Download or read book Fiscal Reform Over Ten Years of Transition written by Mr.Vito Tanzi and published by INTERNATIONAL MONETARY FUND. This book was released on 2000-06-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes fiscal reforms in transition economies during the decade leading up to 1998. The paper argues that macroeconomic stabilization, price liberalization and privatization—the core reforms visualized by the shock therapy approach—are necessary but not sufficient conditions for a complete transition to a market economy. Further deep changes—such as the creation of new fiscal institutions, changes in incentives and processes, and changes in the role of government—are needed.

Download or read book Fiscal Reform Over Ten Years of Transition written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund (IMF) presents the full text of an article entitled "Fiscal Reform Over Ten Years of Transition," by Vito Tanzi and George Tsibouris and published June 2000. The article discusses the fiscal reforms in transition economies during the decade leading up to 1998. It is argued that macroeconomic stabilization, price liberalization, and privatization are necessary but not sufficient conditions for a complete transition to a market economy.

Download or read book Fiscal Reform Over Ten Years of Transition written by Vito Tanzi and published by . This book was released on 2006 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes fiscal reforms in transition economies during the decade leading up to 1998. The paper argues that macroeconomic stabilization, price liberalization and privatization--he core reforms visualized by the shock therapy approach--are necessary but not sufficient conditions for a complete transition to a market economy. Further deep changes--such as the creation of new fiscal institutions, changes in incentives and processes, and changes in the role of government--are needed.

Download or read book The Transition Economies After Ten Years written by Stanley Fischer and published by . This book was released on 2000 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: While output declined in virtually all transition economies in the initial years, the speed and extent of the recovery that followed has varied widely across these countries. The contrast between the more and less successful transitions, the latter largely in the former Soviet Union, raises many questions about the relative roles played by adverse initial conditions, external factors, and reform strategies. 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, contributed to the growth recovery. We also conclude that the faster is the speed of reforms, the quicker is the recovery and the higher is growth.

Download or read book A Decade of Fiscal Transition written by Asad Alam and published by . This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Ten Years of Post socialist Transition Lessons for Policy Reform written by Grzegorz W. Kolodko and published by World Bank Publications. This book was released on 1999 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Transition the First Ten Years written by Pradeep Mitra and published by World Bank Publications. This book was released on 2002 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: The wide variation in transition economies raises questions about differences in economic growth, the applicability of transition policies, and the advantages of economic reform. This report seeks to answer these questions.

Download or read book Privatization in Transition Economies written by Ira W. Lieberman and published by Jai. This book was released on 2008 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together contributions from a diverse group of authors each of whom have worked extensively on privatization and related reforms, such as restructuring and bankruptcy, in the transition economies of Central and Eastern Europe (CEE), the Commonwealth of Independent States (CIS), sometimes referred to as the Former Soviet Union, and South East Europe (SEE). A chapter on Chinese state enterprise reforms and privatization has been included in this volume due to China??'s importance economically and politically, its successful reform program to-date and its unique approach to reforms. The volume is largely a retrospective of the ten or so years of reform from 1990 to 2000, focused on privatization in the transition countries since the fall of the Berlin Wall, the peaceful revolutions in Poland and in then Czechoslovakia (now the Czech and Slovak Republics), the break-up of the Soviet Union and the formation of the Russian Federation. Most of the contributors to this volume worked closely with the leading reformers in Government during this period to assist them in designing and implementing their privatization programs. One of the contributors was directly involved in the process as a leading reformer in his country, as a Deputy Minister of Economy and as Director of its Privatization Agency. For the most part, sufficient time has passed to allow the authors to now treat their subject objectively. Serbia and China are unique in comparison to the other countries discussed in this volume, as their state enterprise reform and privatization programs are still on going. China started earlier than the other transition economies, but continue to the present time, due to what someanalysts have described as a more gradualist approach to reforms that the other transition economies. Serbia was a late reformer due to the break-up of Yugoslavia, the conflict in the region and its years of isolation. Also, Serbia had to deal with the legacy of socially owned enterprises, not state-owned enterprises as in the other transition economies. Serbia is now in the process of trying to determine how to wind-up its program. While the volume is primarily a retrospective, the overview chapter provides lessons learned on banking and infrastructure reforms and the concluding chapter on lessons learned is forward looking. There is still much to do in many of these countries, especially in the CIS and SEE, the Asian transition economies such as Viet Nam and eventually in North Korea and Cuba. The concluding chapter draws concrete lessons from the earlier experience that could be of value to these countries. As such, this volume is a unique contribution to the current academic literature on the transition economies and on privatization. *Original articles by experts on their subjects *One of the contributors was directly involved in the process as a leading reformer in his country

