Deficit And Debt In Transition
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Deficit And Debt In Transition
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Author : Istvan Benczes
language : en
Publisher: Central European University Press
Release Date : 2014-09-01
Deficit And Debt In Transition written by Istvan Benczes and has been published by Central European University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-01 with Business & Economics categories.
The adjustment problems of public finance in countries of Central and Eastern Europe (CEE) are often misunderstood and misinterpreted by western scholars. This book contributes to the bridging of the gap between what is being thought by external observers and what the actual public finance reality is, as described by competent local scholars. Popular political economy research has remained biased towards advanced countries and has neglected developing and transition economies. Publications on CEE countries? public finances seem to be reluctant to apply the conceptual framework of standard political economy to these countries because of the assumption that CEE economies are different from their Western peers. But is this really the case? Are CEE economies so much different that none of the well-known ?Western? political economy concepts or models can be applied to the analysis of fiscal performance in the region? Benczes demonstrates that they can be safely applied in the context of CEE economies as well. He sees no need to develop a separate or unique theory designed for the study and understanding of (one-time) transition economies. ÿ
Fiscal Deficit And Public Debt In The Western Balkans
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Author : Zsoka Koczan
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-24
Fiscal Deficit And Public Debt In The Western Balkans written by Zsoka Koczan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-24 with Business & Economics categories.
In this paper we analyze how Western Balkans public finances adapted to the boom-bust cycle. Large capital inflows into emerging European economies during the mid-2000s resulted in rapid economic growth and convergence to EU income levels. This also resulted in improved fiscal positions of most countries, on the back of strong revenue performance. Yet, since the onset of the global economic crisis, many countries have struggled to adjust to the new situation of lower external financing and lower growth.
Aspects Of Fiscal Performance In Some Transition Economies Under Fund Supported Programs
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Author : Mr.Willem H. Buiter
language : en
Publisher: International Monetary Fund
Release Date : 1997-04-01
Aspects Of Fiscal Performance In Some Transition Economies Under Fund Supported Programs written by Mr.Willem H. Buiter and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-04-01 with Business & Economics categories.
Key medium– and longer–term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal–financial–monetary program. The paper aims to assist the design and implementation of future Fund programs and to contribute to the debate about fiscal policy in transition economies. After presenting a framework for evaluating the sustainability of the fiscal–financial–monetary program of the state, some numerical material is presented on public debt, (quasi–) fiscal deficits and monetary financing. Eight budgetary issues of special relevance to transition economies are considered next. The lessons from this study are summarized in a number of propositions.
Financial Systems In Transition
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Author : Alexander E Fleming
language : en
Publisher: World Scientific
Release Date : 2000-08-21
Financial Systems In Transition written by Alexander E Fleming and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-08-21 with Business & Economics categories.
It is now ten years since the former Soviet Union collapses and the countries of Europe and Central Asia abandoned central planning. Enough experience has accumulated to allow a more reflective study of the transition period. One of the most critical elements of the transition to a market-based economy has been the establishment of the institutions and markets that constitute a financial system. This book examines financial transition through the lens of flow of funds accounts. These accounts have been used in the OECD countries for many years as an aid in analyzing money flows around their financial systems. This is the first time, however, that an attempt has been made to interpret financial transition from this perspective and it has yielded what the authors consider to be new, useful insights into the processes. The book reviews the evolution of financial systems in eight transition countries: Estonia, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Russia, and Romania. Each chapter draws upon a flow of funds analysis to illuminate the relationship between macroeconomic performance and the evolving pattern of financial flows through the emerging markets and institutions. The introductory chapter discusses the nature of the flow of funds approach and its applicability to transition economies, while another chapter compares and contrasts the macroeconomic and financial performances of the eight countries by focusing on the orientation of sectoral imbalances within each economy and the nature of financing flows associated with them. Contents:The Flow of Funds in a Transition Context (A E Fleming & M M Giugale)The Evolution of Financial Systems in Eastern Europe and Central Asia: An Overview Through the Lens of the Flow of Funds (M M Giugale & A E Fleming)Kazakhstan — Financing Imbalances in a Resource Rich Economy (J Dawson & S Everhart)Romania — Dealing with the Twin Deficit (S J Peachey)Hungary — Tapping Resilient Household Savers (A Kerekes)Russia — A National Unwillingness to Pay for Government (J A Holsen)Estonia — When the Problem is the Private Sector (S J Peachey)Latvia — Finely Balanced for Growth (S J Peachey)Poland — Toward a Sustainable Financing Structure (W M Orlowski)Lithuania — The Persistent Dependency on the State (J Dawson & S Everhart) Readership: Policymakers, practitioners and academicians dealing with economic development, finance and transition issues. Keywords:
Financial Systems In Transition
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Author : Alexander Fleming
language : en
Publisher: World Scientific
Release Date : 2000
Financial Systems In Transition written by Alexander Fleming and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Business & Economics categories.
