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Author : Patrick Conway
Publisher :
ISBN 13 :
Total Pages : 59 pages
Book Rating : 4.:/5 (464 download)
Download or read book Saving in transition economies : the sumary report written by Patrick Conway and published by . This book was released on 1995 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4./5 ( download)
Download or read book Household Savings in Transition Economies written by and published by World Bank Publications. This book was released on with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Cevdet Denizer
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4./5 ( download)
Download or read book The Savings Collapse During the Transition in Eastern Europe written by Cevdet Denizer and published by World Bank Publications. This book was released on 2000 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transition economies of Eastern Europe almost uniformly experienced a precipitous plunge in savings rates - from levels above 30 percent of GDP to levels about half that - early in the transition, before rebounding slightly. Did savings collapse because involuntary savings were eliminated (when goods became available for purchase) or because of a change in equilibrium savings, reflecting the changed economic circumstances and long-term prospects?
Author : Cevdet Denizer
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (318 download)
Download or read book Household Savings in Transition Economies written by Cevdet Denizer and published by . This book was released on 2000 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Bulgaria, Hungary, and Poland, the higher the relative household income is, the higher the savings rate is. But, surprisingly, savings rates appear to be unaffected by either sector of employment (public or Private) or form of employment. Savings rates are significantly higher for households that do not own their own homes or that own few of the standard consumer durables - possibly because, with no retail credit or mortgage markets, households must save to purchase houses and durables.
Author : Aleksandr V. Gevorkyan
Publisher : Routledge
ISBN 13 : 1317567943
Total Pages : 317 pages
Book Rating : 4.3/5 (175 download)
Download or read book Transition Economies written by Aleksandr V. Gevorkyan and published by Routledge. This book was released on 2018-04-17 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interdisciplinary study offers a comprehensive analysis of the transition economies of Central and Eastern Europe and the former Soviet Union. Providing full historical context and drawing on a wide range of literature, this book explores the continuous economic and social transformation of the post-socialist world. While the future is yet to be determined, understanding the present phase of transformation is critical. The book’s core exploration evolves along three pivots of competitive economic structure, institutional change, and social welfare. The main elements include analysis of the emergence of the socialist economic model; its adaptations through the twentieth century; discussion of the 1990s market transition reforms; post-2008 crisis development; and the social and economic diversity in the region today. With an appreciation for country specifics, the book also considers the urgent problems of social policy, poverty, income inequality, and labor migration. Transition Economies will aid students, researchers and policy makers working on the problems of comparative economics, economic development, economic history, economic systems transition, international political economy, as well as specialists in post-Soviet and Central and Eastern European regional studies.
Author : Patrick Conway
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (913 download)
Download or read book Saving in Transition Economies: The Summary Report written by Patrick Conway and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: September 1995 Savings in transition economies have declined since independence, but something else has happened, too: Financial assets have shifted from bank deposits to alternative financial instruments, including foreign currency, trust company shares, and private loans. Government are not typically prepared to borrow savings from these new instruments since they are denominated in foreign currency or are offered only at positive real interest rates. That attitude must change if governments are to make needed investments in infrastructure and to avoid creating inflationary credit. The stimulation of private saving is essential to both stabilization and structural adjustment in the transition economies. Private saving in these countries has declined sharply since independence, and this decline has been a factor in the onset of extreme inflation because governments have resorted to an inflation tax to finance deficit spending. Conway examines evidence on spending in Belarus, Georgia, Kazakhstan, and Ukraine. He examines decisions about whether to save, and in which specific financial or real instruments. He summarizes the evolution of financial sectors in these countries to provide a history of the success or failure of financial institutions to intermediate between private savers and the government as borrower. He concludes that private saving has indeed declined since independence, but less than is indicated by banking-system statistics. Concurrent with this downturn has been a shifting of financial assets from bank deposits to alternative financial instruments, including foreign currency, trust company shares, and private loans. The financial sector has reacted slowly to this change, but the most successful commercial banks have recognized the change in demand for financial instruments and have accommodated the savers. The state commercial banks -- especially the successor to the Soviet Saving Bank -- have been slow to adjust to the new environment. As a result, the near-monopoly that bank once held on deposits has been rapidly eroded. Government methods for mobilizing funds must change, contends Conway. Governments are not typically prepared to borrow savings from these new instruments, since they are denominated in foreign currency or are offered only at positive real interest rates. That attitude must change if governments are to make needed investments in infrastructure and to avoid creating inflationary credit. This paper --a product of the Country Operations Division, Europe and Central Asia, Country Department IV -- is part of a larger effort in the region to analyze credit markets and savings in transition economies. The study was funded by the Bank's Research Support Budget under the research project Credit Markets and Savings Mobilization in Transition Economies (RPO 679-07).