Download or read book The Development of Property Taxation in Economies in Transition written by Jane H. Malme and published by World Bank Publications. This book was released on 2001-01-01 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book details the context within which policy decisions and objectives for the property tax system are made in the transitional economies of Central and Eastern Europe. It shows how these policy decisions evolve as a part of the transitional reforms still in process. This book offers the chance to review the experiences of transitional countries in initiating and implementing fiscal instruments during a decade of enormous transformations. The research for the case studies, included in this book, was sponsored by the Lincoln Institute of Land Policy.

Download or read book The Political Economy of Fiscal Reform in Central Eastern Europe written by Frank Bönker and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Frank Bönker has done a masterful job. . . This is probably the best book available on this important subject. and its significance is not limited to studies of postcommunist societies. It has important theoretical implications for everyone interested in the Political Economy of Policy Reform perspective within the field of comparative political economy.' - John L. Campbell, Slavic Review

Download or read book Budgeting and Fiscal Management in Transitional Economies written by Jorge Martinez-Vazquez and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past ten years have been witness to one of the largest experiments in economic history, namely the transition of centrally planned economies to market-based economies. While policy reform in transitional countries has encompassed virtually every sector of the economy, modernization of public sector budgeting practices and fiscal management techniques have been widely recognized as critical to the success of the economic transition experiment. However, the breadth and pace of fiscal management reform in countries in transition (CITs) has largely fallen short of expectations; a decade into the economic transition, none of the transitional economies has fully adopted modern budgeting and fiscal management techniques similar to those in western countries. A less efficient and less controllable public sector has made the task of macroeconomic management more difficult and overall has retarded economic recovery and growth in transitional countries. This paper investigates the main reasons for why fiscal management reform has failed to take hold during the first decade of the economic transition and discusses what challenges remain ahead in budget policy reform. While the timing of the transformation of the budgeting process from essentially a pure accounting mechanism during the communist era to a true fiscal management tool has not been identical in all CITs, the evolution of the reform process can be broken down into three distinct periods. During the first period, the early transition, most transitional economies saw some important economic reforms but a lack of budgeting and fiscal management reforms. Budget officials either felt comfortable with the status quo and felt little pressure to change the budget system inherited from the socialist regime or actively sought to preserve the budget institutions inherited from the previous regime. In the second transition period, CITs put in place a set of fiscal policy and fiscal management reforms, practically always in response to a macroeconomic crisis, which in some ways was brought about by the initial lack of fiscal management reform. However, as discussed below, this wave of reforms during the second transitional period was generally of an emergency nature and failed to establish a sound framework for fiscal discipline and accountable and efficient expenditure policies. As a result, renewed fiscal crisis spurred more structural fiscal reform efforts during the third, ongoing period of transition.

Download or read book Estimating Revenues from Tax Reform in Transition Economies written by Yolanda K. Kodrzycki and published by . This book was released on 1994 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Decade of Transition written by Mr.Oleh Havrylyshyn and published by International Monetary Fund. This book was released on 2001-04-27 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: To identify the lessons from the experience of 25 non-Asian transition countries, the IMF held a conference, "A Decade of Transition: Achievements and Challenges," on February 13, 1999, in Washington, D.C. The conference brought together senior government officials, staff from the European Bank for Reconstruction and Development, the IMF, the World Bank, and academics to answer three questions: How far has the transition progressed in different countries? What factors explain the differences in progress and in economic performance? And what remains to be done? The contributions in this volume cover a broad range of issues relevant to transition: financial stabilization, growth recovery, privatization, banking reform, income inequality, and the changing role of government. Transition countries have made substantial progress in financial stabilization, but progress with structural reforms and institutional development has been distinctly greater in Central Europe and the Baltics than in countries farther to the east. Second, although financial stabilization is essential for renewed economic growth, it is not enough: structural reforms and the development of market institutions must also be sufficiently advanced. Third, while in the next phase of transition the consolidation of stabilization will need to continue, the emphasis will need to shift to several other tasks: carrying through theunfinished structural agenda (especially in lagging countries), accelerating institutional development, addressing egregious cases of income inequality, and dealing firmly with corruption and the growth of vested interests.

