do so under economically difficult
conditions.
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