Sequencing and Speed of Reforms in an Economic Liberalization Programme PDF Download
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Author: Emanuela Di Gropello
Publisher:
ISBN:
Category : Chile
Languages : en
Pages : 68
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Book Description
Author: Emanuela Di Gropello
Publisher:
ISBN:
Category : Chile
Languages : en
Pages : 68
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Book Description
Author: Saleh M. Nsouli
Publisher: International Monetary Fund
ISBN:
Category : Developing countries
Languages : en
Pages : 44
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Book Description
Author: Jerzy Wilkin
Publisher:
ISBN:
Category : Former Soviet republics
Languages : en
Pages : 48
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Book Description
Author: Richard W. T. Pomfret
Publisher:
ISBN:
Category : China
Languages : en
Pages : 32
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Author: Mr.Hans Genberg
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
This paper discusses issues related to the sequencing of the reforms that are necessary to transform the economies in Eastern Europe into market economies. It is first argued that the transition path of these economies will be smoother and less costly if a clear statement of the ultimate goals of the reforms is made at the outset. Interdependence between different aspects of the reforms implies that an appropriate strategy is to move on a broad front from the very beginning of the transformation process dealing simultaneously with macroeconomic stabilization, price reforms and convertibility, and privatization of state enterprises. It is also argued that a rapid reform process is preferable to a gradual one.
Author: Karsten Staehr
Publisher:
ISBN: 9789516868519
Category :
Languages : en
Pages : 31
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Book Description
Growth regressions have provided important insights into the impact of economic reforms on growth in transition economies. Using principal components to decompose reform variables and construct reform clusters, we address unsettled issues such as the importance of sequencing and reform speed. The results indicate a broad-based reform policy is good for growth, but so is a policy of liberalisation and small-scale privatisation without structural reforms. Conversely, large-scale privatisation without adjoining reforms, market opening without supporting reforms and bank liberalisation without enterprise restructuring affect growth negatively. Swift reform policies allow transition countries to benefit from higher growth for a longer period of time. The speed of reforms otherwise appears to have only limited effects on short-term and medium-term growth. Published in: The European Journal of Comparative Economics, Vol. 2, n. 2, 2005, pp. 177-202, ISSN 1824-2979.
Author: Mr. Antonio Spilimbergo
Publisher: International Monetary Fund
ISBN: 1451987161
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
Author: Jagdish Bhagwati
Publisher: University of Chicago Press
ISBN: 0226045404
Category : Business & Economics
Languages : en
Pages : 421
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Book Description
These papers, by a number of leading international-trade theorists, present the first significant theoretical work to be done on a topic of considerable interest, import competition. Nine theoretical papers, on topics ranging from protectionist lobbying to adjustment costs, are synthesized in the editor's Introduction, which also contrasts these contributions with the traditional classroom analysis of import competition. Three major empirical studies close the volume. It will prove indispensable for anyone who wishes to think clearly about import competition and about how economies do—and should—respond to it.
Author: Mr.Dimitri G. Demekas
Publisher: International Monetary Fund
ISBN: 9781557751904
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
This paper outlines the main characteristics and the development of the centrally planned economic sysetm in Romania before the beginnings of the transition to a market eonomy it then presents the design, objectives, and implementation of the reform program.
Author: Mr.Bart Turtelboom
Publisher: International Monetary Fund
ISBN: 1451939183
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
This paper undertakes a survey of theoretical considerations and an analysis of the experience of five African countries with interest rate liberalization. Despite substantial progress in monetary policy reforms, liberalization has only partially affected the level and variability of interest rates. Several factors—macroeconomic instability, oligopolistic financial markets, the absence of developed capital markets, as well as the sequencing of the liberalization programs and the asymmetric availability of information—explain the increase in the spread between lending and deposit rates as well as the rather inflexible pattern of interest rates during the transition to a market-based financial system.
