The Israeli Economy, 1985-1998: From Government Intervention to Market Economics
- Avi Ben-Bassat() (Hebrew University of Jerusalem)
From 1973 to 1985, the Israeli economy suffered a deep crisis: the growth rate declined, foreign debt increased, and inflation soared to annual rates of a few hundred percent. This book analyzes the structural reforms initiated between 1985 and 1998 that transformed the Israeli economy from one of heavy government intervention to a market-oriented, open economy. The reforms introduced fiscal discipline, increased central bank independence, and reduced government intervention in capital, labor, and financial markets. Also, competition was fostered in monopoly-controlled markets. The results of these reforms include, among others: a decline from 77 percent to 55 percent in the government expenditure portion of the gross domestic product, a decline from 65 percent of credit volume to 5 percent in government involvement in directing credit, and almost complete elimination of the tight control of the foreign-exchange market. These reforms, together with the mass migration into Israel from the former Soviet Union and the peace process with Israel's neighbors, accelerated economic growth, particularly in the business sector. Topics discussed include the impact of macroeconomic policy and structural reforms on growth, employment, inflation, balance of payments, and the rapid expansion of high-tech industry. The book also examines the consequent increase in income inequality and related problems.
To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
- Paserman, M. Daniele, 2008.
"Do High-Skill Immigrants Raise Productivity? Evidence from Israeli Manufacturing Firms, 1990-1999,"
IZA Discussion Papers
3572, Institute for the Study of Labor (IZA).
- M Paserman, 2013. "Do high-skill immigrants raise productivity? Evidence from Israeli manufacturing firms, 1990-1999," IZA Journal of Migration, Springer, vol. 2(1), pages 1-31, December.
- M. Daniele Paserman, 2011. "Do High-Skill Immigrants Raise Productivity? Evidence From Israeli Manufacturing Firms, 1990-1999," Boston University - Department of Economics - Working Papers Series WP2011-045, Boston University - Department of Economics.
- Paserman, M. Daniele, 2008. "Do High-Skill Immigrants Raise Productivity? Evidence from Israeli manufacturing Firms, 1990-1999," CEPR Discussion Papers 6896, C.E.P.R. Discussion Papers.
- Francisco J. Buera & Yongseok Shin, 2009. "Productivity Growth and Capital Flows: The Dynamics of Reforms," NBER Working Papers 15268, National Bureau of Economic Research, Inc.
- Zvi Eckstein & Tamar Ramot-Nyska, 2008. "Twenty years of financial liberalisation in Israel: 1987–2007," BIS Papers chapters, in: Bank for International Settlements (ed.), Financial globalisation and emerging market capital flows, volume 44, pages 289-304 Bank for International Settlements.
When requesting a correction, please mention this item's handle: RePEc:mtp:titles:0262025183. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jake Furbush)
If references are entirely missing, you can add them using this form.
Follow series, journals, authors & more
New papers by email
Subscribe to new additions to RePEc
Public profiles for Economics researchers
Various rankings of research in Economics & related fields
Who was a student of whom, using RePEc
Curated articles & papers various economics topics
Blog aggregator for economics research
Cases of plagiarism in Economics
Job Market Papers
RePEc working paper series dedicated to the job market
Pretend you are at the helm of an economics department
Services from the StL Fed
Data, research, apps & more from the St. Louis Fed