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The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014396077
This paper summarizes the macroeconomic performance of the transition economies. We first review the initial conditions confronting these economies, the reform strategy that was proposed, and the associated controversies that arose a decade ago. We then account for the widely different outcomes,...
Persistent link: https://www.econbiz.de/10014399915
Recent studies have highlighted the adverse impact of corruption on economic performance. This paper advances the hypothesis that corruption is largely a symptom of underlying weaknesses in public policies and institutions, a formulation that provides deeper insights into economic performance...
Persistent link: https://www.econbiz.de/10014399961
Covid-19 has exacerbated economic and social vulnerabilities across Sub-Saharan Africa (SSA). There is a risk that growth could be lower for longer, with a setback to development. Post-pandemic reforms thus become even more important, especially with constrained scope for fiscal and monetary...
Persistent link: https://www.econbiz.de/10012518323
China and Australia have increasingly strong links, especially through trade. These are driven by demand from China for … Australian commodities (coal and iron ore) and services (tourism and education). These links are influenced by China's transition …, three risks (both upside and downside) to China during this transition process are considered, focusing on their spillovers …
Persistent link: https://www.econbiz.de/10011866353
recommendations for China. The simulations highlight the importance of the criteria being used for determining speed and sequencing …
Persistent link: https://www.econbiz.de/10014401153
Over the past 20 years, the Chinese authorities have undertaken wide-ranging reforms of their exchange and trade systems that have steadily reduced the role of planning and increased the importance of market forces. As these reforms have taken root, relative prices and domestic and foreign...
Persistent link: https://www.econbiz.de/10014403429
Error correction models of the demand for a range of monetary aggregates in China are estimated with quarterly data for … indirect evidence against the existence of substantial repressed inflation in China during the sample period. This is a working …
Persistent link: https://www.econbiz.de/10014396177
Market-oriented economic reforms in centrally planned economies have altered the functions and objectives of key policy instruments, particularly in the case of fiscal policy. As a result of reform, economic management requires the use of “indirect” levers to regulate the behavior of...
Persistent link: https://www.econbiz.de/10014396291
This paper examines the relationship between macroeconomic stabilization and market-oriented reform in planned economies. It emphasizes that market-oriented reform should enhance the likelihood that adjustment to exogenous disturbances will involve genuine adjustment in the sense of actually...
Persistent link: https://www.econbiz.de/10014396471