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On the Sequencing of Reforms in Eastern Europe

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Author Info

  • Hans Genberg

Abstract

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.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 91/13.

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Length: 42
Date of creation: 01 Feb 1991
Date of revision:
Handle: RePEc:imf:imfwpa:91/13

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Cited by:
  1. Funke, Norbert, 1993. "Timing and sequencing of reforms: Competing views," Kiel Working Papers 552, Kiel Institute for the World Economy.
  2. Hiemenz, Ulrich & Funke, Norbert, 1993. "The experience of developing countries with macroeconomic stabilisation and structural adjustment," Kiel Working Papers 606, Kiel Institute for the World Economy.

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