Mobilization of Savings in Eastern European Countries: The Role of the State
January 1, 1991
More Formats on IMF eLibrary
Order a Print CopyDisclaimer: 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
As the countries of Eastern and Central Europe transform their economies from centrally–planned to market–oriented, the question of the role that the governments should play in mobilizing savings to ensure a high growth rate must be addressed. This paper argues that the issue of a good allocation of savings must precede that of mobilization. Much evidence suggests that major distortions have, in the past, dramatically reduced the productivity of investment. The paper discusses some of the institutional changes that will be necessary to ensure a better allocation of savings.
Subject: Expenditure, Fiscal policy, Income, National accounts, Personal income, Revenue administration, Revenue mobilization
Keywords: centrally-planned economies, discretionary income, Eastern Europe, financial system, fiscal policy, government expenditure, household sector, Income, Personal income, price liberalization, rate of return, Revenue mobilization, West European country, Western Europe, WP
Pages:
26
Volume:
1991
DOI:
Issue:
004
Series:
Working Paper No. 1991/004
Stock No:
WPIEA0041991
ISBN:
9781451841947
ISSN:
1018-5941
