Inflation and Growth in Transition: Are the Asian Economies Different?

Author/Editor:

Torsten M Sloek ; Sanja Kalra

Publication Date:

August 1, 1999

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper examines the progress made in four Asian transition economies—China, Lao P.D.R., Vietnam, and Mongolia—to market-based systems. Overall, these economies appear to have had a more favorable experience with inflation stabilization and output growth than that of transition economies elsewhere. While initial conditions played an important role in determining the strategy and speed of the transition, growth performance benefited from continued macroeconomic stability and reforms in a key sector (such as agriculture); this confirms the need for sustained and rapid structural reforms and highlights the constraints for sustainable growth posed by weak financial and enterprise sectors.

Series:

Working Paper No. 1999/118

Subject:

Agricultural sector Disinflation Economic sectors Inflation Macrostructural analysis Prices Public enterprises Structural reforms

English

Publication Date:

August 1, 1999

ISBN/ISSN:

9781451854060/1018-5941

Stock No:

WPIEA1181999

Pages:

24

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