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150128 ||| eng |
| 020 |
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|a 9781451848724
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| 100 |
1 |
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|a Calvo, Guillermo
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| 245 |
0 |
0 |
|a Obstacles to Transforming Centrally-Planned Economies
|b The Role of Capital Markets
|c Guillermo Calvo, Jacob Frenkel
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1991
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| 300 |
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|a 19 pages
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| 651 |
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4 |
|a Bulgaria
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| 653 |
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|a Comparison of Public and Private Enterprises and Nonprofit Institutions
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| 653 |
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|a Credit
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| 653 |
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|a Privatization
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| 653 |
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|a Finance
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| 653 |
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|a Budget Systems
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| 653 |
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|a Capital markets
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| 653 |
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|a Trade Policy
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| 653 |
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|a Open Economy Macroeconomics
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| 653 |
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|a Exports and Imports
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| 653 |
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|a International Lending and Debt Problems
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| 653 |
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|a Budgeting
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| 653 |
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|a Money
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| 653 |
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|a International Financial Markets
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| 653 |
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|a Financial markets
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| 653 |
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|a International trade
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| 653 |
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|a Budget
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Public financial management (PFM)
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| 653 |
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|a National Budget
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| 653 |
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|a International Trade Organizations
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Monetary economics
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Trade liberalization
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Capital market
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| 653 |
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|a Budget planning and preparation
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a International economics
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| 653 |
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|a Economic sectors
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| 653 |
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|a Commercial policy
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| 653 |
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|a Contracting Out
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| 653 |
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|a Budgeting & financial management
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Finance: General
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| 700 |
1 |
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|a Frenkel, Jacob
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781451848724.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/1991/066/001.1991.issue-066-en.xml?cid=944-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a This paper identifies obstacles hindering the transformation of centrally-planned economies (CPEs) into well-functioning market economies. The obstacles identified relate to (i) anticipatory dynamics, (ii) monetary overhang and the budget, and (iii) underdeveloped credit markets. It is demonstrated that these obstacles inhibit the effectiveness of price reform, monetary and credit policies, and trade liberalization. The analysis focuses on various ways to remove the obstacles. In this regard, a special examination is made of the implications of “cleaning” the balance sheets of enterprises and banks from nonperforming loans, as well as ways to enhance credibility. The paper concludes with a brief discussion of sequencing, “safety nets,” and their associated obstacles
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