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Stabilization Programs in Eastern Europe
Two apparently similar programs launched at roughly the same time by Yugoslavia and Poland yielded significantly different initial results (output fell much more while inflation declined more slowly in Poland than in Yugoslavia).
Taxation of Financial Intermediation
This book examines the options for, and obstacles to, successful financial sector tax reform, both in terms of theoretical and practical aspects. Issues discussed include: the design of optimal tax schemes, the role of imperfect information and the links between taxation and saving, inflation, the income tax treatment of intermediary loan-loss reserves, deposit insurance, VAT and financial transactions taxes; as well as current practice in the industrial world and case studies of distorted national systems. This is a co-publication of the World Bank and Oxford University Press.
The Evolving Legal Framework for Private Sector Activity in Slovenia
In moving toward a market economy, Slovenia is working hard to create a legal framework that can foster the growth of the private sector.
IMF Staff Papers, Volume 52, No. 2
This paper examines contractionary currency crashes in developing countries. It explores the causes of India’s productivity surge around 1980, more than a decade before serious economic reforms were initiated. The paper finds evidence that the trigger may have been an attitudinal shift by the government in the early 1980s that, unlike the reforms of the 1990s, was pro-business rather than pro-market in character, favoring the interests of existing businesses rather than new entrants or consumers. A relatively small shift elicited a large productivity response, because India was far away from its income possibility frontier.
Exchange Rates and Inflation
Collected for the first time in Exchange Rates and Inflation, twenty-two articles are gathered in four parts covering exchange rate theory, special topics in exchange rate economics, equilibrium real exchange rates, and inflation and stabilization.
Managing the Transition
The consensus of dozens of Bank and outside experts on issues and measures essential to government reform in six Eastern European economies changing to a market economy - and on how external agencies can best aid the reform process.
Rebuilding Capitalism
The book considers the historical origins of the current wave of market-oriented reform, reviews existing controversies on the design of economic reforms, and offers alternative criteria to evaluate policy performance. In particular it focuses on issues of macroeconomic adjustment and stabilization, liberalization policies, reform of the state, and interactions between economic and political transformation during the course of systemic transformation.
