The Changing Mix of Disequilibria During Transition: A Romanian Background
IMF Working Papers, June 1, 1994
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- The Changing Mix of Disequilibria During Transition: A Romanian Background
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Bibliographic details
- Authors: Daniel Daianu
- Published: June 1, 1994
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451849394.001
Summary / Scope
- This paper looks at the dynamics of (dis)equilibria during post-command transition.
- It tries to define an optimal mix between external and internal disequilibrium and to apply this concept to the analysis of the Romanian economy.
- The forced adjustment of the balance of payments in the 1980s is presented as a prologue to the scrutiny of transformation policy underway.
- Results and dilemmas of macro-stabilization are dealt with in this respect.
- The paper ends by providing some insights into the problematique of understanding (dis)equilibria in transforming economies.
Major Themes and Analysis
- Dynamics of (dis)equilibria during post-command transition.
- Conceptual definition of an optimal mix between external and internal disequilibrium.
- Application of the optimal-mix concept to Romania’s economic transformation.
- Historical context: the forced adjustment of the balance of payments in the 1980s as background to transition policy analysis.
- Examination of results and dilemmas of macro-stabilization measures during the transition.
- Insights into the broader problematique of understanding (dis)equilibria in transforming economies.
Subjects and Keywords
- Subjects: Consumption, Exchange rates, Exports, External debt, Foreign exchange, Imports, International trade, National accounts
- Keywords: Central and Eastern Europe, Consumption, Eastern Europe, economic system, economy, enterprise, exchange rate, Exchange rates, Exports, full employment, Global, government, hard currency, Imports, market economy, WP