IMF Policy Discussion Papers
1993
March 1, 1993
The Strategy of Reform in the Previously Centrally-Planned Economies of Eastern Europe: Lessons and Challenges
Description: This paper analyzes some of the lessons that can be drawn from the experience of Eastern Europe in the process of transition to a market economy that is under way, and examines some key challenges currently facing policymakers in these economies. The paper studies the constraints affecting the general strategy of reform--rapid versus gradual--that was adopted, and the output decline initially experienced and its effect on medium-term growth perspectives. The paper also discusses the implementation of mass privatization schemes, and the type and extent of government intervention in the restructuring process. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text. Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the authors) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.
March 1, 1993
A Cautionary Note on the Use of Exchange Rate Indicators
Description: The paper reviews the basis for the use of various popular exchange rate indicators by tracing their conceptual development, the links between these indicators, and how they are measured in actual practice. It also considers the difficulties often encountered in attempting to obtain empirical counterparts to the various concepts and the limitations on the use of indicators likely to arise therefrom. The paper illustrates the behavior of various exchange rate indicators using data for Colombia and Kenya. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text. Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.
February 1, 1993
Real Exchange Rate Targeting in Developing Countries
Description: Real Exchange Rate Targeting in Developing Countries
February 1, 1993
Armenia - Reform and Growth in Agriculture
Description: Armenia - Reform and Growth in Agriculture
January 1, 1993
The Operation of the Estonian Currency Board
Description: The Operation of the Estonian Currency Board
Notes: Also published in Staff Papers, Vol. 40, No. 2, June 1993.
January 1, 1993
Inflation Stabilization and Nominal Anchors
Description: Inflation Stabilization and Nominal Anchors
Notes: Analyzes the choice of a nominal anchor in disinflation programs in chronic inflation countries.
January 1, 1993
Foreign Exchange Markets in Russia - Understanding the Reforms
Description: Foreign Exchange Markets in Russia - Understanding the Reforms
Notes: Also published in Staff Papers, Vol. 40, No. 4, December 1993.
1992
August 1, 1992
Japanese Corporate Groups and Imports
Description: Japanese Corporate Groups and Imports
July 1, 1992
Inter-Enterprise Arrears in Transforming Economies: The Case of Romania
Description: Inter-Enterprise Arrears in Transforming Economies: The Case of Romania
Notes: Also published in Staff Papers, Vol. 40, No. 3, September 1993.