From Centrally-Planned to Market Economies: The Road from CPE to PCPE
This paper deals with the early stages of transformation of centrally-planned economies (CPEs) into market economies during which expectations play a key role. It focuses on the transitional phase during which the economy is not any more a CPE but has not yet become a market economy. During this pha...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
1991
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 91/17 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper deals with the early stages of transformation of centrally-planned economies (CPEs) into market economies during which expectations play a key role. It focuses on the transitional phase during which the economy is not any more a CPE but has not yet become a market economy. During this phase the economy is referred to as a "previously centrally-planned economy" (PCPE). A simple model is developed to analyze the consequences of expected price liberalization. The CPEs undergoing transformation lack depth and breadth of financial markets. The analysis illustrates the benefits from an early development of such markets. It demonstrates the cost of a fine-tuning strategy and the benefits from a quick implementation of price reform. The paper also examines means to reduce "liquidity overhang," and shows that they involve taxation of one form or another. The consequences of privatization are analyzed and the benefits from an early development of an effective tax system highlighted |
| Beschreibung: | 1 Online-Ressource (36 p) |
| ISBN: | 1451843445 9781451843446 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:21Z |
| indexdate | 2024-07-10T09:35:28Z |
| institution | BVB |
| isbn | 1451843445 9781451843446 |
| language | English |
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| oclc_num | 1337120199 |
| open_access_boolean | |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Frenkel, Jacob A. Verfasser aut From Centrally-Planned to Market Economies The Road from CPE to PCPE Frenkel, Jacob A Washington, D.C International Monetary Fund 1991 1 Online-Ressource (36 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 91/17 This paper deals with the early stages of transformation of centrally-planned economies (CPEs) into market economies during which expectations play a key role. It focuses on the transitional phase during which the economy is not any more a CPE but has not yet become a market economy. During this phase the economy is referred to as a "previously centrally-planned economy" (PCPE). A simple model is developed to analyze the consequences of expected price liberalization. The CPEs undergoing transformation lack depth and breadth of financial markets. The analysis illustrates the benefits from an early development of such markets. It demonstrates the cost of a fine-tuning strategy and the benefits from a quick implementation of price reform. The paper also examines means to reduce "liquidity overhang," and shows that they involve taxation of one form or another. The consequences of privatization are analyzed and the benefits from an early development of an effective tax system highlighted Online-Ausg Calvo, Guillermo Sonstige oth http://elibrary.imf.org/view/IMF001/02667-9781451843446/02667-9781451843446/02667-9781451843446.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Frenkel, Jacob A. From Centrally-Planned to Market Economies The Road from CPE to PCPE |
| title | From Centrally-Planned to Market Economies The Road from CPE to PCPE |
| title_auth | From Centrally-Planned to Market Economies The Road from CPE to PCPE |
| title_exact_search | From Centrally-Planned to Market Economies The Road from CPE to PCPE |
| title_exact_search_txtP | From Centrally-Planned to Market Economies The Road from CPE to PCPE |
| title_full | From Centrally-Planned to Market Economies The Road from CPE to PCPE Frenkel, Jacob A |
| title_fullStr | From Centrally-Planned to Market Economies The Road from CPE to PCPE Frenkel, Jacob A |
| title_full_unstemmed | From Centrally-Planned to Market Economies The Road from CPE to PCPE Frenkel, Jacob A |
| title_short | From Centrally-Planned to Market Economies |
| title_sort | from centrally planned to market economies the road from cpe to pcpe |
| title_sub | The Road from CPE to PCPE |
| url | http://elibrary.imf.org/view/IMF001/02667-9781451843446/02667-9781451843446/02667-9781451843446.xml |
| work_keys_str_mv | AT frenkeljacoba fromcentrallyplannedtomarketeconomiestheroadfromcpetopcpe AT calvoguillermo fromcentrallyplannedtomarketeconomiestheroadfromcpetopcpe |