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The Evolving Role of Fiscal Policy in Centrally Planned Economies Under Reform: The Case of China
Author:
International Monetary Fund
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Series:
IMF Working Papers
Volume/Issue:
Volume 1989: Issue 026
Language:
English
Publication Date:
01 Jan 1989
DOI:
https://doi.org/10.5089/9781451981698.001
ISBN:
9781451981698
ISSN:
1018-5941
Pages:
42
Keywords:
WP; responsibility system; enterprise reform; decision-making autonomy; household enterprise; enterprise savings; enterprise sector; market forces; Budget planning and preparation; Income; Global
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 1989: Issue 026