Thirdly, by provided large credit to enterprises and subsidies, the state protected output from falling at an early stage of the transition. ... In 1991, after reaching independence, Belarus had one of the highest standards of living in the former Soviet Union (FSU). "It was seen as an industrial park for consumer goods, with relatively better capital stock than other republics" (World Bank). ... One of Belarus" best decisions was joining the World Bank in 1992. ... All these endorsements by the World Bank derailed many problems that constrained economic growth and development. ...

• Word Count: 897
• Approx Pages: 4
• Has Bibliography
• Grade Level: Undergraduate