Download or read book Ten Years of Postsocialist Transition written by Grzegorz W. Kolodko and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transition to a market economy is a lengthy process comprised of various spheres of economic activities. The naive belief that a market economy can be introduced by "shock therapy" is wrong, and in several cases, when attempted, has caused more problems than it has solved. Because a market economy requires adequate institutional structures and an appropriate behavior, transition can be executed only in a gradual manner, since these are very gradual processes based upon new organizations, new laws, and the changing behavior of various economic entities. In 1989, influential financial organizations, political bodies, and professional economists seemed to agree upon main points for economic policy reform. This was termed the Washington consensus. Despite the fact that the economic policy of the Washington consensus was initially developed without any concern for post-socialist transformation, it has happened that these ideas have significantly influenced the path of thought and action in Eastern Europe and the former Soviet Union. Because these policies were not intended for the overhaul of post-socialist countries, however, they have failed. A new, post-Washington consensus is developing, as it should, based on the lessons learned from experience thus far. Some major policy conclusions can be drawn: First, institutional arrangements are the most important factor for progress toward durable growth. Second, policy must recognize that institution building by its nature must be a gradual process. Third, policy makers must acknowledge that the size of the government is less important than the quality of its policy and the manner of the changes of government dimension. Fourth, if institutional arrangement is neglected and left to the spontaneous processes and unleashed forces of liberalized markets, then informal institutionalization fills the systemic vacuum. Fifth, in transition economies' policies must transform and streamline the judiciary system to serve the market economy. Sixth, a shift of competence and power from the central government to local governments is necessary for deregulation of the post-socialist economy. Seventh, there is an urgent necessity to accelerate the development of non-government organizations. Eight, during transition income policy and government concern for equitable growth has great meaning. Ninth, short-term capital liberalization must be monitored and controlled by the countries' fiscal and monetary authorities with the support of international financial institutions. Tenth, the Bretton Woods organizations should reconsider their policies toward transition economies aiming at institutional building and support for equitable growth.

Download or read book Fiscal Policy and Long Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.

Download or read book Completing Transition The Main Challenges written by Gertrude Tumpel-Gugerell and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Completing Transition: The Main Challenges" was the topic around which the Oesterreichische Nationalbank and the Joint Vienna Institute organized a high-level conference in 2000, in a continuation of long-standing efforts to promote the dialogue and understanding between various regions in Europe. Given the heterogeneity of the transition countries of Central and Eastern Europe and the heterogeneity of progress toward convergence, the outlook for finishing transition is divergent. However, what will generally be important is corporate governance and institutional reform to sufficiently underpin macroeconomic success, plus a definite commitment of the responsible institutions in the transition countries to follow the chosen policies consistently.

Download or read book Tax Systems and Tax Reforms in New EU Member States written by Luigi Bernardi and published by Routledge. This book was released on 2005-02-03 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building on the work carried out in the 2004 Routledge book, Tax Systems and Tax Reforms in Europe, an international team of contributors now turn their attention to the new EU member states. The book compares conditions in the new and potential EU Member states to those in the long-standing EU countries. Topics covered include: * A Comparative View of Taxation in the EU and in New Members * Tax Policy in EU New Members * Tax Policy in New Members under the Stability Pact * Tax Administration and the Black Economy. As well as investigating countries such as the Czech Republic, Estonia and the Baltics, Hungary, Poland and Slovenia, this outstanding book contains a foreword by Vito Tanzi and will be a valuable resource for postgraduates and professionals in the fields of economics, politics, finance and European studies.