It is now ten years since the former Soviet Union collapses and the countries of Europe and Central Asia abandoned central planning. Enough experience has accumulated to allow a more reflective study of the transition period. One of the most critical elements of the transition to a market-based economy has been the establishment of the institutions and markets that constitute a financial system. This book examines financial transition through the lens of flow of funds accounts. These accounts have been used in the OECD countries for many years as an aid in analyzing money flows around their financial systems. This is the first time, however, that an attempt has been made to interpret financial transition from this perspective and it has yielded what the authors consider to be new, useful insights into the processes.The book reviews the evolution of financial systems in eight transition countries: Estonia, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Russia, and Romania. Each chapter draws upon a flow of funds analysis to illuminate the relationship between macroeconomic performance and the evolving pattern of financial flows through the emerging markets and institutions. The introductory chapter discusses the nature of the flow of funds approach and its applicability to transition economies, while another chapter compares and contrasts the macroeconomic and financial performances of the eight countries by focusing on the orientation of sectoral imbalances within each economy and the nature of financing flows associated with them.
Macroeconomic Accounting And Analysis In Transition Economies
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Author : Abdessatar Ouanes
language : en
Publisher: International Monetary Fund
Release Date : 1997-06-18
Macroeconomic Accounting And Analysis In Transition Economies written by Abdessatar Ouanes and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-06-18 with Business & Economics categories.
This book, by Abdessatar Ouanes and Subhash Thakur presents the principal elements of macroeconomic accounting and analysis for the real, fiscal, monetary, and external sectors of a transition economy, using Poland as a case study. Background information, exercises, and issues for discussion are also provided.
The Nature Of The Fiscal Crisis In Transition Countries
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Author : Jaroslaw Bauc
language : en
Publisher:
Release Date : 2010
The Nature Of The Fiscal Crisis In Transition Countries written by Jaroslaw Bauc and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Fiscal stance is at the center of economic debate all over the post socialist countries. The most important issues that are more or less realized seem to be following. 1. To what extend will public sector budget deficits be monetized in the future i.e., do they eventually spell inflation?. 2. How can one reconcile the "twin deficits" i.e. the current account and budget deficit with the need for long run growth and the need for servicing the external debt. 3. Is it true, as argued by M. Friedman and R. Barro that the only relevant aspects of the budget are the volume and composition of public spendings on goods and services and that the choice of financing method is irrelevant? 4. Is a financial crowding out of private saving an issue of concern? 5. How do we assess the solvency of a government i.e. how do we evaluate the consistency of the government's spending and revenue plans with its outstanding debt obligations and its inflation objectives? 6. What are the structural and distributional effects of budget deficits? It is not easy to solve these or similar problems in mature developed market economies. Trying to answer to these questions with regards to transition economies appears to be very hard work. Specially if these problems are to be placed within the framework of fiscal crisis. Therefore it seems sensible to start the analysis with describing the nature of fiscal stance in post socialist countries and then use the concept as a background for further more detailed questions.
Transition Report Update
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Author :
language : en
Publisher:
Release Date : 2004
Transition Report Update written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Capitalism categories.
Western Balkan Economies In Transition
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Author : Reiner Osbild
language : en
Publisher: Springer
Release Date : 2018-08-23
Western Balkan Economies In Transition written by Reiner Osbild and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-23 with Business & Economics categories.
This book explores the economic and social development of the Western Balkan region, a group of six countries that are potential candidates for EU membership. It focuses on the key economic issues facing these countries, including the challenge of promoting economic growth, limiting public deficits and debt, and fostering international trade relations. Given the severe impact of the recent economic crisis on social welfare in the region, it also investigates the nature and extent of social exclusion, a factor likely to produce future political instabilities if not effectively addressed by a return to sustainable economic growth. The contributions explore these issues in light of the major influence of EU policy instruments and advice, which are currently guiding the economies along an accession trajectory to future EU membership.
Fiscal Foundation Of Convergence To European Union In Pre Accession Transition Countries
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Author : Laszlo Halpern
language : en
Publisher:
Release Date : 2016
Fiscal Foundation Of Convergence To European Union In Pre Accession Transition Countries written by Laszlo Halpern and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Pre-Accession Transition Countries (PATCs) aim at early admittance to the monetary club. Their fiscal indicators - deficit and debt - do not show any serious symptoms. Closer scrutiny reveals, however, that the interest burden of their public debt might be underestimated, and that restructuring and unavoidable fiscal transparency may increase their debt significantly. All in all about 1 per cent primary surplus might be sufficient to remain on the safe side of their debt in the medium run. According to the estimated model the fiscal adjustment is driven by the external imbalance, the monetary conditions are determined by the fiscal stress and their growth is affected by fiscal and monetary stimuli.Die fiskalpolitischen Grundlagen für die Konvergenz der Transformationsländer hin zur Europäischen Union. Die Transformationsländer wollen möglichst schnell dem monetären Club beitreten. Ihre fiskalischen Indikatoren ? Defizite und Verschuldung ? weisen nicht auf ernsthafte Symptome für Probleme hin. Eine nähere Betrachtung zeigt jedoch, dass die Zinslast ihrer öffentlichen Verschuldung möglicherweise unterschätzt wird und dass eine Restruktierung im Zusammenhang mit einer unvermeidlichen fiskalischen Transparenz die Verschuldung beträchtlich ausweiten wird. Insgesamt wird ein Primärüberschuss von etwa 1 Prozent ausreichend sein, um in der mittleren Frist bei der Verschuldung auf der sicheren Seite zu sein. Nach dem geschätzten Modell wird die fiskalpolitische Anpassung durch das aussenwirtschaftliche Ungleichgewicht bestimmt, die monetären Bedingungen werden durch den fiskalischen Druck determiniert und das Wachstum wird durch fiskalische und monetäre Impulse beinflusst.