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Author: GERARD ROLAND & THIERRY VERDIER
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
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Book Description
Author: GERARD ROLAND & THIERRY VERDIER
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
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Book Description
Author: Gérard Roland
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We present a model to explain why in the transition economies of Central and Eastern Europe an important output fall has been associated with price liberalization. Its key ingredients are search frictions and Williamsonian relation-specific investment, implying that new investments are made only after having found a new long-term partner. When all firms search for new partners, output may fall because of three effects: a) disruption of previous production links, b) a fall in investment, and c) capital depreciation due to the absence of replacement investment. We show that forms of gradual liberalization like the Chinese "dual-track" price liberalization may avoid the transitory output fall.
Author: Gérard Roland (économiste).)
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Gérard Roland
Publisher: MIT Press
ISBN: 9780262681483
Category : Business & Economics
Languages : en
Pages : 440
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Book Description
The transition from socialism to capitalism in former socialist economies has transformed the economic structure. This book provides an overview of research on the issues raised by the shift from collective to private ownership.
Author: Daniel Linotte
Publisher:
ISBN:
Category :
Languages : en
Pages : 19
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451974396
Category : Business & Economics
Languages : en
Pages : 79
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Book Description
This paper presents a detailed analysis of the output decline in Kazakhstan in the early years of the transition. The decline is documented at the aggregate and sectoral levels, and the quality of the available data is reviewed. A growth accounting framework quantifies the productivity slowdown in Kazakhstan and illustrates how excessive capital accumulation under central planning has contributed to the output decline. In addition, strong evidence is found that disorganization and inherited sectoral misallocation have played a significant role. Credit contractions and reductions in aggregate demand may have had an effect, but clear patterns of causality cannot be established.
Author: Nauro F. Campos
Publisher:
ISBN:
Category :
Languages : en
Pages : 19
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Book Description
Author: Nauro F. Campos and Fabrizio Coricelli
Publisher:
ISBN:
Category :
Languages : en
Pages : 75
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Author: Mr.Ernesto Hernández-Catá
Publisher: International Monetary Fund
ISBN: 145196997X
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
This paper deals with liberalization and the evolution of output during the transition from plan to market. It explains why strong liberalization leads to a comparatively steep fall in output early in the transition, but a relatively strong recovery later on. Because it takes time to restructure the capital stock inherited from the old system, liberalization initially leads to transitional unemployment of capital and the contraction of the old enterprise sector. By making room quickly for the new, more efficient enterprises, however, liberalization also sets the stage for recovery and a much higher level of income in the medium term.
Author: Andrew Berg
Publisher:
ISBN:
Category : Europe, Central
Languages : en
Pages : 88
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Book Description
Aims to account for both the common transition experience in the time dimension i.e. the U-shaped output profile and the considerable cross-country differences in output paths in terms of three main groups of exlanatory factors.
