Dieser Bericht begleitet die für die einzelnen Republiken vom IMF erstellten Wirtschaftsberichte. Zwei Hauptbereiche werden behandelt: Zuerst eine Übersicht über die Reformen und gemeinsame Politikinhalte, vor denen die einzelnen Republiken nun stehen und zweitens eine Diskussion über die...

This three-volume study of the Soviet economy presents the detailed information, analysis, and recommendations for the summary report presented to the Group of Seven industrial countries in December 1990. The study was prepared by staff members of the IMF, the World Bank, the OECD, and the EBRD

The sensitivity of secondary sovereign loan market returns to three classes of economic news is estimated in the arbitrage pricing theory framework. Returns are characterized by a limited response to unexpected changes in procyclical U.S. aggregates. Shocks to country-specific balance of payment...

The paper deals with the two parts of the short-run adjustment problem in developing countries: the improvement of the current account and the reduction of inflation, the main cause in both cases being usually a fiscal deficit. It is shown how the two parts are related. Distinctions are made...

Many countries have initiated reforms in their monetary control procedures by relaxing direct controls and increasing the role of market processes. The changed approach is often inevitable when countries reform their financial systems in support of growth and adjustment. This is because reform...

This paper explains different features of the MULTI-region econometric MODel (MULTIMOD). MULTIMOD is designed to examine the effects on that baseline of scenarios that involve changes in policies in major countries and other exogenous changes in the economic environment. The Mark II version...

This paper provides deeper insights on a few themes with regard to the experience with macroeconomic management in resource-rich developing countries (RRDCs). First, some stylized facts on the performance of these economies relative to their non-resource peers are provided. Second, the...

This paper aims to widen the prism through which Fund policy analysis is conducted for resource-rich developing countries (RRDCs). While all resource-rich economies face resource revenue exhaustibility and volatility, RRDCs face additional challenges, including lack of access to international...