Fiscal Policy, Monetary Targets, and the Price Level in a Centrally Planned Economy PDF Download

Author: Ziba Farhadian
Publisher:
ISBN:
Category : Monetary policy
Languages : en
Pages : 15

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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451981694
Category : Business & Economics
Languages : en
Pages : 42

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Book Description
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 increasingly autonomous economic agents. In this respect, fiscal policy becomes central and its macroeconomic role is enhanced. This paper studies the recent Chinese experience, reviewing fiscal developments and analyzing the effectiveness and appropriateness of available fiscal instruments in performing their newly enhanced macroeconomic role.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344658
Category : Business & Economics
Languages : en
Pages : 257

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Book Description
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.

Author: Akhand Akhtar Hossain
Publisher: Edward Elgar Publishing
ISBN: 0857937812
Category : Business & Economics
Languages : en
Pages : 654

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Book Description
This book of case studies is a significant contribution to monetary macroeconomics in which country-specific experience and issues in inflation and monetary policy are reviewed and analysed in an historical context. In doing so, the key ideas and views

Author: Haiqun Yang
Publisher: Springer
ISBN: 1349244708
Category : Business & Economics
Languages : en
Pages : 347

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Book Description
This book analyses the advantages and disadvantages of the banking system reforms with particular reference to centrally planned economies. The book reviews the socialist banking reforms and analyses their financial problems. Employing a critical exposition of banking theories, it assesses current financial disorders and takes issue with some established theories.

Author: Mario I. Bléjer
Publisher:
ISBN:
Category : Central planning
Languages : en
Pages : 50

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Author:
Publisher: World Bank Publications
ISBN: 0195206509
Category : Banks and Banking Reform
Languages : en
Pages : 323

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Book Description
This is the eleventh report in the annual series assessing major development issues. Part I reviews recent trends in the world economy and their implications for the future prospects of developing countries. Part II examines the role of public finance in development. This report includes the World Development Indicators, which provide selected social and economic indicators for more than 100 countries. Despite continued economic growth through 1987 and into 1988, two problems have characterized recent trends: unsustainable economic imbalances within and among industrial countries, and highly uneven economic growth among developing countries. Part I of the report concludes that three interdependent policy challenges need to be addressed. First, industrial countries need to reduce their external payments imbalances. Second, developing countries need to continue restructuring their domestic economic policies in order to gain creditworthiness and growth. Third, net resource transfers, external debt, from the developing countries must be trimmed so that investment and growth can resume. Part II of the report explores how public finance policies are best designed and implemented. How deficits are reduced is crucial: controlling costs in mobilizing revenues and setting careful priorities in public spending are equally important. Efficiency in providing public services and expanding the scope for raising revenue can be achieved through decentralizing decisionmaking and reforming state-owned enterprises with the latter permitting greater private participation.

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451844239
Category : Business & Economics
Languages : en
Pages : 33

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Book Description
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.

Author: David L. Bartlett
Publisher: University of Michigan Press
ISBN: 0472023306
Category : Political Science
Languages : en
Pages : 316

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Book Description
In the early 1990s, scholars voiced skepticism about the capacity of Eastern Europe's new democracies to manage simultaneous political and economic reform. They argued that the surge of popular participation following democratization would thwart efforts by successor governments to enact market reforms that imposed high costs on major elements of post-Communist society. David Bartlett challenges the conventional wisdom regarding the hazards of "dual transformations": far from hindering marketization, democratization facilitated it. Bartlett argues that the transition to democracy in East Central Europe lowered the political barriers to market reforms by weakening the ability of actors most vulnerable to marketization to manipulate the existing institutional structure to stop or slow down the process. Although the analysis focuses on Hungary, whose long history of market reforms makes it an ideal vehicle for assessing the impact of institutional change on reform policy, the author shows how his findings call into question the use of "shock therapy" and arguments, based on the experience in East Asia, that economic development and democratization are incompatible. This book will appeal to economists, political scientists, and others interested in transition problems in formerly communist countries, democratic transitions, and the politics of stabilization and adjustment. David L. Bartlett is Assistant Professor of Political Science, Vanderbilt University.

Author: Arye L. Hillman
Publisher: Springer Science & Business Media
ISBN: 9401138826
Category : Business & Economics
Languages : en
Pages : 394

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Book Description
Arye L. Hillman There has been much economic theorizing directed at providing the politician with guidance in the design of policies that will amend market outcomes in ways that achieve specified efficiency or equity objectives. It has been common practice in economic models to portray the politician who implements the policy recommendations as a mechanistic individual who behaves as would a benevolent dictator to maximize a prespecified conception of social welfare or the utility of a representative consumer. The self-interest and discretion that is attributed to firms and consumers as optimizing agents is absent from the motives of such a politician. Economic policy choice is thereby depoliticized. How well depoliticized economic theory fares in explaining or predicting economic policy choice depends naturally enough upon how politicized is the economic system in which economic and political agents function. The papers in this volume recognize that politicians may exercise sufficient discretion so as not to behave mechanistically in correcting market inefficiencies or in pursuit of a somehow specified just income distribution. Since politicians are viewed as self-interested optimizing agents, just as are utility-maximizing consumers and profit-maximizing producers, the choice of economic policies is politicized. Coverage is provided of a broad spectrum of economic policy choice where markets and politicians interact. Section I is concerned with policy determination in western market economies, Section II with the introduction of markets into economies in transition from socialism, and Section III with international transactions.