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Republic of Serbia
			: Selected Issues Paper

Republic of Serbia : Selected Issues Paper »

Volume/Issue: 2013/207

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 July 2013

DOI: http://dx.doi.org/10.5089/9781484301302.002

ISBN: 9781484301302

Keywords: public enterprises, business environment, public enterprise sector, public enterprise, privatization agency

This Selected Issues paper on Serbia's Article IV Consultation reviews the precrisis growth paradigm and its legacy vulnerabilities. The underlying growth model proved vulnerable to shocks, being associated with a...

Australia
			: Addressing Systemic Risk Through Higher Loss Absorbency-Technical Note

Australia : Addressing Systemic Risk Through Higher Loss Absorbency-Technical Note »

Volume/Issue: 2012/311

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 November 2012

DOI: http://dx.doi.org/10.5089/9781475542776.002

ISBN: 9781475542776

Keywords: market capitalization, banking, tier 1 capital, banking system, present value

Australia's four largest banks can be considered domestically systemic. They make up the lion's share of the banking system, use similar business models, and are interconnected. The top four banks are relatively si...

Local Governments' Fiscal Balance, Privatization, and Banking Sector Reform in Transition Countries

Local Governments' Fiscal Balance, Privatization, and Banking Sector Reform in Transition Countries »

Volume/Issue: 2012/146

Series: IMF Working Papers

Author(s): Ernesto Crivelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2012

DOI: http://dx.doi.org/10.5089/9781475504118.001

ISBN: 9781475504118

Keywords: Soft budget constraints, Transition, fiscal autonomy, budget constraints, fiscal discipline, State and Local Borrowing,

Several transition economies have undertaken fiscal decentralization reforms over the past two decades along with liberalization, privatization, and stabilization reforms. Theory predicts that decentralization may...

Republic of Belarus
			: Selected Issues

Republic of Belarus : Selected Issues »

Volume/Issue: 2012/114

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 May 2012

DOI: http://dx.doi.org/10.5089/9781475503814.002

ISBN: 9781475503814

Keywords: market liberalization, deregulation, price liberalization, privatization, enterprise reform

This Selected Issues Paper presents an analysis of Belarus-specific conditions and cross-country research, and proposes a roadmap for real-sector reforms. It highlights distortions resulting from the government's i...

The Valuation Effects of Geographic Diversification
			: Evidence From U.S. Banks

The Valuation Effects of Geographic Diversification : Evidence From U.S. Banks »

Volume/Issue: 2012/50

Series: IMF Working Papers

Author(s): Luc Laeven , Martin Goetz , and Ross Levine

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2012

DOI: http://dx.doi.org/10.5089/9781463937119.001

ISBN: 9781463937119

Keywords: Geographic Corporate diversification, Agency problems, Economies of scope, Corporate insiders, Corporate valuation, deregulation, bank holding, holding company, bank holding company, Firm Organization and Market Structure

This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United States on their market valuations. Using two novel identification strategies based on the dyna...

Extrabudgetary Funds

Extrabudgetary Funds »

Volume: 10

Series: Technical Notes and Manuals

Author(s): Dimitar Radev , and Richard Allen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 June 2010

DOI: http://dx.doi.org/10.5089/9781455279470.005

ISBN: 9781455279470

Keywords: extrabudgetary fund, fiscal earmarking, agency model, budget, financial management, revenues, budget process, ebf

This technical note1 addresses the following main questions: 1. What are the definition, classification, and typology of extrabudgetary funds (EBFs)? 2. Why do EBFs exist? 3. What are the problems created by EBFs?...

Corruption and Technology-Induced Private Sector Development

Corruption and Technology-Induced Private Sector Development »

Volume/Issue: 2006/198

Series: IMF Working Papers

Author(s): Jean-François Ruhashyankiko , and Etienne Yehoue

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

DOI: http://dx.doi.org/10.5089/9781451864588.001

ISBN: 9781451864588

Keywords: Occupational choice, Technology, Private Sector Development, public sector, state-owned enterprises, nationalization,

This paper asks whether corruption might be the outcome of a lack of outside options for public officials or civil servants. We propose an occupational choice model embedded in an agency framework to address the is...

