Cover IMF Working Papers
The Transition Economies After Ten Years
Author: Mr. Stanley Fischer and Ms. Ratna Sahay
Series:
IMF Working Papers
Volume/Issue:
Volume 2000: Issue 030
Language:
English
Publication Date:
01 Feb 2000
DOI:
https://doi.org/10.5089/9781451844900.001
ISBN:
9781451844900
ISSN:
1018-5941
Pages:
44
Keywords:
WP; OFSU country; transition economy; CEE country; exchange rate; market economy; countries in the CEE; Privatization; Structural reforms; Inflation; Fiscal stance; Government debt management; Baltics
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 summarizes the macroeconomic performance of the transition economies. We first review the initial conditions confronting these economies, the reform strategy that was proposed, and the associated controversies that arose a decade ago. We then account for the widely different outcomes, highlighting the role of exogenous factors and the macroeconomic and structural policies adopted by the countries. We find that both stabilization policies and structural reforms, particularly privatization, contribute to growth. We also conclude that the faster is the speed of reforms, the quicker is the recovery and the higher is growth.
Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund

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