Transforming Centrally Planned Economies
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Obstacles To Transforming Centrally Planned Economies
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Author : Mr.Jacob A. Frenkel
language : en
Publisher: International Monetary Fund
Release Date : 1991-07-01
Obstacles To Transforming Centrally Planned Economies written by Mr.Jacob A. Frenkel 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 1991-07-01 with Business & Economics categories.
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.
Transformation Of A Centrally Planned Economy
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Author : Walter Albert Szuja
language : en
Publisher:
Release Date :
Transformation Of A Centrally Planned Economy written by Walter Albert Szuja and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with Economics categories.
Obstacles To Transforming Centrally Planned Economies
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Author : Guillermo A. Calvo
language : en
Publisher:
Release Date : 2010
Obstacles To Transforming Centrally Planned Economies written by Guillermo A. Calvo 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.
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.
On The Theory And Policy Of Systemic Change
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Author : Hans-Jürgen Wagener
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
On The Theory And Policy Of Systemic Change written by Hans-Jürgen Wagener and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
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.
Challenges Faced In Transforming From A Centrally Planned To A Market Economy
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Author : Zongxian Yu
language : en
Publisher:
Release Date : 1993
Challenges Faced In Transforming From A Centrally Planned To A Market Economy written by Zongxian Yu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Capitalism categories.
Challenges Faced In Transforming From A Centrally Planned To A Market Economy
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Author : Tzong-shian Yu
language : en
Publisher:
Release Date : 1993
Challenges Faced In Transforming From A Centrally Planned To A Market Economy written by Tzong-shian Yu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.
From Centrally Planned To Market Economies
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Author : Guillermo Calvo
language : en
Publisher: International Monetary Fund
Release Date : 1991-02
From Centrally Planned To Market Economies written by Guillermo Calvo 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 1991-02 with Business & Economics categories.
This paper deals with the early stages of transformation of centrally-planned economies (CPEs) into market economies during which expectations play a key role. It focuses on the transitional phase during which the economy is not any more a CPE but has not yet become a market economy. During this phase the economy is referred to as a “previously centrally-planned economy” (PCPE). A simple model is developed to analyze the consequences of expected price liberalization. The CPEs undergoing transformation lack depth and breadth of financial markets. The analysis illustrates the benefits from an early development of such markets. It demonstrates the cost of a fine-tuning strategy and the benefits from a quick implementation of price reform. The paper also examines means to reduce “liquidity overhang,” and shows that they involve taxation of one form or another. The consequences of privatization are analyzed and the benefits from an early development of an effective tax system highlighted.
From Centrally Planned To Market Economies
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Author : Jacob A. Frenkel
language : en
Publisher:
Release Date : 2006
From Centrally Planned To Market Economies written by Jacob A. Frenkel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper deals with the early stages of transformation of centrally-planned economies (CPEs) into market economies during which expectations play a key role. It focuses on the transitional phase during which the economy is not any more a CPE but has not yet become a market economy. During this phase the economy is referred to as a quot;previously centrally-planned econonyquot; (PCPE). A simple model is developed to analyze the consequences of expected price liberalization. The CPEs undergoing transformation lack depth and breadth of financial markets. The analysis illustrates the benefits from an early development of such markets. It demonstrates the cost of a fine-tuning strategy and the benefits from a quick implementation of price reform. The paper also examines means to reduce quot;liquidity overhang,quot; and shows that they involve taxation of one form or another. The consequences of privatization are analyzed and the benefits from an early development of an effective tax system highlighted.
Centrally Planned Economies
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Author : Libor Žídek
language : en
Publisher: Routledge
Release Date : 2019-05-14
Centrally Planned Economies written by Libor Žídek and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-14 with Business & Economics categories.
Offering a retrospective view of how the system operated in Communist Czechoslovakia, this book is an important voice in the discussion about the systems of central planning. The unique features of the book include in-depth research comprising both archival records and analyses of around 75 interviews conducted with period managers across a wide range of management levels. They provided evidence of pervasive inefficiency resulting in appalling economic outcomes. The book begins with a background to the politico-sociological system in Czechoslovakia and proceeds to describe the Marxist-Leninist ideological foundation of the regime, which underpinned the formal setting of the Czechoslovak model. These initial chapters set the context for the subsequent analysis of the real functioning of the system. The book explores the economic outcomes that must be understood as a natural consequence of the ways in which this system operated. The author finishes by answering the important question of why centrally planned economies trailed behind the market economies. The book’s unique use of the interview research format brings a vivid, close-up view of the everyday economic life in the centrally planned system. This will be a valuable contribution to the discussion surrounding the day-to-day reality of the system, which was found to be more colourful than is generally deemed. The book will appeal to both economic historians and students of economic history. A warning against repeating past mistakes, this book will also be of interest to those seeking a greater knowledge of the realities and consequences of centrally planned economies.
Reforming Planned Economies In An Integrating World Economy
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Author : Barry P. Bosworth
language : en
Publisher: Brookings Institution Press
Release Date : 2000-07-26
Reforming Planned Economies In An Integrating World Economy written by Barry P. Bosworth and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-07-26 with Business & Economics categories.
The still chaotic states of the former Soviet Union, a growing China, and the divergent nations of Eastern Europe are striving to radically transform their economies. In their quest to become more integrated with the global economy, they are making historic changes to move toward market-based, private-enterprise systems. In this book, Barry P. Bosworth and Gur Ofer provide a balanced assessment of the progress of integration among the formerly centrally planned economies. So far, the results of the reform process range from amazing success in China to economic and political disarray in the states of the former Soviet Union. The authors outline the key issues that any successful reform program must address and the sequence in which these reforms should take place. A volume of Brookings' Integrating National Economies Series