Obstacles to Transforming Centrally-Planned Economies PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Obstacles to Transforming Centrally-Planned Economies PDF full book. Access full book title Obstacles to Transforming Centrally-Planned Economies by Mr.Jacob A. Frenkel. Download full books in PDF and EPUB format.
Author: Mr.Jacob A. Frenkel
Publisher: International Monetary Fund
ISBN: 1451848722
Category : Business & Economics
Languages : en
Pages : 19
Get Book Here
Book Description
This paper identifies obstacles hindering the transformation of centrally-planned economies (CPEs) into well-functioning market economies. The obstacles identified relate to (i) anticipatory dynamics, (ii) monetary overhang and the budget, and (iii) underdeveloped credit markets. It is demonstrated that these obstacles inhibit the effectiveness of price reform, monetary and credit policies, and trade liberalization. The analysis focuses on various ways to remove the obstacles. In this regard, a special examination is made of the implications of “cleaning” the balance sheets of enterprises and banks from nonperforming loans, as well as ways to enhance credibility. The paper concludes with a brief discussion of sequencing, “safety nets,” and their associated obstacles.
Author: Mr.Jacob A. Frenkel
Publisher: International Monetary Fund
ISBN: 1451848722
Category : Business & Economics
Languages : en
Pages : 19
Get Book Here
Book Description
This paper identifies obstacles hindering the transformation of centrally-planned economies (CPEs) into well-functioning market economies. The obstacles identified relate to (i) anticipatory dynamics, (ii) monetary overhang and the budget, and (iii) underdeveloped credit markets. It is demonstrated that these obstacles inhibit the effectiveness of price reform, monetary and credit policies, and trade liberalization. The analysis focuses on various ways to remove the obstacles. In this regard, a special examination is made of the implications of “cleaning” the balance sheets of enterprises and banks from nonperforming loans, as well as ways to enhance credibility. The paper concludes with a brief discussion of sequencing, “safety nets,” and their associated obstacles.
Author: Guillermo A. Calvo
Publisher:
ISBN:
Category :
Languages : en
Pages : 27
Get Book Here
Book Description
This paper identifies obstacles hindering the transformation of centrally-planned economies (CPEs) into well-functioning market economies. The analysis is motivated by the recent experience with economic transformation and restructuring in Eastern Europe and the U.S.S.R. The economic system in CPEs is highly distorted. Prices do not represent real social costs, incentives systems are absent, losses of unprofitable state-owned enterprises are automatically financed, legislations vital for the functioning of markets are not in place, private ownership and property rights are underdeveloped, bankruptcy laws are absent, markets are missing, shortages prevail and, occasionally, inflation is high. The obstacles identified relate to (i) anticipatory dynamics, (ii) monetary overhang and the budget, and (iii) underdeveloped credit markets. It is demonstrated that these obstacles inhibit the effectiveness of price reform, monetary and credit policies, and trade liberalization. The analysis focuses on various ways to remove the obstacles. In this regard, a special examination is made of the implications of cleaning the balance sheets of enterprises and banks from nonperforming loans, as well as ways to enhance credibility. In the absence of such measures, privatization will be difficult since the necessary information about creditworthiness of firms is lacking. The paper concludes with a brief discussion of sequencing, safety nets. and their associated obstacles.
Author: Jacob A. Frenkel
Publisher:
ISBN:
Category :
Languages : en
Pages : 19
Get Book Here
Book Description
This paper identifies obstacles hindering the transformation of centrally-planned economies (CPEs) into well-functioning market economies. The obstacles identified relate to (i) anticipatory dynamics, (ii) monetary overhang and the budget, and (iii) underdeveloped credit markets. It is demonstrated that these obstacles inhibit the effectiveness of price reform, monetary and credit policies, and trade liberalization. The analysis focuses on various ways to remove the obstacles. In this regard, a special examination is made of the implications of quot;cleaningquot; the balance sheets of enterprises and banks from nonperforming loans, as well as ways to enhance credibility. The paper concludes with a brief discussion of sequencing, quot;safety nets,quot; and their associated obstacles.
