Countries with more developed financial sectors, experience fewer fluctuations in real per capita output, consumption, and investment growth. But the manner in which the financial sector develops matters...
The authors assess the presence and extent of involuntary savings by comparing the predicted savings rates of market economies with those of the pre-transition economies. On balance, predicted savings...
During the transition from central planning to market economies now under way in Eastern Europe, output levels first collapsed by 40 to 50 percent in most countries, then staged a modest recovery in the...
Recent developments in a number of emerging economies have heightened interest in the relationship between macroeconomic management and financial regulation, in an environment of open capital accounts...
Financial systems in developing countries tend to be "restricted" or "repressed" through burdensome reserve requirements, interest-rate ceilings, foreign-exchange regulations, rules about the composition...
Patterns of transition from plan to market. Martha de Melo, Cevdet Denizer, and Alan Gelb Hungary's bankruptcy experience, 1992-1993. Cheryl W. Gray, Sabine Schlorke, and Miklos Szanyi Why and when do...
In analyzing the transitional experience of countries in Central and Eastern Europe (CEE) and the former Soviet Union (FSU), the authors find strong common patterns for countries at similar stages of reform...
The authors examine the process of economic transformation in Mongolia, a huge, isolated, sparsely populated country. After identifying factors that led to formulation of a radical adjustment program in...