Author : Patrick J. Conway
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (318 download)
Download or read book Saving in Transition Economies written by Patrick J. Conway and published by . This book was released on 1995 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Patrick J. Conway
Publisher : Springer Science & Business Media
ISBN 13 : 1461515734
Total Pages : 366 pages
Book Rating : 4.4/5 (615 download)
Download or read book Crisis, Stabilization and Growth written by Patrick J. Conway and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: List of Figures. List of Tables. List of Symbols. List of Country Acronyms. Foreword and Acknowledgements. I. The Transition Economies. II. Saving, by Plan and in the Market. III. Considering the Competing Explanations of Transition in Inflation and Economic Growth. IV. The Inflationary Explosion Following Price Liberalization. V. The Crisis Years. VI. Directed Credits and Financial Repression in Belarus. VII. Stabilization in Transition Economies. VIII. Ukraine in the Stabilization Phase. IX. Georgia: from Crisis to Stabilization .. and Then? X. The Fallout of the Russian Financial C.
Author : Cevdet Denizer
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Savings Collapse During the Transition in Eastern Europe written by Cevdet Denizer and published by . This book was released on 2016 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transition economies of Eastern Europe almost uniformly experienced a precipitous plunge in savings rates - from levels above 30 percent of GDP to levels about half that - early in the transition, before rebounding slightly. Did savings collapse because involuntary savings were eliminated (when goods became available for purchase) or because of a change in equilibrium savings, reflecting the changed economic circumstances and long-term prospects?Denizer and Wolf assess the presence and extent of involuntary savings by comparing the predicted savings rates of market economies with those of the pre-transition economies. On balance, predicted savings rates fell short of actual savings rates, especially for the former Soviet Union and the Baltics - providing some support for the notion of excessive pre-transition savings.Comparing the savings behavior of market economies and transition economies, they found substantial similarities, except for a negative link between savings and GDP growth. As the fastest-growing transition economies are at the bottom of the adjustment J-curve, the finding is consistent with consumption smoothing.Finally, they explored whether differences in the extent of economic liberalization affected savings rates in the cross-section of transition economies. They found that liberalization is associated with lower savings, with a one-year lag. To the extent that liberalization is perceived as an indicator of likely future growth, this behavior is consistent with smoothing in the face of a J-curve change in output.This paper - a product of the Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Region - is part of a larger effort in the region to understand the determinants of savings during the transition to a market economy. Cevdet Denizer may be contacted at [email protected].
Author : Abdur R. Chowdhury
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (525 download)
Download or read book Private Savings in Transition Economies written by Abdur R. Chowdhury and published by . This book was released on 2003 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Abdur R. Chowdhury
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.L/5 ( download)
Download or read book PRIVATE SAVINGS IN TRANSITION ECONOMICS: ARE THERE TERMS OF TRADE SHOCKS ? written by Abdur R. Chowdhury and published by . This book was released on 2003 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : UN. ECE. Economic Analysis Division
Publisher :
ISBN 13 :
Total Pages : 11 pages
Book Rating : 4.:/5 (788 download)
Download or read book Financing Growth and Development in the Transition Economies written by UN. ECE. Economic Analysis Division and published by . This book was released on 2000 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Klaus Schmidt-Hebbel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 188 pages
Book Rating : 4.F/5 ( download)
Download or read book Saving Across the World written by Klaus Schmidt-Hebbel and published by World Bank Publications. This book was released on 1997 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Bank Technical Paper No. 349. The Bank's approach to water resources development has shifted from one of construction activities to one of improved management quality, creating a new generation of water-related projects and the need for new evaluation procedures. This paper addresses the methodology for economic evaluation of this new group of projects and draws on the experience of the recently approved Mexico Water Resources Management project.
Author : Elodie Douarin
Publisher : Springer Nature
ISBN 13 : 3030508889
Total Pages : 982 pages
Book Rating : 4.0/5 (35 download)
Download or read book The Palgrave Handbook of Comparative Economics written by Elodie Douarin and published by Springer Nature. This book was released on 2021-02-13 with total page 982 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to define comparative economics and to illustrate the breadth and depth of its contribution. It starts with an historiography of the field, arguing for a continued legacy of comparative economic systems, which compared socialism and capitalism, a field which some argued should have been replaced by institutional economics after the fall of the Berlin Wall. The process of transition to market capitalism is reviewed, and itself exemplifies a new combination of comparative analysis with a focus on institutional development. Going beyond, chapters broadening the application of comparative analysis and applying it to new issues and approaches, including the role and definition of institutions, subjective wellbeing, inequality, populism, demography, and novel methodologies. Overall, comparative economics has evolved in the past 30 years, and remains a powerful approach for analyzing important issues.