State-Owned Banks, Stability, Privatization, and Growth
			: Practical Policy Decisions in a World Without Empirical Proof

State-Owned Banks, Stability, Privatization, and Growth : Practical Policy Decisions in a World Without Empirical Proof »

Volume/Issue: 2005/10

Series: IMF Working Papers

Author(s): Michael Andrews

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2005

DOI: http://dx.doi.org/10.5089/9781451860290.001

ISBN: 9781451860290

Keywords: State-owned banks, banking, bank privatization, privatizations, bank privatizations, General Financial Markets: Government Policy and Regulation,

This paper provides an overview of the possible linkages between state-owned banks, privatization, and banking sector crises. Data on privatizations in over 65 countries is used together with data from the banking...

IMF Staff Papers, Volume 51, No. 2

IMF Staff Papers, Volume 51, No. 2 »

Volume: 51

Series: IMF Staff Papers

Author(s): International Monetary Fund. Research Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 July 2004

DOI: http://dx.doi.org/10.5089/9781589063235.024

ISBN: 9781589063235

Keywords: privatization revenues, privatization programs, privatization transactions, privatization program, American Dollar, Autoregression, Cohort Analysis, Conditionality (finance), Correlation (statistics), Effect Of Education On Economic Development

This second issue for 2004 contains 8 new papers, including notable contributions from: Nancy Brune, Geoffrey Garrett, and Bruce Kogut on the global spread of privatization; and Mark P. Taylor and Elena T. Branson...

Romania
			: Selected Issues and Statistical Appendix

Romania : Selected Issues and Statistical Appendix »

Volume/Issue: 2004/220

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 July 2004

DOI: http://dx.doi.org/10.5089/9781451832792.002

ISBN: 9781451832792

Keywords: budget, state budget, public sector, budget constraints, hard budget constraints

This Selected Issues paper for Romania reports that the practice of nonpayment and arrears accumulation has been widespread in Romania. Managers of enterprises that remain in the pipeline for privatization for long...

Vietnam
			: Statistical Appendix

Vietnam : Statistical Appendix »

Volume/Issue: 2003/382

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 December 2003

DOI: http://dx.doi.org/10.5089/9781451840285.002

ISBN: 9781451840285

Keywords: enterprise income tax, enterprise income, commercial banks, foreign currency, investors

This report provides the details of the IMF's projections and estimates of Vietnam on the summary of the tax systems; gross domestic product by expenditure categories; sector and ownership at current prices; gross...

Enterprise Restructuring and Transition
			: Evidence From the Former Yugoslav Republic of Macedonia

Enterprise Restructuring and Transition : Evidence From the Former Yugoslav Republic of Macedonia »

Volume/Issue: 2003/136

Series: IMF Working Papers

Author(s): Juan Zalduendo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2003

DOI: http://dx.doi.org/10.5089/9781451855838.001

ISBN: 9781451855838

Keywords: Enterprise restructuring, corporate performance, ownership concentration, privatization, private ownership, Education: Other, Socialist Systems and Transitional Economies: General, Macedonia, The Former Yugoslav Republic of,

This paper reviews developments in corporate performance in the FYR Macedonia during the 1990s. The paper finds substantial differences in performance between surviving old firms and nimbler new ones. The paper rev...

Mongolia
			: Selected Issues and Statistical Appendix

Mongolia : Selected Issues and Statistical Appendix »

Volume/Issue: 2002/253

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 November 2002

DOI: http://dx.doi.org/10.5089/9781451826838.002

ISBN: 9781451826838

Keywords: expenditure, social security, total expenditure, capital expenditure, public enterprises

This Selected Issues paper and Statistical Appendix analyzes growth and recovery in Mongolia during transition. The paper describes the major sources of economic growth in Mongolia since the early 1980s in the cont...

