This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability....

This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability....

Der Autor Anders Aslund hat die Absicht mit diesem Buch ein breites analytisches Bild über die russische Wirtschaftstransformation zu schaffen und erläutert den Umfang der bisherigen Erfolge. Er betrachtet vor allem den institutionellen Wandel, die makroökonomische Stabilisierung, die...