Stabilization and Structural Reform in Czechoslovakia An Assessment of the First Stage
This paper analyzes the Czechoslovak reform program which was launched on January 1, 1991. Under this program, Czechoslovakia has taken decisive steps to establish a market economy, while achieving price stability and a viable external position through restrictive financial policies. But there has b...
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| Other Authors: | , |
| Format: | eBook |
| Language: | English |
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Washington, D.C.
International Monetary Fund
1992
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| Series: | IMF Working Papers
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| Online Access: | |
| Collection: | International Monetary Fund - Collection details see MPG.ReNa |
| Summary: | This paper analyzes the Czechoslovak reform program which was launched on January 1, 1991. Under this program, Czechoslovakia has taken decisive steps to establish a market economy, while achieving price stability and a viable external position through restrictive financial policies. But there has been a sharp decline in output. The eventual output recovery is predicated on completing structural market reforms, such as the development of financial markets and the safeguard of their stability, privatization of large enterprises, minimizing government interference with economic signals, and the imposition of the “hard” budget constraint |
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| Physical Description: | 44 pages |
| ISBN: | 9781451841671 |