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Sequencing the Transition

Author

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  • Newbery, David M G

Abstract

The inefficiency of Soviet-type economies results from their monopolized production structure, which makes soft budget constraints almost inevitable, as enterprises have bargaining power and must face expropriative tax rates for macroeconomic stability. Systemic reform aims to improve incentives, and if this is to be achieved with macro-stability, enterprises must be demonopolized. Most sequencing issues resolve into three key concerns: ensuring or restoring macroeconomic stability; not ruling out options for subsequent reforms, specifically those intended to increase competition; and maintaining support for completing the reform process.

Suggested Citation

  • Newbery, David M G, 1991. "Sequencing the Transition," CEPR Discussion Papers 575, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:575
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    Cited by:

    1. Randolph Luca Bruno, 2003. "Speed of Transition, Unemployment Dynamics and Nonemployment Policies: Evidence from the Visegrad Countries," LEM Papers Series 2003/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.

    More about this item

    Keywords

    Competition Policy; Eastern Europe; Sequencing; Tax Reform;

    JEL classification:

    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • P23 - Economic Systems - - Socialist Systems and Transition Economies - - - Factor and Product Markets; Industry Studies; Population
    • P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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