2 edition of Fiscal adjustment and stabilization policies in Eastern Europe found in the catalog.
Fiscal adjustment and stabilization policies in Eastern Europe
Grzegorz W. KoЕ‚odko
Includes bibliographical references (p. 17-19).
|Statement||Grzegorz W. Kołodko, Danuta Gotz-kozierkiewicz.|
|Series||Working papers / Institute of Finance ;, no. 24, Working papers (Instytut Finansów (Poland)) ;, no 24.|
|LC Classifications||HG186.P7 W67 no. 24, HJ1050.7 W67 no. 24|
|The Physical Object|
|Pagination||19 p. :|
|Number of Pages||19|
|LC Control Number||92138889|
Defense Economic Adjustment, Diversification, Conversion, and Stabilization Act of H.R. Joint Hearing Before the Subcommittee on Economic Stabilization of the Committee on Banking, Finance, and Urban Affairs, and the Subcommittee on Environment and Labor of the Committee on Small Business, House of Representatives, One Hundred First Congress, Second Session, Paramount, CA, . Eastern Europe, in its transition to a market economy, is currently having its share: Poland and Yugoslavia have already had double-digit monthly inflation; Bulgaria and the Soviet Union may be next.
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The contributions to this volume reflect the recent research on this issue by various specialists on the economies of the Soviet Union and Eastern Europe.
Each author emphasizes macroeconomic Reviews: 1. Central and eastern Europe Fiscal policy is critical for the success of stabilization efforts, and the transition process itself has important implications for government budgets.
A key aspect of the fiscal adjustment process has been the reduction in government expenditures. 52 The transition countries—especially those in central. This chapter examines adjustment, stabilization, and liberalization in the economies of transition since the late s and early s, especially China, Russia, and other states in the former Soviet Union and Eastern : E.
Wayne Nafziger. In the s a large number of Latin American countries undertook stabilization and structural adjustment programmes similar, though smaller in magnitude, to the ones that Eastern Europe is now undergoing.
In this book, economists from four different Eastern European countries analyze the relevance of the Latin American experience for their own. Fiscal Policy and Economic Growth Share Page. Add to Favorites DEBT DYNAMICS, ECONOMIC GROWTH, EFFICIENCY OF PUBLIC SPENDING, FISCAL ADJUSTMENT, FISCAL DEFICITS, FISCAL STABILIZATION, PUBLIC FINANCE, TAX SYSTEM.
Fiscal Policy and Economic Growth: Lessons for Eastern Europe and Central Asia. Published: June ISBN: e. The two papers draw from the brief yet radical reform experiences of five countries-Bulgaria, former Czechoslovakia, Hungary, Poland, and Romania.
The first paper describes the financial sector reforms untertaken by these countries since the s, as well as the Fiscal adjustment and stabilization policies in Eastern Europe book encountered.
It also discusses the roles privatization, stabilization policies, and prudential supervision can play in the. The case studies in this book examine significant parallels between the situation in Eastern Europe today and the issues facing Europe and Japan after World War II, offering insights on what kinds of policy actions will be most effective in this difficult period of reconstruction.
The breakup of the Soviet Union and the consequent extraordinary problems faced by Eastern European nations raise. In addition to the Introduction, Chapter II provides an overview of macroeconomic and structural adjustment policies mainly since Chapter III surveys issues regarding the choice of exchange rate regimes in the Baltic countries, including recent experience, current challenges, and medium-term policy options.
Chapter IV covers three broad fiscal issues: the evolution of the budget. The case studies in this book examine significant parallels between the situation in Eastern Europe today and the issues facing Europe and Japan after World War II, offering insights on what kinds of policy actions will be most effective in this difficult period of breakup of the Soviet Union and the consequent extraordinary problems faced by Eastern European nations raise.
This chapter discusses the role of structural adjustment, stabilization, and policy reform on domestic and international finance. Structural adjustment programs generally start with a conventional stabilization program, intended to restore the viability of the current account and the budget, but they are distinguished from pure stabilization programs by the inclusion of a set of.
We focus on the role of fiscal policies in macroeconomic stabilization in eastern Europe and assess the sustainability of fiscal policies for the central and eastern European economies in transition. We show the main causes of fiscal imbalances experienced at the beginning of the transition process.
