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The Evolving Role of Fiscal Policy in Centrally Planned Economies Under Reform

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1989-03-31

Total Pages: 42

ISBN-13: 1451981694

Market-oriented economic reforms in centrally planned economies have altered the functions and objectives of key policy instruments, particularly in the case of fiscal policy. As a result of reform, economic management requires the use of “indirect” levers to regulate the behavior of increasingly autonomous economic agents. In this respect, fiscal policy becomes central and its macroeconomic role is enhanced. This paper studies the recent Chinese experience, reviewing fiscal developments and analyzing the effectiveness and appropriateness of available fiscal instruments in performing their newly enhanced macroeconomic role.

The Evolving Role of Fiscal Policy in Centrally Planned Economies Under Reform

Author: Mario I. Bléjer

Publisher:

Published: 1989

Total Pages: 50

ISBN-13:

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Taxation in Centrally Planned Economies

Author: P.T. Wanless

Publisher: Routledge

Published: 2018-06-28

Total Pages: 154

ISBN-13: 1351107194

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Economists studying comparative economic systems have generally neglected the important question of taxation in socialist countries. This is somewhat surprising since taxation plays an important role in the regulation of economic activity in these countries. This book, first published in 1985, aims to restore the study of taxation to its rightful role in comparative economic studies. It stresses the importance of taxation and the state budget and argues that these are tools of economic policy which complement central economic planning.

Fiscal Policy and Long-Term Growth

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2015-04-20

Total Pages: 257

ISBN-13: 1498344658

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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.

The Romanian Economic Reform Program

Author: Mr.Dimitri G. Demekas

Publisher: International Monetary Fund

Published: 1991-08-01

Total Pages: 56

ISBN-13: 1451850247

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With the start of the process of its transition to a market economy in early 1990, Romania joined the ranks of other reforming Eastern European countries. At the starting point of its reform program, however, Romania was in a deep economic and institutional crisis and had no experience in even modest attempts to reform its economy. This paper outlines the main characteristics of the Romanian economic system before the reform, and presents the evolution of the reform program, as well as its achievements in the first year or so since it was launched.

Fiscal Policies in Economies in Transition

Author: Mr.Vito Tanzi

Publisher: International Monetary Fund

Published: 1992-06-01

Total Pages: 376

ISBN-13: 9781557751911

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The collapse of central economic planning in many countries and the breakup of the Soviet Union have put into disarray systems of government revenues and expenditures in those countries. This collection of 16 papers, edited by Vito Tanzi, analyzes the strengths and weaknesses of fiscal policies under the old system of central planning and suggests ways to revitalize those policies in the newly emerging market economies.

The Chicago Plan Revisited

Author: Mr.Jaromir Benes

Publisher: International Monetary Fund

Published: 2012-08-01

Total Pages: 71

ISBN-13: 1475505523

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At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.

The New Europe: Evolving Economic and Financial Systems in East and West

Author: D.E. Fair

Publisher: Springer Science & Business Media

Published: 1993-03-31

Total Pages: 462

ISBN-13: 9780792321590

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The papers collected in this volume are those presented at the seventeenth Collo quium arranged by the Societe Universitaire Europeenne de Recherches Financieres (SUERF), which took place in Berlin in October 1992. The Society is supported by a large number of central banks and commercial banks, by other fmancial and business institutions and by personal subscriptions from academics and others interested in monetary and fmancial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, research results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloqu~ for which volumes of the collected papers were published are noted on the last page of this volume.

Banking Reforms and Monetary Policy in the People's Republic of China

Author: Y. Guo

Publisher: Springer

Published: 2002-09-06

Total Pages: 186

ISBN-13: 1403914540

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From 1993-1995 the People's Republic of China undertook a series of reforms designed to modernise their banking and financial systems, the process of financial intermediation and to implement a sound and credible monetary policy in China. They based these reforms on the Federal Reserve System in the USA. This book analyses these reforms and assesses the effectiveness of the monetary policy that was put in place and shows whether it can withstand China's accession to the WTO.

Foreign Direct Investment in Transitional Economies

Author: Michael Du Pont

Publisher: Springer

Published: 2000-08-17

Total Pages: 324

ISBN-13: 0333977521

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Foreign Direct Investment in Transitional Economies presents a detailed investigation into the recent changes in the patterns and determinants in inflows of FDI to transitional economies. The author re-evaluates conventional theories of FDI, and analyses the many changes taking place in the nature of international business, both in terms of the drives of the trans-border transactions, and the strategic orientation of the firms that engage in those transactions. This comparative investigation is based on original research detailing the experiences of FDI in the economies of China and Poland through case studies of over 200 multinationals, and takes into account the dynamic forces of globalization and their effects on FDI.