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Obstacles To Transforming Centrally Planned Economies
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Book Synopsis Obstacles to Transforming Centrally-Planned Economies by : Mr.Jacob A. Frenkel
Download or read book Obstacles to Transforming Centrally-Planned Economies written by Mr.Jacob A. Frenkel and published by International Monetary Fund. This book was released on 1991-07-01 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Obstacles to Transforming Centrally-Planned Economies by : Guillermo A. Calvo
Download or read book Obstacles to Transforming Centrally-Planned Economies written by Guillermo A. Calvo and published by . This book was released on 2010 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Obstacles to Transforming Centrally-Planned Economies by : Jacob A. Frenkel
Download or read book Obstacles to Transforming Centrally-Planned Economies written by Jacob A. Frenkel and published by . This book was released on 2006 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 quot;cleaningquot; 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, quot;safety nets,quot; and their associated obstacles.
Book Synopsis Challenges Faced in Transforming from a Centrally Planned to a Market Economy by : Tzong-shian Yu
Download or read book Challenges Faced in Transforming from a Centrally Planned to a Market Economy written by Tzong-shian Yu and published by . This book was released on 1993 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Challenges Faced in Transforming from a Centrally Planned to a Market Economy by : Zongxian Yu
Download or read book Challenges Faced in Transforming from a Centrally Planned to a Market Economy written by Zongxian Yu and published by . This book was released on 1993 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Challenges of Transformation and Transition from Centrally Planned to Market Economies by : Kempe R. Hope
Download or read book Challenges of Transformation and Transition from Centrally Planned to Market Economies written by Kempe R. Hope and published by . This book was released on 1998 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On the Theory and Policy of Systemic Change by : Hans-Jürgen Wagener
Download or read book On the Theory and Policy of Systemic Change written by Hans-Jürgen Wagener and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Logic of the Planned Economy by : Pawel H. Dembinski
Download or read book The Logic of the Planned Economy written by Pawel H. Dembinski and published by . This book was released on 1991 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book examines and seeks to explain the inner contradictions of centrally planned economies and shows how the seeds of their collapse had existed within the system from the very start. The author shows how the orthodox ideological principles of the system rendered it inflexible and incapable of reform and thus unable to transform itself into an efficient modern economy. Though the system as such has ceased to exist, it is as yet only the rules that have disappeared--the system's components continue to exist and, the author argues, a proper understanding of the origins and previous functions of each component is necessary if it is to be integrated into the new system.
Book Synopsis Lessons from the Economic Transition by : Salvatore Zecchini
Download or read book Lessons from the Economic Transition written by Salvatore Zecchini and published by Springer Science & Business Media. This book was released on 2013-12-01 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt: An attentive reader embarking on this book might wonder what "the" economic transition to which the title refers might be. In this century almost all countries have gone through periods of economic transition; but which period of economic history can claim to embody the notion or to represent the era of "the" transition? Definitely, no country or group of countries has experienced anything comparable to the economic upheavals that the fall of communism has brought about in a large portion of the world in just three years (1989 to 1991). No other "transition" to date has prompted more interest and more studies among economists, academics and policy-makers than has the transformation of centrally planned economies into market-based systems. It is this transformation that has come to define "the" transition. Early in the transformation process (in November 1990), with the support of the Centre for Co-operation with the Economies in Transition (CCET), I launched a conference to examine the challenges faced by these countries. About six years have gone by and a new economic landscape has emerged in that part of the world. The difficulties in transforming these economies have exceeded all expectations, and economic performances have varied considerably across countries. The time has come, therefore, to make a first evaluation of progress and problems, with a view to extracting useful policy lessons to guide policy-makers in successfully completing the transition in the near future.
Book Synopsis Market-oriented Systemic Transformations in Eastern Europe by : Paul J.J. Welfens
Download or read book Market-oriented Systemic Transformations in Eastern Europe written by Paul J.J. Welfens and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Socialist economies in Eastern Europe have collapsed and em- barked upon market-oriented reforms. The causes of the demise of centrally planned economies are analyzed and the basic challenges of systemic tranformation discussed. Negative income and wealth effects as well as distribution issues make adjustment extremely difficult. The fundamental roles of privatization and foreign investment are adressed. Foreign economic liberalization is considered to be of centralimportance for a growth-oriented adjustment path in a stage of conflict-prone policy and options. Politico-economic aspects of the new European developments in addition to North-South issues are analyzed. Difficult choices await decison-makers in economic policy and the business community in Eastern Europe and in leading market economies.
