Financial Markets and Public Finance in the Transformation Process

Author/Editor:

Vito Tanzi

Publication Date:

April 1, 1992

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:

The paper surveys the role of financial markets and fiscal institutions in the transformation process going on in Eastern and Central Europe. It highlights (a) the need to create some sort of “social ecological balance” necessary for the working of a modern market economy; (b) the need to develop appropriate financial institutions that can mobilize savings and allocate them efficiently; and (c) the major reforms necessary in the fiscal area. It also calls attention to the extent to which monetary and fiscal policies overlap in these countries and the implications of that overlapping.

Series:

Working Paper No. 1992/029

Subject:

Banking Commercial banks Economic sectors Expenditure Financial institutions Fiscal policy Government debt management Public financial management (PFM) Public sector

English

Publication Date:

April 1, 1992

ISBN/ISSN:

9781451844719/1018-5941

Stock No:

WPIEA0291992

Pages:

34

Please address any questions about this title to publications@imf.org