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Persistent link: https://www.econbiz.de/10010524435
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This paper presents a detailed analysis of the output decline in Kazakhstan in the early years of the transition. The decline is documented at the aggregate and sectoral levels, and the quality of the available data is reviewed. A growth accounting framework quantifies the productivity slowdown...
Persistent link: https://www.econbiz.de/10014400556
Open market operations are the major instruments of monetary control in industrial countries and are becoming important in developing countriesand countries in transition. This paper shows how open market operationsare related to other monetary instruments, discusses the role of the market and...
Persistent link: https://www.econbiz.de/10014402763
have retrenched in terms of public expenditures in relation to GDP, as well as public employment as a share of population …
Persistent link: https://www.econbiz.de/10014403626
Like most transition economies, Bulgaria, Lithuania, and Mongolia suffered severe banking crises, which had to be resolved before growth could resume. The macroeconomic and institutional failings that led to these crises are described, and parallels are drawn with the causes of banking crises in...
Persistent link: https://www.econbiz.de/10014403652
vouchers' would be distributed to the population which would entitle their holders to purchase stock in these companies …
Persistent link: https://www.econbiz.de/10014399300
The output contractions during the initial transition stages in the Baltics and in Russia and the other CIS countries are examined across several dimensions, and the reliability of the available official statistics evaluated. The depth, length and breadth of the contractions are studied and set...
Persistent link: https://www.econbiz.de/10014399817
This paper analyzes the importance of developing market-enhancing institutions for restoring economic growth in transition economies during 1991–98. The paper’s main finding is that the development of an institutional framework has indeed a significant positive impact on growth, but that...
Persistent link: https://www.econbiz.de/10014399868