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Author: Martin Raiser Publisher: University of Michigan Press ISBN: Category : Business & Economics Languages : de Pages : 240
Book Description
For over a decade, a large number of governments have embarked on economic reforms to strengthen the competitiveness of their countries in the world market and improve the standards of living of their populations. By far the most extensive reforms, both in depth and scope, have occurred since the late 1980s in the former communist economies of Central and Eastern Europe and East Asia. Despite vast differences in initial conditions and reform design, Martin Raiser argues that a central ingredient of the success of these reforms must be the hardening of the budget constraint for domestic producers. To verify this hypothesis, Raiser develops an analytical framework that links the concept of the soft budget constraint to issues of economic reform in developing countries, and examines indicators of the degree of budget softness with particular emphasis on the institutional deficiencies that may undermine the credibility of macroeconomic stabilization and the effectiveness of price signals. In his empirical analysis, Raiser relates the indicators of budget softness to the inflation and growth records of thirty-one developing countries. The cases of Poland and China further illuminate his theory by pointing toward the institutional arrangements that may hinder the effective hardening of budget constraints in transition economies. Finally, Raiser analyzes enterprise level data for China to verify the link between budget softness and technical and allocative inefficiency. Soft Budget Constraints will be of notable interest to those scholars and students of economics specializing in development and transition economics.
Author: Martin Raiser Publisher: University of Michigan Press ISBN: Category : Business & Economics Languages : de Pages : 240
Book Description
For over a decade, a large number of governments have embarked on economic reforms to strengthen the competitiveness of their countries in the world market and improve the standards of living of their populations. By far the most extensive reforms, both in depth and scope, have occurred since the late 1980s in the former communist economies of Central and Eastern Europe and East Asia. Despite vast differences in initial conditions and reform design, Martin Raiser argues that a central ingredient of the success of these reforms must be the hardening of the budget constraint for domestic producers. To verify this hypothesis, Raiser develops an analytical framework that links the concept of the soft budget constraint to issues of economic reform in developing countries, and examines indicators of the degree of budget softness with particular emphasis on the institutional deficiencies that may undermine the credibility of macroeconomic stabilization and the effectiveness of price signals. In his empirical analysis, Raiser relates the indicators of budget softness to the inflation and growth records of thirty-one developing countries. The cases of Poland and China further illuminate his theory by pointing toward the institutional arrangements that may hinder the effective hardening of budget constraints in transition economies. Finally, Raiser analyzes enterprise level data for China to verify the link between budget softness and technical and allocative inefficiency. Soft Budget Constraints will be of notable interest to those scholars and students of economics specializing in development and transition economics.
Author: Gun Eriksson Skoog Publisher: Springer Science & Business Media ISBN: 1475767935 Category : Business & Economics Languages : en Pages : 416
Book Description
This is a story of the soft budget constraint. It seeks an answer to a paradox: the prevalence of the soft budget constraint in spite of the tremendous inefficiencies that it gives rise to, and its persistence in spite of reform of the system of which it is an integral part. The story aims at increasing our understanding of why the phenomenon exists. By studying the case of state in Tanzania before, during and after socialism, an explanation of the owned enterprises emergence, persistence and logic of the soft budget constraint is suggested. This introductory chapter presents an argument showing why this story is worth telling. It discusses the research topic and how the problem it presents is attacked. THE SOFT BUDGET CONSTRAINT The soft budget constraint is today a popular metaphor. Originally it was seen as a characteristic of the socialist system. It refers to the tendency of primarily state-owned enterprises to have their liquidity gaps or losses accommodated by the state, or some other external funding body, and to the resulting expectations of such bail-out. The concept was coined by the Hungarian economist Hmos Kornai. ' He distinguishes between four major forms of external financial assistance that contribute to the soft budget constraint: soft subsidies, soft taxation, soft credit and soft 2 administrative pricing.