Book Synopsis Transformation from the centrally planned to the market economy system by : Jan S. Kowalski
Download or read book Transformation from the centrally planned to the market economy system written by Jan S. Kowalski and published by . This book was released on 1992 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reforming Planned Economies in an Integrating World Economy by : Barry P. Bosworth
Download or read book Reforming Planned Economies in an Integrating World Economy written by Barry P. Bosworth and published by Brookings Institution Press. This book was released on 2000-07-26 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Book Synopsis Currency Convertibility and the Transformation of Centrally Planned Economies by : Mr.Joshua E. Greene
Download or read book Currency Convertibility and the Transformation of Centrally Planned Economies written by Mr.Joshua E. Greene and published by International Monetary Fund. This book was released on 1991-03-15 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the problems in establishing currency convertibility- and the optimal timing- in formerly planned economies making the transition to market-oriented systems.
Book Synopsis Government and Markets by : H.J. Blommestein
Download or read book Government and Markets written by H.J. Blommestein and published by Springer Science & Business Media. This book was released on 2013-04-18 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government and Markets is the first book to tackle systematically and in a multidisciplinary fashion the role of democratic governments during and after the transition from plan to market. The role of governments during the transformation is important for eliminating the obstacles and putting into place the conditions for the emergence of a viable market economy. Moreover, governments need to play a key role in establishing a political-legal order that promotes political liberties and economic freedom. In contrast to other literature on the transformation process in formerly planned systems, this volume focuses also on the creation of autonomous and accountable governments as part of the liberal economic order. Finally, the volume analyzes the role of the legal state in creating a competitive market economy. Government and Markets addresses itself to scholars, politicians policy makers interested in the establishment of a democratic, competitive order in formerly planned political economic systems.
Book Synopsis The Transformation Of Communist Systems by : Bernard Chavance
Download or read book The Transformation Of Communist Systems written by Bernard Chavance and published by Routledge. This book was released on 2019-06-26 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the confrontation between the two main economic systems that has marked the twentieth century, capitalism has been declared the winner–by default– over its adversary, socialism. Today, establishing a market economy has become the primary goal of the formerly socialist countries. The history of economic reform helps explain this remarkable turning point. Attempts to improve the old centralized system by expanding enterprise autonomy (in Poland, the Soviet Union, and East Germany) and more radical reforms that limited the role of central planning (in Yugoslavia, Czechoslovakia, Hungary, and China) encountered social and political obstacles or had unexpected and undesired effects. During the 1980s, the idea of a socialist market economy, which had been seen as a "third way" between capitalism and centralized socialism, was abandoned as economists gradually came to support a free market rather than the dogma of planning. Through a comparative and historical analysis of change in socialist and post-socialist systems, this timely and original book clarifies the policies and pitfalls in this extraordinary transition. Bernard Chavance provides a succinct introduction and analysis of the politics and economics of Eastern Europe from the creation of the Stalinist system in the Soviet Union through what he argues have been three major waves of reform since the 1950s to the dismantling of most socialist governments in the 1990s. Exploring the link between the one-party regime and the growing rigidity of socialist economic systems, the author analyzes the failure of both incremental and radical reforms to adapt to new economic challenges, thus leading to the ultimate collapse of communist regimes in Europe.
Book Synopsis Transforming Centrally-Planned Economies by : Krzysztof Abramczyk
Download or read book Transforming Centrally-Planned Economies written by Krzysztof Abramczyk and published by . This book was released on 1996-06-01 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis analyzes the Polish experiences in the 1990s of the stabilization 'shock therapy' implemented simultaneously with the set of system- transforming reforms. The primary research question was: is Poland on the right track to a market economy? The main thrust of the study is the critical evaluation of the efforts made by reformers of the Polish economy to lessen the gap between Poland and Western Europe. It presents the areas of success and failure, so that any reader could learn more about the significance and difficulties of economic transformation in Poland. The thesis starts with the analysis of the failure of the Soviet-type economy. However, the basic focus of the research is limited to evaluation of the period between 1989 and 1995 and to presentation of possible strategies for the last five years of the century. The thesis argues that the Polish experience of the first half of the 1990s has proved that traditional tools of macroeconomic stabilization can be a success in a largely socialist economy. Despite man problems and difficulties, today Poland enjoys the fastest economic growth in all of Europe. The Polish economy entered the 1990s as the weakest in Eastern Europe; it is heading for the new century with a good chance of emerging as the strongest.
Book Synopsis Reform and Transformation in Eastern Europe by : János Mátyás Kovács
Download or read book Reform and Transformation in Eastern Europe written by János Mátyás Kovács and published by Routledge. This book was released on 1992-06-04 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can the economics of Eastern Europe make the dramatic transition from centrally-planned to market-led economics? This book tries to understand the intellectual background behind this change and the problems of managing it.