Countries that adopted tight fiscal policies were more successful with their inflation. This chapter analyzes the efforts to establish the credibility of both fiscal and nominal anchors in the aftermath of sharp stabilization as well as the ongoing structural reform process.
It begins with an analysis of the initial stabilization phase, and then considers various alternative interpretations of the business-cycle phenomenon. It defends the real fundamentals, namely the. Get this from a library. Fiscal policy and economic growth: lessons for Eastern Europe and Central Asia.
[Cheryl Williamson Gray; Tracey Lane; Aristomène Varoudakis;] -- "All governments face complex choices in fiscal policy that inevitably affect economic growth, income distribution, and poverty rates in their countries.
This study explores fiscal policies in. This study explores public finance policies in the transition countries of Europe and Central Asia (ECA) and their likely effects on economic growth. The analysis is organized in three parts. Part one reviews public finance systems across the ECA region with regard to overall size, structure of.
Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target. Budina and van Wijnbergen develop a simple framework for debt, the deficit, and inflation to study the interactions between fiscal and monetary policy.
Danuta Gotz-Kozierkiewicz's 10 research works with 23 citations and 26 reads, including: Fiscal Adjustment and Stabilization Policies: The Polish Experience. Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since In addition, the effects of delayed fiscal adjustment were mitigated by exchange rate overvaluation and favorable debt dynamics.
Fiscal Deficits, Monetary Reform, and Inflation Stabilization in Romania. Policy Research. t4)5 -4 9e POLICY RESEARCH WORKING PAPE R Fiscal Deficits, Monetary Fiscal problems are a key Re form, and Inflation factor behind the inflation that has perststed in Eastern Stabililzation Stabilization in in Romania 1R*m*n*iEurope since Deficts need to be cut back, but by.
9 Id.; see also Finn Tarp, Stabilization and Structural Adjustment: Macroeconomic Frameworks for Analysing the Crisis in Sub-Saharan Africa, 2 (Taylor and Francis e-library, 3rd ed.
10 Elizabeth Justice, The African Union: Building a Dream to Facilitate Trade, Development and Debt Relief, Downloadable. Unsustainable fiscal deficits were the chief reason for the inflation that has persisted in Eastern Europe since Deficits need to be cut back, but by how much for a given inflation target.
The authors develop a simple framework for debt, the deficit, and inflation to study the interactions between fiscal and monetary policy in Romania's economy. The main target of fiscal adjustment in a distorted market economy is associated with the elimination of inflationary pressure stemming from persistent fiscal deficits.
The Emergence of Market Economies in Eastern Europe, Cambridge, Ma. and Oxford, UK D. and G.W. Kolodko,“Fiscal Adjustment and Stabilization Policies: The Polish.
fiscal and monetary policy, the required deficit reduction, representing the difference between funding requirements and funding sources, given the target debt-output ratios and the real output growth rates.
We discuss the medium term impact of real exchange rate depreciation and delayed fiscal adjustment on our measure of fiscal sustainability. As the financial crisis shakes the foundations of policy making in Europe and beyond, this book will help understand why countries' budgetary policies will react in different ways and how fiscal institutions may evolve as a response to new economic and policy challenges.'.
The Economies of the Balkan and Eastern Europe Countries in the Changed World ix The initial adaptation period gave its place to a deep crisis. During the global economic crisis of the developing Europe initially showed significant resilience, but later on the exporting performance of the.
A disadvantage in this scenario is the fact that the EBL fixes the exchange rate using money supply. Therefore, the monetary instrument is no longer available for stabilization purposes. Just as in the section on dynamic policy optimization in eastern Europe, a temporary oil price shock is.
stabilization lessons from Latin Asierica for Easter Europe. In Section IV I provide the conclusions, including some remarks on structural reforms and privatization policies. Stabjlixation and Liberalization In Eastern Europe: Probleits. Controversies and Policies The initial conditions faced by reformers in Eastern Europe and the.
Book, Internet Resource: All Authors / Contributors: Hansjörg Herr fiscal and exchange rate policies for the transformation process / Jan A.