Bangladesh
			: Selected Issues and Statistical Appendix

Bangladesh : Selected Issues and Statistical Appendix »

Volume/Issue: 2002/114

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 June 2002

DOI: http://dx.doi.org/10.5089/9781451804096.002

ISBN: 9781451804096

Keywords: privatization, electricity, privatization commission, electricity supply, electricity tariffs

This Selected Issues paper and Statistical Appendix examines Bangladesh's nonfinancial state-owned enterprises. The paper argues that, given the overall policy environment and external vulnerabilities, the usefulne...

Privatization in Ukraine
			: Challenges of Assessment and Coverage in Fund Conditionality

Privatization in Ukraine : Challenges of Assessment and Coverage in Fund Conditionality »

Volume/Issue: 2002/7

Series: IMF Policy Discussion Papers

Author(s): Katrin Elborgh-Woytek , and Mark Lewis

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2002

DOI: http://dx.doi.org/10.5089/9781451971620.003

ISBN: 9781451971620

Keywords: Privatization, Public enterprises, Ukraine, Ukraine, Use of Fund resources, transition, privatization program, privatization procedures, privatization receipts, privatization programs

The paper examines the recent privatization experience in Ukraine in the context of the streamlining of Fund structural conditionality. A particular focus is the shift from privatization-related conditionality base...

An Attempt to Profile the Finances of China's Enterprise Sector

An Attempt to Profile the Finances of China's Enterprise Sector »

Volume/Issue: 2001/182

Series: IMF Working Papers

Author(s): Cem Karacadag , and Paul Heytens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2001

DOI: http://dx.doi.org/10.5089/9781451859263.001

ISBN: 9781451859263

Keywords: Chinese economy, Chinese corporate sector, Chinese financial sector, industrial enterprises, listed companies, enterprise sector, net fixed assets, state enterprise, Corporate Finance and Governance: General,

This paper examines the leverage, efficiency, and debt-repayment capacity of the Chinese enterprise sector using aggregate and firm level data. The cash coverage of interest expense, in particular, is used as a bri...

'Big Bang' Versus Gradualism in Economic Reforms
			: An Intertemporal Analysis with an Application to China

'Big Bang' Versus Gradualism in Economic Reforms : An Intertemporal Analysis with an Application to China »

Volume/Issue: 2001/98

Series: IMF Working Papers

Author(s): Andrew Feltenstein , and Saleh Nsouli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2001

DOI: http://dx.doi.org/10.5089/9781451852141.001

ISBN: 9781451852141

Keywords: China, Transition, sequencing of reforms, speed of adjustment, privatization, gradual privatization, tariff reform, state-owned enterprises, exchange rate policy, Computable and Other Applied General Equilibrium Models

This paper reviews briefly the controversy in the literature concerning the speed of adjustment and sequencing of reforms, and presents a model parameterized with Chinese data. The model is used to generate differe...

How Does Privatization Work? Ownership Concentration and Enterprise Performance in Ukraine

How Does Privatization Work? Ownership Concentration and Enterprise Performance in Ukraine »

Volume/Issue: 2001/42

Series: IMF Working Papers

Author(s): Alexander Pivovarsky

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2001

DOI: http://dx.doi.org/10.5089/9781451846218.001

ISBN: 9781451846218

Keywords: Ownership, Transition, ownership concentration, ownership structure, privatization methods, investor protection, Socialist Enterprises and Their Transitions,

This paper investigates the relationship between ownership concentration and enterprise performance in Ukraine. Using data on 376 medium and large enterprises, it finds that ownership concentration is positively as...

Latvia
			: Selected Issues and Statistical Appendix

Latvia : Selected Issues and Statistical Appendix »

Volume/Issue: 2000/100

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 August 2000

DOI: http://dx.doi.org/10.5089/9781451824490.002

ISBN: 9781451824490

Keywords: privatization, pension, insurance companies, pension funds, private pension

Developments and prospects of nonbank financial institutions of Latvia have been presented in this paper. Foreign direct investment (FDI) inflows to Latvia have declined compared with their earlier levels. This pos...

