On the Sequencing of Reforms in Eastern Europe

Author/Editor:

Hans Genberg

Publication Date:

February 1, 1991

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 discusses issues related to the sequencing of the reforms that are necessary to transform the economies in Eastern Europe into market economies. It is first argued that the transition path of these economies will be smoother and less costly if a clear statement of the ultimate goals of the reforms is made at the outset. Interdependence between different aspects of the reforms implies that an appropriate strategy is to move on a broad front from the very beginning of the transformation process dealing simultaneously with macroeconomic stabilization, price reforms and convertibility, and privatization of state enterprises. It is also argued that a rapid reform process is preferable to a gradual one.

Series:

Working Paper No. 91/13

English

Publication Date:

February 1, 1991

ISBN/ISSN:

9781451924718/1018-5941

Stock No:

WPIEA0131991

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

42

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