Finance & Development articles from September 2000

Finance & Development archives from September 2000

From the editor.
September 1, 2000... IT IS more than a decade since the dramatic process of transforming the former socialist societies into market economies began. The outcome so far has been mixed. Some of these countries, mainly those in Central and Eastern Europe and the...

Taking Stock.
September 1, 2000... Economic performance has differed widely among the transition economies. The best performers are countries that were the most committed to reform at the start and that have carried out reforms rapidly and consistently. WHEN REFORM began 10...

Political Economy of Stalled Reforms.
September 1, 2000... Powerful vested interests in some of the transition countries oppose further reform. But, even in this difficult climate, reform can and should continue. FOR THE 25 non-Asian countries in transition, more than ten years have passed since...

Making the Transition to Private Ownership.
September 1, 2000... WHEN the former centrally planned economies began the transition to a market economy one decade ago, I advocated the creation of an economic system based on private ownership, as did many economists. But there was strong disagreement on the...

Poland's Transformation.
September 1, 2000... Poland has made considerable progress over the past decade in transforming its centrally planned economy into a market-oriented one, but challenges remain. How can it best complete this transformation and facilitate its integration into the...

Latvia Focus on Country Development.
September 1, 2000... Latvia has made considerable progress over the past decade in transforming its centrally planned economy into a market-oriented one. What role has its central bank played in this transition, and what steps is it taking to promote the country's...

The Modernization Challenge Facing President Putin.(Vladimir Putin)
September 1, 2000... Having established and strengthened basic market and democratic institutions during the 1990s, Russia became an emerging market country that badly needs a modernization breakthrough. How can the government of President Vladimir Putin attain...

Central Europe From Transition to EU Membership.
September 1, 2000... The Central European countries have made considerable progress with the transition to a market economy and now face the challenge of developing macroeconomic policy frameworks on the road to EU accession. THE COUNTRIES of Central...

Estonia Moves Toward EU Accession.
September 1, 2000... Estonia's rapid transition to a market economy and integration into the world economy have intensified its economic and political ties with Western Europe. It now faces the challenge of meeting the remaining requirements for EU membership and...

Czech Republic: Recent Developments and Current Outlook.
September 1, 2000... The Czech Republic has made enormous strides in establishing a market economy and, despite having one of the largest state sectors at the beginning of its transformation, is now among the most advanced transition countries. The private sector's...

Central and Eastern Europe and the New Financial Architecture.
September 1, 2000... As the Central and Eastern European countries prepare to join the European Union, they are participating in worldwide efforts to strengthen the global economy by increasing the transparency of their economic policymaking and financial...

Building Treasury Systems.
September 1, 2000... Most OECD countries rely on treasury systems operated by their finance ministries to manage government finances. The Baltics, Russia, and other countries of the former Soviet Union, which did not have comparable systems, are building them from...

Central Asia Achievements and Prospects.
September 1, 2000... Although the five Central Asian countries in transition have made progress in moving to a market economy, they still have far to go and need to intensify their reform efforts. AT THE BEGINNING of the 1990s, following a long period of...

Can Monetary Policy Be Effective During Transition? Lessons from Mongolia.
September 1, 2000... Mongolia has undergone dramatic changes during its transition to a market economy, with fundamental restructuring in both the real economy and the financial sector. How effective is monetary policy in such a changing environment? A KEY...

Monetary Regimes and Inflation Targeting.
September 1, 2000... Inflation targeting--a framework for monetary policy that commits the central bank to achieving low inflation--has enjoyed considerable success among industrial countries in helping to maintain price stability. Developing countries may also...

New Tools for Assessing Financial System Soundness.
September 1, 2000... Macroprudential indicators--defined broadly as indicators of the health and stability of the financial system--can help countries assess their banking systems' vulnerability to crisis. In recent years, an increasing amount of work has been done...

Funding the IMF The Debate in the U.S. Congress.
September 1, 2000... It has been said that the U.S. Congress works in mysterious ways. During the 1997-98 debate on increasing funding for the IMF, some supporters of the IMF viewed the increasingly intense debate with foreboding. Even some knowledgeable insiders...

Without a Map.(Review)
September 1, 2000... Andrei Shleifer and Daniel Treisman Political Tactics and Economic Reform in Russia MIT Press, Cambridge, Massachusetts, 2000, ix + 223 pp., $25.95 (cloth). ANDREI SHLEIFER and Daniel Treisman set out to evaluate the reforms of...

On Money and Markets.(Review)
September 1, 2000... Henry Kaufman A Wall Street Memoir McGraw-Hill, New York, 2000, xi + 388 pp., $24.95 (cloth) HENRY KAUFMAN has built a career on predicting the future of interest rates, inflation, and the financial markets. Known in economic...