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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Bibliographic Details
Main Author: Aghevli, Bijan
Other Authors: Van der Willigen, Tessa, Borensztein, Eduardo
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1992
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Stabilization and Structural Reform in Czechoslovakia  |b An Assessment of the First Stage  |c Bijan Aghevli, Tessa Van der Willigen, Eduardo Borensztein 
260 |a Washington, D.C.  |b International Monetary Fund  |c 1992 
300 |a 44 pages 
651 4 |a Slovak Republic 
653 |a Comparison of Public and Private Enterprises and Nonprofit Institutions 
653 |a Depository Institutions 
653 |a Inflation 
653 |a Privatization 
653 |a Banks 
653 |a Banks and banking 
653 |a Currency; Foreign exchange 
653 |a Deflation 
653 |a Micro Finance Institutions 
653 |a Trade: General 
653 |a Exports and Imports 
653 |a Mortgages 
653 |a Economic sectors 
653 |a International economics 
653 |a Foreign Exchange 
653 |a Price Level 
653 |a International trade 
653 |a Exports 
653 |a Banks and Banking 
653 |a Contracting Out 
653 |a Socialist Institutions and Their Transitions: General 
653 |a Prices 
653 |a Macroeconomics 
653 |a Banking 
653 |a Imports 
653 |a Foreign exchange 
653 |a Socialist Systems and Transitional Economies: General 
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700 1 |a Borensztein, Eduardo 
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520 |a 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