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

August 1, 1999

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Format: Chicago

Torsten M Sloek, and Sanja Kalra. Inflation and Growth in Transition: Are the Asian Economies Different?, (USA: International Monetary Fund, 1999) accessed March 17, 2025

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.

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

Keywords: Agricultural sector, Asia, BRO country, BRO economy, Central and Eastern Europe, Disinflation, Economic system, Economy, Growth, Inflation, Inflation performance, Inflation stabilization effort, Public enterprises, Structural reforms, Transition economies, Transition economy, WP

Publication Details

Pages:

24
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1999/118
Stock No:

WPIEA1181999
ISBN:

9781451854060
ISSN:

1018-5941

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