11 Credit Market Imperfections and Output Response in Previously Centrally Planned Economies
Author:
Mr. Guillermo Calvo https://isni.org/isni/0000000404811396 International Monetary Fund

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Abstract

The reform programs launched in Central and Eastern Europe and in the former Soviet Union have been accompanied by a sharp, and partly unexpected, fall in output (Chart 1). Moreover, three years into the reform experience, output remains rather flat.

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Proceedings of a Conference held in Washington, D.C., June 10-11, 1993