On the Sequencing of Reforms in Eastern Europe

February 1, 1991

Preview Citation

Format: Chicago

Hans Genberg. On the Sequencing of Reforms in Eastern Europe, (USA: International Monetary Fund, 1991) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Economic sectors, Income distribution, National accounts, Price structures, Prices, Privatization, Public enterprises, Public sector

Keywords: Decentralized enterprise control, Eastern Europe, Economic system, Enterprise management, Enterprise reform, Excess demand, Income distribution, Price structures, Privatization, Privatized firm, Public enterprises, Public sector, WP

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1991/013
Stock No:

WPIEA0131991
ISBN:

9781451924718
ISSN:

1018-5941

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