“Obstacles to Transforming Centrally Planned Economies: The Role of Capital Markets,” by Guillermo A. Calvo and Jacob A. Frenkel [91/66]

“Monetary Growth and Exchange Rate Depreciation as Causes of Inflation in African Countries: An Empirical Analysis,” by Elie Canetti and Joshua Greene [91/67]

“Real Exchange Rate Targeting Under Capital Controls: Can Money Provide a Nominal Anchor?” by Peter J. Montiel and Jonathan D. Ostry [91/68]

“Key Questions in Considering a Value-Added Tax for Central and Eastern European Countries,” by Sijbren Cnossen [91/69]

“Inflation, Stabilization, and Economic Transformation in Poland: The First Year,” by Timothy D. Lane [91/70]

“Economic Growth in Latin America.” by José De Gregorio [91/71]

“The Growth of Indian Public Debt: Dimensions of the Problem and Corrective Measures,” by Raja J. Chelliah [91/72]

“Valuation and Treatment of Depletable Resources in the National Accounts,” by Jonathan Levin [91/73]

“The Restoration of Latin America's Access to Voluntary Capital Market Financing: Developments and Prospects,” by Mohamed A. El-Erian [91/74]

“Fiscal Constraints on Market-Oriented Reform in a Socialist Economy,” by Timothy D. Lane and Elias Dinopoulos [91/75]

“Index Number Biases During Price Liberalization,” by Kent Osband [91/76]

“Exchange-Rate-Based Stabilization Under Imperfect Credibility,” by Guillermo A, Calvo and Carlos A. Végh [91/77]

“Growth, Distribution, and Politics,” by Torsten Persson and Guido Tabellini [91/78]

“Testing the Credibility of the Belgian Hard Currency Policy,” by Vincent R, Koen [91/79]

“The Romanian Economic Reform Program,” by Dimitri G. Demekas and Mohsin S. Khan [91/80]

“Colombia: Economic Adjustment and the Poor,” by Claire Liuksila [91/81]

“Jordan: Restructuring Public Expenditures and Protecting the Poor,” by S. Ehtisham Ahmad [91/82]

“Mexico's External Debt and the Return to Voluntary Capital Market Financing,” by Mohamed A. El-Erian [91/83]

“Testing a Disequilibrium Model of Lending Rate Determination: The Case of Malaysia,” by Barry Scholnick [91/84]

“China: Macroeconomic Cycles in the 1980s,” by Hoe Ee Khor [91/85]

“The Effect of the ERM on Participating Economies,” by Tamim Bayoumi [91/86]

“Credibility and Exchange Rate Management in Developing Countries,” by Pierre-Richard Agénor [91/87]

“Islamic Banking,” by Mohsin S. Khan and Abbas Mirakhor [91/88]

“Market-Based Fiscal Discipline in Monetary Unions: Evidence from the U.S. Municipal Bond Market,” by Morris Goldstein and Geoffrey Woglom [91/89]

“Exchange Rate Regime Choice,” by Robert P. Flood and Nancy P. Marion [91/90]

“Fiscal Impulse,” by Garry J. Schinasi and Mark S. Lutz [91/91]

A limited supply of IMF Working Papers is available free of charge to interested scholars and research institutions. In requesting a particular paper (or papers), please indicate the Working Paper number (for example, WP/91/1), title, and author(s). Requests should be made to:

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