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Fiscal Transition in Countries of the Former Soviet Union

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  • Jeffrey M. Davis
  • A. Cheasty
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    Abstract

    This paper reviews the uneven record of fiscal performance in the states of the former Soviet Union since independence. Deficits have come down rapidly, an important contribution to stabilization. Given, however, the unexpectedly severe revenue decline and limited financing, the stabilization was reached by sharp cuts in expenditure. The cuts were abrupt and not focused on transition goals, and the instruments used vitiated normal budgetary processes. Hence, benchmarks of fiscal success other than stabilization are elusive. Government intervention and subsidies remain important, social spending is inefficient, and there is little evidence in the budget of restructuring.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 96/61.

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    Length: 36
    Date of creation: 01 Jun 1996
    Date of revision:
    Handle: RePEc:imf:imfwpa:96/61

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    Cited by:
    1. Klugman, Jeni & Micklewright, John & Redmond, Gerry, 2002. "Poverty in the Transition: Social Expenditures and the Working-Age Poor," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3389, C.E.P.R. Discussion Papers.
    2. Gimpelson, Vladimir & Treisman, Daniel & Monusova, Galina, 2000. "Public Employment and Redistributive Politics: Evidence from Russia’s Regions," IZA Discussion Papers 161, Institute for the Study of Labor (IZA).
    3. J. C. Odling-Smee, 2004. "The IMF and Russia in the 1990's," IMF Working Papers 04/155, International Monetary Fund.
    4. Catriona Purfield, 2003. "Fiscal Adjustment in Transition Countries," IMF Working Papers 03/36, International Monetary Fund.
    5. Wolf, Marvin, 2013. "Währungsunionen und Allmendeproblem," Hannover Economic Papers (HEP), Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät dp-521, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    6. Gerando Bracho C. & Julio Lopez G., 2005. "The economic collapse of Russia," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, Banca Nazionale del Lavoro, vol. 58(232), pages 53-89.
    7. Fischer, Stanley & Sahay, Ratna & Vegh, Carlos, 1998. "How far is Eastern Europe from Brussels?," MPRA Paper 20059, University Library of Munich, Germany.
    8. World Bank, 2003. "Public Expenditure Review for Armenia," World Bank Publications, The World Bank, number 15086, August.
    9. Gerando Bracho C. & Julio Lopez G., 2005. "The economic collapse of Russia," BNL Quarterly Review, Banca Nazionale del Lavoro, Banca Nazionale del Lavoro, vol. 58(232), pages 53-89.

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