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Finance & Development
September 1, 2000
Emine Gurgen |
Central Asia: Achievements and Prospects Although the five Central Asian countries in transition have made progress in moving to a market economy, they still have far to go and need to intensify their reform efforts.   |
Finance & Development
June 1, 2002
Pradeep K. Mitra & Marcelo Selowsky |
Lessons from a Decade of Transition in Eastern Europe and the former Soviet Union A decade after the dissolution of the Soviet Union in late 1991, some transition economies are performing far better than others. Reducing barriers to entry is not enough -- hard budget constraints must also be imposed on the old money-losing state-owned enterprises. |
Finance & Development
September 1, 2000
Robert A. Feldman & C. Maxwell Watson |
Central Europe: From Transition to EU Membership The Central European countries have made considerable progress with the transition to a market economy and now face the challenge of developing macroeconomic policy frameworks on the road to EU accession. |
Finance & Development
March 1, 2001
Michael P. Keane & Eswar S. Prasad |
Poland: Inequality, Transfers, and Growth in Transition Poland is one of the great success stories of transition. Poland's success can be attributed to its early stabilization program, the strength of its subsequent market-oriented reforms, and generous social programs... |
Finance & Development
June 1, 2001
Roberts Zile &Inna Steinbuka |
Latvia on the Way to the European Union Having met most of the criteria for membership in the European Union, Latvia is addressing a few remaining challenges. These include closing the income gap and achieving structural, fiscal, and monetary convergence... |
Finance & Development
September 1, 2002
Lipschitz et al. |
The Tosovsky Dilemma: Capital Surges in Transition Countries Transition countries that open themselves up to global capital markets are vulnerable to large and potentially erratic flows. Such flows should not be seen as one-off destabilizing events: they are intrinsic to the transition process and therefore need to be factored into policy formulation. |
Finance & Development
September 1, 2000
Rene Weber & Gunther Taube |
Estonia Moves Toward EU Accession Estonia's rapid transition to a market economy and integration into the world economy have intensified its economic and political ties with Western Europe. It now faces the challenge of meeting the remaining requirements for EU membership and eventual participation in EMU. |
Finance & Development
September 1, 2000
Oleh Havrylyshyn & John Odling-Smee |
Political Economy of Stalled Reforms Powerful vested interests in some of the transition countries oppose further reform. But, even in this difficult climate, reform can and should continue. |
Finance & Development
March 1, 2002
Dimitri G. Demekas |
Southeastern Europe After the Kosovo Crisis In the wake of the Kosovo crisis, the countries of Southeastern Europe have made great strides. What form should their reform agenda take, and what lessons can the international community draw for helping other postconflict regions? |
Finance & Development
March 1, 2000
Claudio M. Loser & Martine Guerguil |
The Long Road to Financial Stability Most countries in Latin America and the Caribbean weathered the economic crises of the late 1990s better than expected, thanks to the policy reforms of the past two decades. Further reform is urgently needed, however, to put the region on a faster growth path and reduce its vulnerability to external shocks. |
Finance & Development
June 2009
Cihak & Mitra |
Losing Their Halo Many countries in central and eastern Europe are finding it hard to adjust to the new economic reality |
Finance & Development
September 1, 2000
Janos Kornai |
Making the Transition to Private Ownership When the former centrally planned economies began the transition to a market economy one decade ago, there was strong disagreement on the best way to carry out ownership reform. 10 years into transition, experience has proved that organic development was the best strategy. |
Finance & Development
September 1, 2000
Roger Nord |
Central and Eastern Europe and the New Financial Architecture As the Central and Eastern European countries prepare to join the European Union, they are participating in worldwide efforts to strengthen the global economy... |
Finance & Development
September 1, 2000
Torsten Slok |
Can Monetary Policy Be Effective During Transition? Mongolia has undergone dramatic changes during its transition to a market economy, with fundamental restructuring in both the real economy and the financial sector. How effective is monetary policy in such a changing environment? |
Finance & Development
June 2010
Bakker & Gulde |
Searching for Stability Eastern Europe rode a decade-long boom into a serious bust and now must figure out how to restart growth on a more even keel. |
Finance & Development
September 2009 |
Flows to Eastern Europe Foreign banks have supported eastern European banks, but the financial crisis has reversed this trend. |
Finance & Development
June 1, 2001
Gyorgy Szapary |
Transition Countries' Choice of Exchange Rate Regime in the Run-Up to EMU Membership An important decision for the Central and Eastern European countries seeking membership in the European Union is choosing the most appropriate exchange rate regime. Experience has shown that many considerations are involved in this decision... |
Finance & Development
September 1, 2000
Barry H. Potter & Jack Diamond |
Building Treasury Systems Most OECD countries rely on treasury systems operated by their finance ministries to manage government finances. The Baltics, Russia, and other countries of the former Soviet Union, which did not have comparable systems, are building them from scratch. |
Finance & Development
March 1, 2000
Leonardo Cardemil, Juan Carlos Di Tata, & Florencia Frantischek |
Central America: Adjustment and Reforms in the 1990s Following a weak performance in the 1980s, the Central American economies experienced a turnaround in the 1990s as they adopted improved policies within a more stable political environment. Now, how can they best maintain macroeconomic stability, continue structural reforms, and strengthen social policies to maximize rates of economic growth and reduce the incidence of poverty? |
Finance & Development
September 1, 2001
Christian Keller & Peter S. Heller |
Social Sector Reform in Transition Countries Transition countries need to reform their social sectors to promote the welfare of their citizens and spur economic growth. In part, this means building up and redesigning social safety nets and addressing problems. It also requires cutting some benefits and privileges... |
Finance & Development
June 1, 2002 |
Book Reviews The International Financial Architecture: What's New? What's Missing? by Peter B. Kenen... Corporate Financing and Governance in Japan: The Road to the Future by Takeo Hoshi and Anil K. Kashyap... Building Capitalism: The Transformation of the Former Soviet Bloc by Anders Aslund... etc. |
Finance & Development
March 1, 2001
Alvin D.L. Hilaire |
Economic Stabilization in the Caribbean Barbados, Guyana, Jamaica, and Trinidad and Tobago simultaneously tackled serious economic difficulties in the early 1990s. The results of their adjustment programs demonstrate that fiscal reform, supported by other policies, may be the key to achieving a sustainable recovery... |
Finance & Development
December 1, 2005
Carstens & Luis I. Jacome H. |
Taming the Monster How Latin America's central banks survived hyperinflation to become guardians of price stability. |
Finance & Development
March 1, 2006
Zagha, Nankani & Gill |
Rethinking Growth Economists are reconsidering what they really know about economic growth and how to go about formulating global national policies in the absence of reliable models. |
Finance & Development
March 1, 2003
Jbili & Kramarenko |
Should MENA Countries Float or Peg? As they open up their economies, MENA countries may need to rethink their exchange rate regimes |
Finance & Development
June 2009
Berglof et al. |
A Tale of Two Crises Russia is still a resource-dependent economy that must diversify in a market-friendly way |
Finance & Development
March 1, 2000
Jose Angel Gurria |
Mexico: Recent Developments, Structural Reforms, and Future Challenges In recent years, the Mexican government has implemented a series of economic reforms to strengthen the country's fundamentals and increase its ability to cope with external shocks. Because of the progress that has been made, the government is confident that Mexico will be able to leave recent crises behind and start the new millennium with a stable and growing economy. |
On Wall Street
June 1, 2009
Yarek Aranowicz |
All Disquieting on the Eastern Front The contagion in Central and Eastern Europe has been called the worst economic crisis since the collapse of communism. |
Finance & Development
June 2009
Marek Belka |
Europe Under Stress The global economic crisis is testing the cohesion of the European Union |
Finance & Development
December 1, 2005
Singh & Collyns |
Latin America's Resurgence Latin America's recent resurgence amid continuing favorable external conditions provides another historic opportunity for the region to catalyze its considerable natural and human capital resources into sustained and higher growth. |
Finance & Development
December 1, 2006
Bio-Tchane & Christensen |
Right Time for Africa Africa needs to build on its recent success to catch up. A forward-looking reform agenda should aim to maintain macroeconomic stability, improve the business climate, promote trade, and, most important, strengthen fiscal institutions. |
Finance & Development
September 1, 2001 |
Letters to the Editor Although Kazakhstan has much in common with other countries in Central Asia, its economy and reform path differ from theirs considerably... The differences between countries were highlighted in the article, and Kazakhstan was acknowledged to be the fastest reformer of the group... |
Finance & Development
March 1, 2001
Martin Muhleisen & Hamid Faruqee |
Japan: Population Aging and the Fiscal Challenge With Japan facing a demographic crisis, government finances--stretched to the limit to keep the economy afloat--have to cope with the rising strain on public pension and health systems. This article looks at the economic and fiscal costs of aging in Japan... |
Finance & Development
June 1, 2001
Harry G. Broadman |
Competition and Business Entry in Russia Reforming anticompetitive business structures and lowering barriers to entry are key to Russia's post-privatization reform program... |
Finance & Development
September 1, 2001
Joel Hellman & Daniel Kaufmann |
Confronting the Challenge of State Capture in Transition Economies In transition economies, corruption has taken on a new image -- that of so-called oligarchs manipulating policy formation and even shaping the emerging rules of the game to their own, very substantial advantage. We refer to this behavior as state capture... |
Finance & Development
December 1, 2001 |
Bulletin Kohler Calls For Coordinated International Response in Wake of September 11 Attacks... IMF Releases Reduced World Economic Outlook Projections... External Financing for IMF Technical Assistance... |
Finance & Development
December 1, 2001
Evangelos A. Calamitsis |
The Need for Stronger Domestic Policies and International Support Globalization is a powerful engine of world prosperity, and it is certainly here to stay. Income disparities remain large. The basic issue is what policies and reforms are most likely to bring about sustainable economic growth for the benefit of all the peoples of the world. |
Finance & Development
September 1, 2000
Enzo Croce & Mohsin S. Khan |
Monetary Regimes and Inflation Targeting Inflation targeting---a framework for monetary policy that commits the central bank to achieving low inflation---has enjoyed considerable success among industrial countries in helping to maintain price stability... |
Finance & Development
March 1, 2000
Pedro Pou |
Argentina's Structural Reforms of the 1990s Argentina experienced serious economic and financial difficulties in the 1980s. Hyperinflation in 1989-90 finally elicited the necessary political consensus for reform. Despite areas of concern, structural reforms implemented in the 1990s have set Argentina on the path to sustained growth. |
Finance & Development
September 1, 2002
Mathieu & Shiells |
The Commonwealth of Independent States' Troubled Energy Sectors The energy sector plays a large economic role in several of the countries of the former Soviet Union, given their vast reserves of oil and natural gas. But the sector is riddled with distortions and inefficiencies that hinder trade and keep the region from realizing its economic potential. |
Finance & Development
September 1, 2000
Einars Repse |
Latvia: Focus on Country Development Latvia has made considerable progress over the past decade in transforming its centrally planned economy into a market-oriented one. What role has its central bank played in this transition, and what steps is it taking to promote the country's continuing economic development? |
Finance & Development
September 1, 2000 |
Book reviews Without a Map: Political Tactics and Economic Reform in Russia by Andrei Shleifer and Daniel Treisman evaluates the reforms of the 1990s... Money and Markets: A Wall Street Memoir by Henry Kaufman both inspirational and educational... |
Finance & Development
September 2008
Prasad & Rajan |
Next Generation Financial Reforms for India A new report advocates a shake-up in India's financial system to underpin growth |
Finance & Development
March 1, 2007
Yaga Venugopal Reddy |
Point of View: Converting a Tiger The Reserve Bank of India's governor offers lessons from the country's gradualist approach to capital account convertibility. |
Finance & Development
March 1, 2000
Eduardo Aninat |
Chile in the 1990s: Embracing Development Opportunities A review of Chile's recent economic performance shows that, overall, the 1990s were a period of vigorous and unprecedented expansion, with average annual GDP growth of 6.5 percent. While 1999 was a time of economic adjustment after the fallout of the Asian crisis, Chile is now ready to resume healthy growth in 2000 and beyond.. |
Finance & Development
December 2010 |
Emerging Markets Come of Age These vibrant middle-income countries survived the global recession, but face bumps as they seek to solidify their place in the world economy. |
Finance & Development
March 2008
John Odling-Smee |
Book Reviews Global Imbalances and the Lessons of Bretton Woods, is the new book by Barry Eichengreen, a leader in the field of international monetary history. The theme of this compact and engrossing book is that history suggests that the current situation is unlikely to last for long. |
Finance & Development
September 1, 2000
Leszek Balcerowicz |
Poland's Transformation Poland has made considerable progress over the past decade in transforming its centrally planned economy into a market-oriented one, but challenges remain. How can it best complete this transformation and facilitate its integration into the European Union? |
Finance & Development
March 1, 2002 |
Book Reviews The End of Globalization: Lessons from the Great Depression by Harold James... Paradoxes of Prosperity: Why the New Capitalism Benefits All by Diane Coyle... Out of the Red: Building Capitalism and Democracy in Postcommunist Europe by Mitchell A. Orenstein... etc. |
Finance & Development
March 1, 2003
George T. Abed |
Unfulfilled Promise Why the Middle East and North Africa region has lagged in growth and globalization |
