The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
This paper reviews the extent to which the Fund’s trade policy advice to the Baltic countries, Russia and other countries of the Former Soviet Union has been implemented. It broadly traces the evolution of trade policies, emphasizing the period from mid-1993 through end-1995, attempting to identify some of the factors affecting uneven progress in trade reform. Based on insights from the public choice literature on endogenous policy theory, the paper makes recommendations for refining Fund advice with a view to facilitating future progress on the trade-policy front.