Author: Tzong-shian Yu
Publisher:
ISBN:
Category :
Languages : en
Pages : 17
Get Book Here
Book Description
Author: Zongxian Yu
Publisher:
ISBN:
Category : Capitalism
Languages : en
Pages : 28
Get Book Here
Book Description
Author: Kempe R. Hope
Publisher:
ISBN:
Category : Central planning
Languages : en
Pages : 204
Get Book Here
Book Description
Author: Alan Smith
Publisher: Brookings Institution Press
ISBN: 0815714270
Category : Business & Economics
Languages : en
Pages : 284
Get Book Here
Book Description
The transition to a market economy proves to be far more difficult in Russia than in the former centrally planned economies of eastern Europe. The Russian economy continues to face serious problems, including substantial inflationary pressures, falling output, and capital flight. The most positive aspect of the transition has been the relatively fast pace of privatization. Challenges for Russian Economic Reform contains papers published by the post-Soviet Business Forum at the Royal Institute of International Affairs that have been revised for this volume. The contributers, specalists in Russian economic affairs, examine the principal economic and institutional factors that have hindered transformation in Russia. The sheer size of the country has complicated the problem of exposing domestic producers to foreign competition and has weakened the ability of central authorities to control the regions. Economic stabilization has been hampered by the difficulties in establishing sound economic relations with the former Soviet republics. David Dyker and Michael Barrow analyze the problems of monopoly and competition policy in Russia. Philip Hanson assesses the obstacles to economic stabilization posed by regional economic interests and examines regional diversity in reform implementation. Michael Kaser examines the problems of privatization by regions and sectors in Russia and the CIS and the institutional obstacles encountered by foreign investors. Alan Smith explores the problems created by the breakup of traditional trade and payment relations with the non-Russian republics of the former Soviet Union and bilateral trade links with Eastern Europe. He also provides an overall assessment of Russian economic performance since the collapse of communism.
Author: Hans-Jürgen Wagener
Publisher: Springer Science & Business Media
ISBN: 3642997686
Category : Business & Economics
Languages : en
Pages : 237
Get Book Here
Book Description
Between 1989 and 1992 three colloquia on transformation problems were held at the Ludwig-Reimers-Stiftung, Bad Homburg. At the end of the 1980s the collapse of the Soviet-type socialist economic system had become clear and, hence, the necessity to transform these systems into an entirely different eco nomic order. Similar processes have happened and still happen in other his torical constellations, for instance in developing countries. It has been the aim of the Transformation Colloquium to gain more theoretical insight into these phenomena. The object of research has been transformation defined as transition from a given economic order (socialist planned economy e.g.) to a consistent new or der (market economy). This is a highly complex phenomenon which occurred, above all, during the 20th century: introduction and abolition of socialist sys tems, transition from war economies to peace-time market economies. Histori cal experience allows perhaps for certain generalizing abstractions. The central problem discussed at all (up to now) three colloquia is the question whether the object is amenable for theoretical analysis and which approaches eventually are promising.
Author: Pawel H. Dembinski
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 272
Get Book Here
Book Description
This timely book examines and seeks to explain the inner contradictions of centrally planned economies and shows how the seeds of their collapse had existed within the system from the very start. The author shows how the orthodox ideological principles of the system rendered it inflexible and incapable of reform and thus unable to transform itself into an efficient modern economy. Though the system as such has ceased to exist, it is as yet only the rules that have disappeared--the system's components continue to exist and, the author argues, a proper understanding of the origins and previous functions of each component is necessary if it is to be integrated into the new system.
Author: Jan S. Kowalski
Publisher:
ISBN:
Category :
Languages : de
Pages : 92
Get Book Here
Book Description