Evidenceon the Fiscal and Macroeconomic Impact of Privatization

Evidenceon the Fiscal and Macroeconomic Impact of Privatization »

Volume/Issue: 2000/130

Series: IMF Working Papers

Author(s): Steven Barnett

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2000

DOI: http://dx.doi.org/10.5089/9781451855180.001

ISBN: 9781451855180

Keywords: privatization proceeds, impact of privatization, equation, samples

This paper empirically investigates the relationship between privatization and measures of fiscal and macroeconomic performance. One of the main findings is that privatization proceeds transferred to the budget ten...

External Sector Reform and Public Enterprise Restructuring

External Sector Reform and Public Enterprise Restructuring »

Volume/Issue: 2000/120

Series: IMF Working Papers

Author(s): Rina Bhattacharya

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

DOI: http://dx.doi.org/10.5089/9781451854268.001

ISBN: 9781451854268

Keywords: public enterprise restructuring, exchange rate reform, financial sector reform, public enterprise, public enterprises, enterprise restructuring, enterprise reform, state enterprises

This paper explores the linkages between external sector reforms and public enterprise restructuring, paying attention to the role of the financial sector in ensuring the success of these reforms in the context of...

Czech Republic
			: Selected Issues

Czech Republic : Selected Issues »

Volume/Issue: 1999/90

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 September 1999

DOI: http://dx.doi.org/10.5089/9781451810028.002

ISBN: 9781451810028

Keywords: privatization, enterprise sector, public finances, fiscal situation, bank privatization

This Selected Issues paper on the Czech Republic discusses issues relating to the enterprise sector and corporate governance. This includes an overview and assessment of enterprise performance along with a discussi...

Economic and Legal Considerations of Optimal Privatization
			: Case Studies of Mortgage Firms (DePfa Group and Fannie Mae)

Economic and Legal Considerations of Optimal Privatization : Case Studies of Mortgage Firms (DePfa Group and Fannie Mae) »

Volume/Issue: 1999/69

Series: IMF Working Papers

Author(s): John Garrett , Hans-Joachim Beyer , and Claudia Dziobek

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1999

DOI: http://dx.doi.org/10.5089/9781451849042.001

ISBN: 9781451849042

Keywords: Privatization, financial regulation, state banks, Fannie Mae, DePfa, mortgage, mortgage banks, private mortgage, mortgages

Successful privatization must be accompanied by the complete removal of privileges and any public policy mission. Bank behavior changes rapidly as profit maximation replaces the bureaucratic objective function. Onc...

Privatization, Social Impact, and Social Safety Nets

Privatization, Social Impact, and Social Safety Nets »

Volume/Issue: 1999/68

Series: IMF Working Papers

Author(s): Sanjeev Gupta , Henry Ma , and Christian Schiller

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1999

DOI: http://dx.doi.org/10.5089/9781451848977.001

ISBN: 9781451848977

Keywords: Privatization, social safety nets, social welfare, state-owned enterprises, transition, employment, impact of privatization, employment guarantees, unemployment

Privatization promotes economic efficiency and growth, thereby reinforcing macroeconomic adjustment. In the short run, however, it can lead to job losses and wage cuts for workers and higher prices for consumers. T...

Privatization in Transition Countries
			: A Sampling of the Literature

Privatization in Transition Countries : A Sampling of the Literature »

Volume/Issue: 1999/6

Series: IMF Working Papers

Author(s): Oleh Havrylyshyn , and Donal McGettigan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1999

DOI: http://dx.doi.org/10.5089/9781451842272.001

ISBN: 9781451842272

Keywords: Privatization, transition, state-owned enterprises, de novo enterprises, mass privatization, vouchers, transition economies, transition countries, voucher privatization

This paper reviews a selection of studies on privatization experiences in transition countries. Empirical studies almost invariably show privatized enterprises outperform state enterprises. Moreover, the literature...