Author : Jeffrey Sachs
Publisher : Center for Social & Economic Research
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.F/5 ( download)
Download or read book Achieving Rapid Growth in the Transition Economies of Central Europe written by Jeffrey Sachs and published by Center for Social & Economic Research. This book was released on 1996 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the sources of rapid growth in the very fast growing economies in Asia, and the ways in which Central Europe could emulate keys aspects of their economic policies in order to raise their growth rates.
Author : J. Michael Lea
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (913 download)
Download or read book Contractual Savings for Housing written by J. Michael Lea and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: September 1995 Problems of developing specialized financial services for housing are acute in socialist economies in transition. Contractual savings for housing (CSH) are often advocated in Central and Eastern European countries as a primary solution. CSH systems were indeed used successfully in Europe for reconstruction after World War II. The issue today is what role CSH can play under very different financial conditions in latecomer countries that want to develop competitive and flexible financial systems capable of successfully integrating with the global financial markets. Problems of developing financial services for housing are acute in transitional socialist economies. Lea and Renaud examine contractual savings for housing (CSH), which are often advocated as a primary solution, especially in Central and Eastern European countries. A CSH instrument links a phase of contractual savings remunerated at below-market rate to the promise of a housing loan at a rate also fixed below market at the time the contract is signed. This contract can contain a variety of options. CSH were used very successfully in Europe after World War II. The issue today is not whether such specialized instruments can work. They clearly can under low inflation. The issue is whether CSH systems are advisable today in latecomer countries with vastly different financial technology and financial policy environments. Lea and Renaud focus on two influential CSH systems: the closed German Bauspar system and the open French épargne-logement. In a closed CSH system, access to a housing loan is based on queuing: a loan can be made only if funds are available in the specialist institution. In an open system, the saver can legally call his or her loan at contract maturity, regardless of the liquidity conditions in the CSH system. From the perspective of households, CSH contracts facilitate the accumulation of equity and offer the prospect of a low-interest loan. They promote savings discipline and provide a concrete goal that many households find important. But CSH instruments leave the objective of providing a primary loan unmet. In addition, even moderate inflation quickly leads to very low loan-to-value ratios for CSH loans and a large financing gap for housing purchases. From the perspective of financial institutions, CSH can help overcome the severe information asymmetries they face in transitional socialist economies, where there are no retail financial markets, no credit bureaus, and problematic income reporting. CSH are very effective in screening, monitoring, and establishing the reputation of steady savers as future borrowers, and they are good at lowering credit risks. With their saving periods of four to five years, CSH also help bridge the gap between long-term loans and short-term deposits. Finally, CSH can be an important commercial tool for developing cross-lending activities. But CSH can be risky. When the interest rate on outstanding contracts is low compared with current market rates, holders of mature contracts will want to call their loans. And new savers will be reluctant to sign on at very low contract rates. Eliminating this liquidity risk with a closed CSH system erodes the attractiveness of CSH. From the perspective of government, a CSH instrument can work in a noninflationary environment, yet a CSH system would have no justification in fully developed and competitive financial markets today. CSH instruments can play a useful but not a dominant role in housing finance. After stabilization, they can provide additionality, overcome information constraints on financial contracts, and contribute to higher financial savings rates. CSH instruments are best used to finance home improvements. They can also be used as part of a social policy to reach targeted social groups. This paper -- a product of the Financial Sector Development Department -- is part of a larger effort in the department to develop sustainable housing finance in transition economies.
Author : Annamaria Lusardi
Publisher : University of Chicago Press
ISBN 13 : 0226497100
Total Pages : 406 pages
Book Rating : 4.2/5 (264 download)
Download or read book Overcoming the Saving Slump written by Annamaria Lusardi and published by University of Chicago Press. This book was released on 2009-10-15 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: The great majority of working Americans are unprepared to face the difficult task of planning for retirement. In fact, the personal savings rate has been holding steady at zero for several years, down from 8 percent in the mid-1980s. Overcoming the Saving Slump explores the many challenges facing workers in the transition from a traditional defined benefit pension system to one that requires more individual responsibility, analyzing the considerable impediments to saving and evaluating financial literacy programs devised by employers and the government. Mapping the changing landscape of pensions and the rise of defined contribution plans, Annamaria Lusardi and others investigate new methods for stimulating saving and promoting financial education drawing on the experience of the United States as well as countries that have privatized their welfare systems, including Sweden and Chile. This timely volume pinpoints where human resources departments, the financial industry, and government officials have succeeded—or failed—in bridging the way to a new retirement system. As the workforce ages and more pensions disappear each second, Lusardi’s findings will be invaluable for economists and anyone facing retirement.
