Finance & Development articles from June 1999

Finance & Development archives from June 1999

A decade of transition: an overview of the achievements and challenges.(Transition: Achievements and Challenges)(transition economies of Central and Eastern Europe)
June 1, 1999... To take stock of the accomplishments of the transition economies over the past 10 years and identify the challenges ahead, in February 1999 the IMF organized a conference for high-level officials from transition countries, academics, and staff...

Taming inflation in the transition economies.(Transition: Achievements and Challenges)(former centrally planned economies in Central and Eastern Europe, the Balkans and the former Soviet Union)
June 1, 1999... Between 1992 and 1997, most of the transition countries succeeded in getting inflation under control without evident cost in terms of lost output. An understanding of the factors behind their success could not only shed light on the transition...

Determinants of growth in transition countries.(Transition: Achievements and Challenges)(former centrally planned economies in Central and Eastern Europe, the Balkans and the former Soviet Union)
June 1, 1999... Perhaps the most useful criterion for assessing success in the transition is the sustainable recovery of output, which can be achieved only by controlling inflation and liberalizing markets. Transition is a dynamic historical process,...

Time to rethink privatization in transition economies?(Transition: Achievements and Challenges)
June 1, 1999... Privatization has won the day in transition countries . . . or has it? Where have privatization efforts - particularly those in Central and Eastern Europe and the former Soviet Union - succeeded, where have they failed, and how can these...

Transition and the changing role of government.(Transition: Achievements and Challenges)
June 1, 1999... Over the past decade, many centrally planned economies have set out to transform themselves into market economies. To be successful, they need to develop the necessary institutions and ensure a proper role for government. While much bas...

Escape routes from post-Soviet inflation and recession.(Transition: Achievements and Challenges)
June 1, 1999... The 12 CIS countries inherited from the Soviet system strong inflationary pressures and distorted prices. By 1998, most had greatly moderated inflation. In the wake of the Russian crisis, how can they now secure economic growth without...

The Asian crisis causes and remedies.(Financial Markets)
June 1, 1999... Until their sudden fall from grace in 1997, the countries hit hard by Asia's financial crisis - Indonesia, Korea, Malaysia, and Thailand - had been widely admired for their economic achievements and much favored by foreign investors. What...

Developing and transition countries confront financial globalization.(Financial Markets)
June 1, 1999... In recent years, many developing and transition countries have become more closely integrated into the global financial system. But to benefit fully from their growing access to international financing, they need to strengthen their financial...

Developing indicators to provide early warnings of banking crises.(Financial Markets)
June 1, 1999... Bank failures and banking system crises can have very painful effects. Developing basic indicators that provide early warnings of incipient banking crises, therefore, is an essential step in improving countries' abilities to manage their...

The challenge of predicting economic crises.(Financial Markets)
June 1, 1999... As financial systems around the globe become increasingly integrated, policymakers have less time to respond to swiftly moving developments. Is it possible to develop early warning signals to help them anticipate incipient problems in currency...

The euro and Latin America.
June 1, 1999... The introduction of the euro will affect foreign exchange and financial markets and economic activities around the world. What risks and opportunities does the euro represent for Latin America and the Caribbean? On January 1, 1999, a new...

How extensive is the brain drain?
June 1, 1999... How extensive is the "brain drain,' and which countries and regions are most strongly affected by it? This article estimates the extent of migration, by level of education, from developing countries to the United States and other OECD...

Lessons of the Russian crisis for transition economies.(Transition: Achievements and Challenges)
June 1, 1999... Soft budget constraints and weak administrative controls brought Russia to the brink of hyperinflation. The lesson is to disinflate rapidly and to impose hard budget constraints quickly. What lessons does the Russian financial crisis hold...