Kregel --A comment on Kregel / Hajo Riese --Stability and credibility in the transition process of the previously # Economic stabilization--Europe, Eastern\/span>\n \u00A0\u00A0\u00A0\n. tries in Eastern Europe, the Baltics, and the other countries of the FSU, the private sec- tries, once initial stabilization policies took hold, the parallel market exchange tries to achieve fiscal adjustment was to cut expenditures, mainly by lowering real labor costs, eliminating subsidies for consumers.
Experience and perspectives of financial sector development in Central and Eastern Europe. In: Winkler A, editor. Banking and monetary policy in Eastern Europe: The first ten years. Basingstoke: Palgrave Macmillan; p. EndNote XML; BibTex; Google Scholar. Based on their experience with stabilization policies in other countries, the authors show how Eastern Europe can reduce unemployment during the painful adjustment process, create effective and socially acceptable mechanisms to subject enterprises to market discipline, and replace barter trade under CMEA with market-based international trade.
Decentralization of the socialist state: intergovernmental finance in transition economies (英语) 摘要. The objective of this book is to provide a systematic review and analysis of intergovernmental fiscal issues and policies in seven countries in Eastern Europe and the former Soviet Union.
importance of quantitative fiscal adjustment to * Initial conditions allowed Central European and stabilization outcomes. Less attention has been paid to Baltic countries to maintain higher expenditures, the qualitative dimensions of fiscal adjustment in which may have contributed to their faster economic transition.
Structural Adjustment (Economic Policy)--Europe, Eastern Structural Adjustment (Economic Policy)--Former Soviet Republics Post-Communism--Economic Aspects--Europe, Eastern. BUDGETARY ASPECTS OF STABILIZATION AND STRUCTURAL ADJUSTMENT IN INDIA: THE PAINFUL ROAD TO A SUSTAINABLE FISCAL-FINANCIAL-MONETARY PLAN Willem Buiter and Urjit Patel* Page 1.
Introduction 1 2. Evaluating Solvency 5 3. The Fiscal Adjustment Needed to Ensure Solvency 22 4. Recourse to the Inflation Tax 31 5. This book, by a participant in the events, examines the causes of very high inflation and large fall in statistically measured output in the post-Communist countries of Central and Eastern Europe and the former Soviet Union.
Macrofinancial Stability in Central, Eastern and Southeastern Europe - Virtual Training MFS. TARGET GROUP | Junior to mid-level managers as well as senior economists and financial stability experts working at central banks and ministries of finance in the area. An analysis of the political and economic implications of system transformation as experienced in Central and Eastern Europe and China.
Key topics discussed include the policy aspects of privatization, industrial restructuring and the adjustment of fiscal systems and policies. (source: Nielsen Book Data). Fiscal Adjustment in Greece under the Financial Rescue Programme: The Distributional Effects on Greek Households Applied Economics Letters, JulyVol Is Pages It will analyze the main features and impacts of the global crisis and the crisis transmission channels to emerging Europe and SEE, paying particular attention to the role of the financial sector.
Session II dealt with short term policy responses to the crisis, assessing the monetary and fiscal macroeconomic tools. A comparison of the Chilean and Mexican stabilization programs suggest that the use of exchange rate anchors will be more effective (and more credible) if the fixing of the exchange rate is accompanied by other policies geared at breaking inertia.
Among these policies the most important one is the abandonment of wage rate indexation practices. Highlights Stabilizers stronger in Europe than in US, effectiveness depends on type of shock. Large heterogeneity within Europe, weak stabilizers in Southern and Eastern Europe. Possible range for demand stabilization taking into account liquidity constraints.
Stabilizers positively (negatively) correlated with openness (active fisc. policy). The Economic Potential of a Larger Europe gives insights into past, present and future issues related to the ongoing EU enlargement process. Providing a unique forum for debate and a multiplicity of views and experiences from both high-profile academics and those who engage with enlargement on an implementation level, this book covers a wide range of topics that are key to a .policy interests, (2) the heavy emphasis on assistance to the private supporting stabilization and structural adjustment programs and providing enterprise funds for private sector development, (2) bringing the countries into the world Eastern Europe to the extent that they differed from the Soviet Union.
The policy now tailors U.S.