Cape Verde
			: Statistical Tables

Cape Verde : Statistical Tables »

Volume/Issue: 1998/31

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 May 1998

DOI: http://dx.doi.org/10.5089/9781451809244.002

ISBN: 9781451809244

Keywords: public enterprises, central bank, public debt, balance of payments, current account

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Vietnam
			: Selected Issues and Statistical Annex

Vietnam : Selected Issues and Statistical Annex »

Volume/Issue: 1998/30

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 April 1998

DOI: http://dx.doi.org/10.5089/9781451840148.002

ISBN: 9781451840148

Keywords: state enterprises, banking, state enterprise, banking system, state bank, Viet Nam,

This Selected Issues paper on Vietnam contains background material on banking sector reform, state enterprise reform, external trade liberalization, and tax reform. The paper highlights that banking sector reforms...

Republic of Slovenia
			: Selected Issues

Republic of Slovenia : Selected Issues »

Volume/Issue: 1998/20

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 1998

DOI: http://dx.doi.org/10.5089/9781451835670.002

ISBN: 9781451835670

Keywords: privatization, investors, privatization process, ownership structure, foreign investment

This Selected Issues paper examines the progress of Slovenia by focusing on four interrelated topics that are critically important to the evolution of the transition process and provides insights into the work that...

Togo
			: Selected Issues

Togo : Selected Issues »

Volume/Issue: 1998/21

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 April 1998

DOI: http://dx.doi.org/10.5089/9781451836554.002

ISBN: 9781451836554

Keywords: civil service, public enterprises, public enterprise, civil servants, enterprise sector

This Selected Issues paper examines civil service employment and reform in Togo. The paper analyzes overall developments in civil service employment and wages. It looks in some detail at employment in the health an...

People's Republic of China
			: Selected Issues

People's Republic of China : Selected Issues »

Volume/Issue: 1997/72

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 September 1997

DOI: http://dx.doi.org/10.5089/9781451807783.002

ISBN: 9781451807783

Keywords: state enterprises, industrial enterprises, state-owned enterprises, holding companies, state council

This Selected Issues paper analyzes state-owned enterprise (SOE) development and reform in China. The paper discusses the role of state ownership in the Chinese economy, providing a 'snapshot' of key features of th...

Investing U.S. Social Security Trust Fund Assets in Private Securities

Investing U.S. Social Security Trust Fund Assets in Private Securities »

Volume/Issue: 1997/112

Series: IMF Working Papers

Author(s): Michael Leidy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1997

DOI: http://dx.doi.org/10.5089/9781451853568.001

ISBN: 9781451853568

Keywords: social insurance, social security benefits, social security system, social security taxes, social security tax

This paper examines the macroeconomic and distributional consequences of a policy change, other things being equal, that would allow U.S. Social Security trust fund assets to be invested in private securities. Impr...

Mali
			: Selected Issues and Statistical Annex

Mali : Selected Issues and Statistical Annex »

Volume/Issue: 1996/141

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 1997

DOI: http://dx.doi.org/10.5089/9781451826203.002

ISBN: 9781451826203

Keywords: public enterprise, public enterprises, public enterprise sector, enterprise sector, debt service

This Selected Issues paper and Statistical Annex presents an overview of economic developments in Mali in 1994-95. Despite the impact of the devaluation on government spending, the overall fiscal deficit was limite...

Finance & Development, December 1997

Finance & Development, December 1997 »

Volume/Issue: 34/4

Series: Finance & Development

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1997

DOI: http://dx.doi.org/10.5089/9781451951905.022

ISBN: 9781451951905

Keywords: privatization, capital markets, capital market, capital market development, capital outflows

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly...

Privatization and Restructuring
			: An Incomplete-Contract Approach

Privatization and Restructuring : An Incomplete-Contract Approach »

Volume/Issue: 1996/101

Series: IMF Working Papers

Author(s): Dieter Bös

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1996

DOI: http://dx.doi.org/10.5089/9781451852486.001

ISBN: 9781451852486

Keywords: privatization agency, privatization, privatization procedure, case of privatization, privatization in transition economies

Since an enterprise, which is to be privatized, has to be restructured in uncertainty, and the restructuring investments are sunk when the final decision on the sale price is taken, there is an imminent danger that...