Author: W. Raphael Lam Publisher: International Monetary Fund ISBN: 1513539949 Category : Business & Economics Languages : en Pages : 392
Book Description
China is at a critical juncture in its economic transformation as it tries to rebalance what is generally seen as an exhausted growth model. A unifying theme across the reforms that will deliver this transformation is that it can no longer be achieved by raising the amount of physical investment and government direction of resource allocation. Instead China is building a new set of policy frameworks that will allow markets to function more effectively—not unfettered markets, but markets that work efficiently, in line with broad social and other policy goals, and in a sustainable way. Hence, China is now building a new soft infrastructure, that is, the institutional plumbing that underpins and guides the functioning of markets as the key organizing principle toward achieving sustained economic and social progress. Against this background, this volume provides policymakers, academics, and the public with valuable information about policies and institutions in China today. It also looks at the road ahead and key principles that can help China in navigating it. The book focuses on issues crucial in the country’s transformation, such as tax policy and administration, social security, state-owned enterprise reform, medium-term expenditure frameworks, the role of local government finances, capital account liberalization, and renminbi internationalization. As China moves toward a more price-based allocation of resources, strengthening monetary policy frameworks and financial sector regulation will be particularly important in channeling resources to the most productive sectors and minimizing the risks of financial sector stress. Also, upgrading statistical frameworks will be critical for macroeconomic policymaking and investors. Visit : http://www.elibrary.imf.org/page/modernizing-china
Author: Giovanni Andrea Cornia Publisher: ISBN: 9780199242184 Category : Business & Economics Languages : en Pages : 296
Book Description
This book is the first comprehensive assessment of the mortality crisis which has affected most economies in transition but which has remained so far largely unexplained. It reconciles long-term and short-term explanations of the crisis and makes use of special micro data-sets never used before. By providing a rigorous multidisciplinary analysis of this upsurge in mortality rates, the book hopes to contribute to the launch of vigorous policies to tackle this societal problem.
Author: Pius Fischer Publisher: Springer Science & Business Media ISBN: 0387337733 Category : Business & Economics Languages : en Pages : 692
Book Description
This volume identifies rent-seeking behavior as a primary cause of poor economic performance in many places, particulary Africa. The book presents a detailed empirical study of rent-seeking within the civil service, parastatal sector, and business community in Tanzania. It quantifies and evaluates the rent-seeking behavior of more than 300 parastatal companies and the resulting impact on society. The conclusions on reform strategies are applicable to counties within and outside Africa.
Author: Patrick J. Conway Publisher: Springer Science & Business Media ISBN: 1461515734 Category : Business & Economics Languages : en Pages : 366
Book Description
List of Figures. List of Tables. List of Symbols. List of Country Acronyms. Foreword and Acknowledgements. I. The Transition Economies. II. Saving, by Plan and in the Market. III. Considering the Competing Explanations of Transition in Inflation and Economic Growth. IV. The Inflationary Explosion Following Price Liberalization. V. The Crisis Years. VI. Directed Credits and Financial Repression in Belarus. VII. Stabilization in Transition Economies. VIII. Ukraine in the Stabilization Phase. IX. Georgia: from Crisis to Stabilization .. and Then? X. The Fallout of the Russian Financial C.
Author: Gérard Roland Publisher: MIT Press ISBN: 9780262681483 Category : Business & Economics Languages : en Pages : 440
Book Description
The transition from socialism to capitalism in former socialist economies has transformed the economic structure. This book provides an overview of research on the issues raised by the shift from collective to private ownership.
Author: A. Bhalla Publisher: Springer ISBN: 0230629202 Category : Business & Economics Languages : en Pages : 248
Book Description
Choosing between government and market is not a very helpful exercise since both are necessary. This book argues that it is misplaced to dichotomise between government and market failures. Too much attention is generally placed on government failures and not enough on private corporate failures. Failures occur in both public and private corporate spheres. They may be due to lapses in implementation of policies and programmes. Lack of enforcement in developing countries occurs either because rules and norms do not exist or they are poorly enforced. Emphasis on implementation problems highlights the importance of organizations and institutions.
Author: British Library of Political and Economic Science at the London School of Economics Publisher: Psychology Press ISBN: 9780415127837 Category : Business & Economics Languages : en Pages : 658
Book Description
The IBSS is the essential tool for librarians, university departments, research institutions and any public or private institutions whose work requires access to up-to-date and comprehensive knowledge of the social sciences.
Author: Martin Raiser
Author: Martin Raiser
Author: Gun Eriksson Skoog
Author: Jian Sun
Author: W. Raphael Lam
Author: Giovanni Andrea Cornia
Author: Pius Fischer
Author: Patrick J. Conway
Author: Gérard Roland
Author: A. Bhalla
Author: British Library of Political and Economic Science at the London School of Economics