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Budgetary Subsidies in Centrally Planned Economies in Transition

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  • Robert Holzmann

Abstract

This paper analyzes budgetary subsidy policy issues that arise when centrally planned economies move toward a market economy. The analysis suggests that subsidy reduction, to be successful, has to be embedded into an overall economic reform program and that during the program’s execution, former implicit subsidies are likely to become budgetized. Furthermore, additional pressure on the budget, caused by enterprise restructuring or the introduction of social safety net provisions, necessitates careful policy design. Comprehensive budgetary reform is required to prevent budgetary slippages during the transition process.

Suggested Citation

  • Robert Holzmann, 1991. "Budgetary Subsidies in Centrally Planned Economies in Transition," IMF Working Papers 91/11, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:91/11
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    Cited by:

    1. Andres Velasco, 1997. "A Model of Endogenous Fiscal Deficits and Delayed Fiscal Reforms," NBER Working Papers 6336, National Bureau of Economic Research, Inc.
    2. Velasco, Andres, 2000. "Debts and deficits with fragmented fiscal policymaking," Journal of Public Economics, Elsevier, vol. 76(1), pages 105-125, April.
    3. R. Sean Craig & Catherine L. Mann, 1992. "Fiscal implications of the transition from planned to market economy," International Finance Discussion Papers 424, Board of Governors of the Federal Reserve System (U.S.).
    4. Andres Velasco, 1997. "Debts and Deficits with Fragmented Fiscal Policymaking," NBER Working Papers 6286, National Bureau of Economic Research, Inc.

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