Poland
			: Statistical Tables

Poland : Statistical Tables »

Volume/Issue: 1996/20

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 1996

DOI: http://dx.doi.org/10.5089/9781451831870.002

ISBN: 9781451831870

Keywords: state budget, social insurance, social insurance fund, transport equipment, balance of payments

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Vietnam
			: Statistical Tables

Vietnam : Statistical Tables »

Volume/Issue: 1995/93

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1995

DOI: http://dx.doi.org/10.5089/9781451840216.002

ISBN: 9781451840216

Keywords: state enterprises, state management, current account, debt service, balance of payments

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discuss...

Czech Republic
			: Selected Background Studies

Czech Republic : Selected Background Studies »

Volume/Issue: 1995/85

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 September 1995

DOI: http://dx.doi.org/10.5089/9781451809992.002

ISBN: 9781451809992

Keywords: enterprise sector, privatization, industrial enterprises, enterprise restructuring, state-owned enterprises

This paper examines a few selected aspects of adjustment and restructuring in the Czech enterprise sector. It examines financial performance of the Czech enterprise sector, drawing on data reported by nonfinancial...

Cape Verde
			: Background Issues and Statistical Update

Cape Verde : Background Issues and Statistical Update »

Volume/Issue: 1995/9

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 February 1995

DOI: http://dx.doi.org/10.5089/9781451809220.002

ISBN: 9781451809220

Keywords: public enterprises, state enterprise, mixed enterprises, state enterprises, enterprise sector

This Background Issues paper analyzes the financial sector reform in Cape Verde. The paper highlights that monetary policy in Cape Verde is conducted within the framework of a simple financial program elaborated an...

Shortages Under Free Prices
			: The Case of Ukraine in 1992

Shortages Under Free Prices : The Case of Ukraine in 1992 »

Volume/Issue: 1994/10

Series: IMF Working Papers

Author(s): Timothy Lane , Rolando Ossowski , and Alexander Sundakov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1994

DOI: http://dx.doi.org/10.5089/9781451926606.001

ISBN: 9781451926606

Keywords: price liberalization, state enterprises, imperfect competition, state sector, socialist economy

This paper examines the coexistence of free prices and shortages for a range of consumer goods in Ukraine during 1992. Enterprises making consumer goods were substantially free to set market-clearing prices. Yet, U...

Political Feasibility and Investment in Economic Transformations

Political Feasibility and Investment in Economic Transformations »

Volume/Issue: 1993/57

Series: IMF Working Papers

Author(s): Peter Isard , and Joshua Aizenman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1993

DOI: http://dx.doi.org/10.5089/9781451967289.001

ISBN: 9781451967289

Keywords: state sector, domestic investment, tax revenue, private capital

The paper characterizes the feasibility of economic transformation as requiring the simultaneous attainment of macroeconomic stability, political support, and adequate private investment. Macroeconomic stability is...

The Economic Reform Process in Russia

The Economic Reform Process in Russia »

Volume/Issue: 1993/55

Series: IMF Working Papers

Author(s): John Odling-Smee , and Henri Lorie

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1993

DOI: http://dx.doi.org/10.5089/9781451847574.001

ISBN: 9781451847574

Keywords: price liberalization, privatization, enterprise reform, balance of payments, enterprise sector

Although various factors point to a more arduous and longer transition in Russia than in Eastern Europe, the broad policy approach should be similar. A necessary condition for effective macroeconomic stabilization...

Viet Nam
			: Reform and Stabilization, 1986-1992

Viet Nam : Reform and Stabilization, 1986-1992 »

Volume/Issue: 1993/46

Series: IMF Working Papers

Author(s): Erich Spitäller , and Gabrielle Lipworth

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1993

DOI: http://dx.doi.org/10.5089/9781451973808.001

ISBN: 9781451973808

Keywords: state enterprises, state sector, public enterprises, foreign trade, price liberalization, Viet Nam,

Viet Nam has made substantial progress in the transition to a market economy and toward financial stability since economic reform began in 1986. Piecemeal measures were adopted at first, followed by the launching o...

