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On the Sequencing of Reforms in Eastern Europe
Author:
Mr. Hans Genberg null

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Series:
IMF Working Papers
Volume/Issue:
Volume 1991: Issue 013
Language:
English
Publication Date:
01 Feb 1991
DOI:
https://doi.org/10.5089/9781451924718.001
ISBN:
9781451924718
ISSN:
1018-5941
Pages:
42
Keywords:
WP; economic system; enterprise management; privatized firm; excess demand; decentralized enterprise control; enterprise reform; Privatization; Public sector; Price structures; Income distribution; Public enterprises; Eastern Europe
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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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 economies will be smoother and less costly if a clear statement of the ultimate goals of the reforms is made at the outset. Interdependence between different aspects of the reforms implies that an appropriate strategy is to move on a broad front from the very beginning of the transformation process dealing simultaneously with macroeconomic stabilization, price reforms and convertibility, and privatization of state enterprises. It is also argued that a rapid reform process is preferable to a gradual one.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund