Download or read book From Command to Market Economy in Hungary Under the Guidance of the IMF written by Pongrác Nagy and published by Akademiai Kiads. This book was released on 2003 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Hungary decided to change its system from a command to a market economy, it was persuaded by friendly governments and international organizations, including the International Monetary Fund, that this could be best done under the guidance of the IMF, assisted by the World Bank. Inexperienced and trusting governments believed this and did as they were told. As a consequence, monetarism and neo-liberalism, by virtue of the Washington Consensus, were brought to Hungary and became the ruling ideologies of this transition economy that was totally unsuited to them.The consequences were disastrous. A difficult economic situation was transformed into a crisis situation: unprecedented depression with 18.2% decline of gdp; the loss of 3 years of output and 1.5 million jobs; 24% decline in real incomes, 31% decline in the purchasing power of pensions; the pauperization of a large segment of the population; deterioration of external competitive position; emergence of a large public debt; and d

Download or read book The Romanian Economic Reform Program written by Mr.Dimitri G. Demekas and published by International Monetary Fund. This book was released on 1991-06-15 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper outlines the main characteristics and the development of the centrally planned economic sysetm in Romania before the beginnings of the transition to a market eonomy it then presents the design, objectives, and implementation of the reform program.

Download or read book Monetary and Exchange System Reforms in China written by Mr.Bernard Laurens and published by International Monetary Fund. This book was released on 1996-09-26 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.

Download or read book The Political Economy of Hungary written by Adam Fabry and published by Springer. This book was released on 2019-04-03 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the political economy of Hungary from the mid-1970s to the present. Widely considered a ‘poster boy’ of neoliberal transformation in post-communist Eastern Europe until the mid-2000s, Hungary has in recent years developed into a model ‘illiberal’ regime. Constitutional checks-and-balances are non-functioning; the independent media, trade unions, and civil society groups are constantly attacked by the authorities; there is widespread intolerance against minorities and refugees; and the governing FIDESZ party, led by Prime Minister Viktor Orbán, controls all public institutions and increasingly large parts of the country’s economy. To make sense of the politico-economical roller coaster that Hungary has experienced in the last four decades, Fabry employs a Marxian political economy approach, emphasising competitive accumulation, class struggle (both between capital and labour, as well as different ‘fractions of capital’), and uneven and combined development. The author analyses the neoliberal transformation of the Hungarian political economy and argues that the drift to authoritarianism under the Orbán regime cannot be explained as a case of Hungarian exceptionalism, but rather represents an outcome of the inherent contradictions of the variety of neoliberalism that emerged in Hungary after 1989.

Download or read book In Pursuit of Liberalism written by Rachel A. Epstein and published by JHU Press. This book was released on 2008-09-29 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Though the fall of the Soviet Union opened the way for states in central and eastern Europe to join the world of market-oriented Western democracies, the expected transitions have not been as easy, common, or smooth as sometimes perceived. Rachel A. Epstein investigates how liberal ideas and practices are embedded in transitioning societies and finds that success or failure depends largely on creating a social context in which incentives held out by international institutions are viewed as symbols of an emerging Western identity in the affected country. Epstein first explains how a liberal worldview and institutions like the European Union, World Bank, the International Monetary Fund, and the North Atlantic Treaty Organization go hand-in-hand and why Western nations assume that a broad and incremental program of incentives to join will encourage formerly authoritarian states to reform their political and economic systems. Using Hungary, Poland, Romania, and the Ukraine as case studies, she demonstrates the limits of conditionality in the face of national social perceptions and elucidates the three key points around which a consensus within the state must emerge before international institutions can expect liberalization: domestic officials must be uncertain about how changing policies will affect their interests; the status of international and domestic institutions must not be in jeopardy; and the proposed polices must seem credible. In making her case, Epstein cleverly bridges the gap between the rationalist and constructivist schools of thought. Offering new data on and fresh interpretations of reforming central bank policies, privatizing banks with foreign capital, democratizing civil-military relations, and denationalizing defense policy, In Pursuit of Liberalism extends well beyond the scope of previous book-length studies.

Download or read book Citizenship in an Enlarging Europe written by B. Einhorn and published by Springer. This book was released on 2006-06-06 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Citizenship in an Enlarging Europe considers the impact of economic, political and social transformation in Central and Eastern Europe in the context of EU enlargement. The author uses the lens of gender to examine the processes of democratization, marketization and nationalism.

Download or read book The War Over Work written by Don Edgar and published by Melbourne Univ. Publishing. This book was released on 2005-01-01 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many workers are caught in a spiral of longer hours, growing job insecurity, work stress and family conflict. Many want to spend more time with their family but fear being labelled uncommitted. The War Over Work is a bold and authoritative account of work patterns and the labour market in Australia. As Edgar sees it, the future workplace is a battleground, with struggles between corporate need and private greed, unions and employers, men and women, old and young. The re-election of the Howard Government promises to make these battles even more contested. In this accessible and engaging book Edgar argues that we cannot continue to focus narrowly on 'the work-family balance' as though it can be achieved through simple programs within individual Australian workplaces. The War Over Work provides a blueprint for how we can win the war to get a life that works. Dr Don Edgar is a sociologist and influential public commentator. He was foundation Director (for 14 years) of the Australian Institute of Family Studies. Since then he has directed the innovative New Links Workplace Project and acted as consultant to governments and business on work-family policies and programs. His publications include Men, Mateship, Marriage and The Patchwork Nation: Rethinking Government, Rebuilding Community.

