The Economic Reform Process in Russia

Although various factors point to a more arduous and longer transition in Russia than in Eastern Europe, the broad policy approach should be similar. A necessary condition for effective macroeconomic stabilization is the imposition of hard budget constraints on enterprises. Financial assistance from... Ausführliche Beschreibung

1. Person: Odling-Smee, John C.
Weitere Personen: Lorie, Henri
Format: E-Buch
Sprache: English
Veröffentlicht: Washington, D.C. International Monetary Fund 1993, 1993
Beschreibung: 10 p.
Serien: IMF Working Papers; Working Paper
Schlagworte: Balance of Payments
Privatization
Enterprise Sector
Price Liberalization
Enterprise Reform
Online Zugang: Volltext
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520 |a Although various factors point to a more arduous and longer transition in Russia than in Eastern Europe, the broad policy approach should be similar. A necessary condition for effective macroeconomic stabilization is the imposition of hard budget constraints on enterprises. Financial assistance from the Government and the central bank to enterprises must be strictly controlled to ensure compatibility with both inflation objectives and the creation of incentives for reform. While Russia needs external financial assistance, it must be willing and able to pursue economic policies that ensure that the assistance has the desired effects, especially macroeconomic stability and systemic reform 

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