Fiscal Adjustments In Transition Economies

Fiscal Adjustment in Transition Countries

In the 1990s, transition countries underwent large adjustments to address fiscal imbalances. This paper examines whether the factors identified in the literature on advanced economies, the size and composition of adjustment, are important in transition economies. It finds that larger consolidations were more successful in addressing fiscal imbalances on a durable basis. Policies focusing on expenditure reductions were more successful than those relying on revenue increases. There is little evidence of expansionary fiscal contractions, but fiscal contractions did not have a significantly negative impact on growth either. Few fiscal stimuli succeeded in boosting growth.

Fiscal Adjustments in Transition Economies

Economies in Transition

This volume provides an in-depth review of major economic developments in those economies which are in some stage of transition, following the collapse of communism in the Eastern block. The book is divided into four parts: * theoretical issues in the transition from command to market economies * the events in the fifteeen independent countries of the former Soviet Union * Eastern Europe * non-European states In all, the author chronicles events from 1993 to 1995 in thirty-five countries. Economic developments are set in their political context and presented chronologically as far as possible. A Guide to the Economies in Transition carries on where Ian Jeffries' previous book left off. The work is entirely new and, as such, can be seen as a companion to the earlier title. These books are becoming known as invaluable guides, providing unique levels of reference in work of this type.