Download or read book Income Inequality and Poverty During the Transition from Planned to Market Economy written by Branko Milanovi? and published by World Bank Publications. This book was released on 1998 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Bank Technical Paper No. 394. Joint Forest Management (JFM) has emerged as an important intervention in the management of Indias forest resources. This report sets out an analytical method for examining the costs and benefits of JFM arrangements. Two pilot case studies in which the method was used demonstrate interesting outcomes regarding incentives for various groups to participate. The main objective of this study is to develop a better understanding of the incentives for communities to participate in JFM.

Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.

Download or read book Monetary Instruments and their Use During the Transition From a Centrally Planned to a Market Economy written by Mr.Paul Louis Ceriel Hilbers and published by International Monetary Fund. This book was released on 1993-11-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses different instruments of monetary policy, and in particular the choice between direct and indirect instruments. It identifies the main characteristics of a country’s financial system that should be considered in selecting monetary instruments, and analyzes how these characteristics should influence that selection in countries that are progressing from a state-controlled to a market economy. The characteristics of the financial system during the initial stage of the transition sometimes favor relatively direct instruments. At this stage market-based variants of direct instruments may combine the necessary effectiveness in reducing monetary expansion with the need to introduce and stimulate competition in the financial markets. During this stage indirect instruments can be developed and tested (“belt and braces” approach). In later stages, as experience is gained, these indirect instruments can gradually replace the more direct controls.

Download or read book China s Growth and Integration Into the World Economy written by Eswar Prasad and published by International Monetary Fund. This book was released on 2004-06-17 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s transformation into a dynamic private-sector-led economy and its integration into the world economy have been among the most dramatic global economic developments of recent decades. This paper provides an overview of some of the key aspects of recent developments in China’s macroeconomy and economic structure. It also surveys the main policy challenges that will need to be addressed for China to maintain sustained high growth and continued global integration.

Download or read book The International Monetary System written by Rakesh Mohan and published by International Monetary Fund. This book was released on 2013-11-05 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial crises. The renewed focus on the broader role of the central banks, away from narrow price stability monetary policy frameworks, is necessary to ensure domestic macroeconomic and financial stability. Since international monetary cooperation might be difficult, though desirable, central banks in major advanced economies, going forward, need to internalize the implications of their monetary policies for the rest of the global economy to reduce the incidence of financial crises.

Download or read book The Transition From Command To Market Economies In East central Europe written by Sandor Richter and published by Routledge. This book was released on 2019-09-10 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now that the euphoria over political change has died down, the formerly socialist countries of Eastern and Central Europe are facing an economic crisis. The contributors to this well-established annual publication consider the key factors affecting the economic transition process, analyzing possible strategies for successful reform including the use of "shock theory" to accelerate the process. As well as examining various country-specific problems, the authors explore the status of the Central European countries seeking integration with the European Economic Community, and ask whether all the former socialist countries might do well to adopt some of the economic development strategies used so successfully by the nations of Southeast Asia.

Download or read book Fair and Inclusive Markets Why Dynamism Matters written by Philippe Aghion and published by International Monetary Fund. This book was released on 2021-02-05 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show empirical evidence that there may not be a tradeoff between market income inequality and high sustained growth, which is key for poverty alleviation. We argue that the economies that achieved high sustained growth and low market income inequality are characterized by dynamism—a drive toward sophisticated export industries, innovation, and creative destruction and a high level of competition. What a country produces and how much it competes domestically and internationally are important for achieving fair and inclusive markets. We explore policy options to steer industrial and market structures toward providing growth opportunities for both workers and firms.

Download or read book Mastering the Risky Business of Public Private Partnerships in Infrastructure written by Manal Fouad and published by International Monetary Fund. This book was released on 2021-05-10 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment in infrastructure can be a driving force of the economic recovery in the aftermath of the COVID-19 pandemic in the context of shrinking fiscal space. Public-private partnerships (PPP) bring a promise of efficiency when carefully designed and managed, to avoid creating unnecessary fiscal risks. But fiscal illusions prevent an understanding the sources of fiscal risks, which arise in all infrastructure projects, and that in PPPs present specific characteristics that need to be addressed. PPP contracts are also affected by implicit fiscal risks when they are poorly designed, particularly when a government signs a PPP contract for a project with no financial sustainability. This paper reviews the advantages and inconveniences of PPPs, discusses the fiscal illusions affecting them, identifies a diversity of fiscal risks, and presents the essentials of PPP fiscal risk management.

Download or read book State Owned Enterprises in Middle East North Africa and Central Asia Size Costs and Challenges written by Mr. Ernesto Ramirez Rigo and published by International Monetary Fund. This book was released on 2021-09-20 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the COVID-19 shock, the key challenge facing policymakers in the Middle East, North Africa, and Central Asia region was how to generate strong, sustainable, job-rich, inclusive growth. Post-COVID-19, this challenge has only grown given the additional reduction in fiscal space due to the crisis and the increased need to support the recovery. The sizable state-owned enterprise (SOE) footprint in the region, together with its cost to the government, call for revisiting the SOE sector to help open fiscal space and look for growth opportunities.

Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.