Hidden Bibliographic Details
| ISBN: | 1462395406
9781462395408
1452722013
9781452722016
1281491861
9781281491862
9786613780553
6613780553
1451998112
9781451998115
9781451848724
1451848722
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| Notes: | Includes bibliographical references (pages 14-15).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation 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.
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| Other form: | Print version: Calvo, Guillermo A. Obstacles to transforming centrally-planned economies. [Washington, D.C.] : International Monetary Fund, Research Dept., ©1991
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