The Strategy of Reform in the Previously Centrally-Planned Economies of Eastern Europe
			: Lessons and Challenges

The Strategy of Reform in the Previously Centrally-Planned Economies of Eastern Europe : Lessons and Challenges »

Volume/Issue: 1993/6

Series: IMF Policy Discussion Papers

Author(s): Eduardo Borensztein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1993

DOI: http://dx.doi.org/10.5089/9781451971873.003

ISBN: 9781451971873

Keywords: privatization, state enterprises, mass privatization, enterprise debt, enterprise sector

This paper analyzes some of the lessons that can be drawn from the experience of Eastern Europe in the process of transition to a market economy that is under way, and examines some key challenges currently facing...

Resource Allocation During the Transition to a Market Economy
			: Policy Implications of Supply Bottlenecks and Adjustment Costs

Resource Allocation During the Transition to a Market Economy : Policy Implications of Supply Bottlenecks and Adjustment Costs »

Volume/Issue: 1993/6

Series: IMF Working Papers

Author(s): Peter Isard , and Joshua Aizenman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1993

DOI: http://dx.doi.org/10.5089/9781451842241.001

ISBN: 9781451842241

Keywords: state industrial sector, probability, state sector, state enterprises, equations

The paper discusses the case against a laissez faire approach to resource allocation and develops a model of supply bottlenecks. It argues that: (1) once budget constraints are hardened and credit markets begin to...

China
			: An Evolving Market Economy:  A Review of Reform Experience

China : An Evolving Market Economy: A Review of Reform Experience »

Volume/Issue: 1992/89

Series: IMF Working Papers

Author(s): Kalpana Kochhar , and Michael Bell

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 1992

DOI: http://dx.doi.org/10.5089/9781451851212.001

ISBN: 9781451851212

Keywords: foreign trade, state-owned enterprises, aggregate demand, contract responsibility system, output growth, Economic Reform,

This paper examines China’s reform experience since 1978, reviewing major initiatives taken and assessing their impact on economic structure and their implications for macroeconomic management and stability....

Price Liberalization in a Reforming Socialist Economy
			: A Search Equilibrium Approach

Price Liberalization in a Reforming Socialist Economy : A Search Equilibrium Approach »

Volume/Issue: 1992/44

Series: IMF Working Papers

Author(s): Domenico Fanizza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1992

DOI: http://dx.doi.org/10.5089/9781451846379.001

ISBN: 9781451846379

Keywords: price liberalization, socialist economy, socialist economies, bargaining power, aggregate consumption, Economic Reform,

A bilateral search model of the commodity market is formulated to study the effects of liberalizing prices in a reforming socialist economy. The main result is that if the competitive structure of the economy is no...

Financial Markets and Public Finance in the Transformation Process

Financial Markets and Public Finance in the Transformation Process »

Volume/Issue: 1992/29

Series: IMF Working Papers

Author(s): Vito Tanzi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1992

DOI: http://dx.doi.org/10.5089/9781451844719.001

ISBN: 9781451844719

Keywords: state enterprises, fiscal institutions, tax system

The paper surveys the role of financial markets and fiscal institutions in the transformation process going on in Eastern and Central Europe. It highlights (a) the need to create some sort of “social ecologi...

Does Sequencing of Privatization Matter in Reforming Planned Economies?

Does Sequencing of Privatization Matter in Reforming Planned Economies? »

Volume/Issue: 1992/13

Series: IMF Working Papers

Author(s): Aasim Husain , and Ratna Sahay

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1992

DOI: http://dx.doi.org/10.5089/9781451924732.001

ISBN: 9781451924732

Keywords: intermediate goods, intermediate inputs, imperfect competition, perfect competition

Although a centerpiece of the reform process in Central and Eastern Europe, large-scale privatization cannot be undertaken all at once and policymakers inevitably face the choice of privatizing some sectors before...

Stabilization and Structural Reform in Czechoslovakia
			: An Assessment of the First Stage

Stabilization and Structural Reform in Czechoslovakia : An Assessment of the First Stage »

Volume/Issue: 1992/2

Series: IMF Working Papers

Author(s): Bijan Aghevli , Tessa Van der Willigen , and Eduardo Borensztein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1992

DOI: http://dx.doi.org/10.5089/9781451841671.001

ISBN: 9781451841671

Keywords: balance of payments, price liberalization, foreign trade, Economic Reform,

This paper analyzes the Czechoslovak reform program which was launched on January 1, 1991. Under this program, Czechoslovakia has taken decisive steps to establish a market economy, while achieving price stability...

Obstacles to Transforming Centrally-Planned Economies
			: The Role of Capital Markets

Obstacles to Transforming Centrally-Planned Economies : The Role of Capital Markets »

Volume/Issue: 1991/66

Series: IMF Working Papers

Author(s): Guillermo Calvo , and Jacob Frenkel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1991

DOI: http://dx.doi.org/10.5089/9781451848724.001

ISBN: 9781451848724

Keywords: privatization, economic transformation, capital market, moral hazard

This paper identifies obstacles hindering the transformation of centrally-planned economies (CPEs) into well-functioning market economies. The obstacles identified relate to (i) anticipatory dynamics, (ii) monetary...

Proposals for Privatization in Eastern Europe

Proposals for Privatization in Eastern Europe »

Volume/Issue: 1991/36

Series: IMF Working Papers

Author(s): Eduardo Borensztein

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1991

DOI: http://dx.doi.org/10.5089/9781451977905.001

ISBN: 9781451977905

Keywords: privatization, privatization process, holding companies, privatization proposals, state enterprises

This paper discusses several proposals for a wholesale privatization of public enterprises in Eastern Europe. These proposals include the distribution of ”vouchers” to private citizens as well as the...

On the Sequencing of Reforms in Eastern Europe

On the Sequencing of Reforms in Eastern Europe »

Volume/Issue: 1991/13

Series: IMF Working Papers

Author(s): Hans Genberg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1991

DOI: http://dx.doi.org/10.5089/9781451924718.001

ISBN: 9781451924718

Keywords: privatization, socialist economies, state enterprises, state-owned enterprises, privatization of state

This paper discusses issues related to the sequencing of the reforms that are necessary to transform the economies in Eastern Europe into market economies. It is first argued that the transition path of these econo...

Finance & Development, December 1990

Finance & Development, December 1990 »

Volume/Issue: 27/4

Series: Finance & Development

Author(s): International Monetary Fund. External Relations Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1990

DOI: http://dx.doi.org/10.5089/9781451951783.022

ISBN: 9781451951783

Keywords: enterprise restructuring, structural adjustment, balance of payments, direct investment, social security

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly...

Social Security, Demographic Trends, and the Federal Budget

Social Security, Demographic Trends, and the Federal Budget »

Volume/Issue: 1990/14

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1990

DOI: http://dx.doi.org/10.5089/9781451924084.001

ISBN: 9781451924084

Keywords: social security, social security system, aging, social security benefits, dependency

This paper considers the implications of the prospective aging of the U.S. population for the social security system and concludes that the large and growing cashflow surpluses of the social security trust funds sh...

Toward Defining and Measuring the Fiscal Impact of Public Enterprises

Toward Defining and Measuring the Fiscal Impact of Public Enterprises »

Volume/Issue: 1989/76

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 September 1989

DOI: http://dx.doi.org/10.5089/9781451957006.001

ISBN: 9781451957006

Keywords: public enterprises, public enterprise, private enterprises, public enterprise sector, enterprise sector

In many countries, the activities of public enterprises have an important fiscal impact. While the precise nature of this impact is often obscured, it is important that it be reflected in measures of overall fiscal...

Public Enterprise in Mixed Economies
			: Some Macroeconomic Aspects

Public Enterprise in Mixed Economies : Some Macroeconomic Aspects »

Series: Books

Author(s): Clive Gray , R. Short , and Robert Floyd

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1984

DOI: http://dx.doi.org/10.5089/9780939934300.071

ISBN: 9780939934300

Keywords: public enterprise, public enterprises, public enterprise sector, enterprise sector, financial institutions

This volume, written by Robert H. Floyd, Clive S. Gray, and R.P. Short, contains three papers dealing with various aspects of the public enterprise sector and the impact that these may have on macroeconomic analysi...