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Author Fischer, Stanley.

Title Stabilization and Growth in Transition Economies [electronic resource] : The Early Experience / Stanley Fischer.

Published Washington, D.C. : International Monetary Fund, 1996.


Location Call No. Status
Physical description 1 online resource (32 p.)
Series IMF Working Papers; Working Paper ; No. 96/31
IMF Working Papers; Working Paper ; No. 96/31
Summary This paper analyzes the growth and stabilization experience in 26 transition economies in eastern Europe, the former Soviet Union, and Mongolia for the period 1989-1994. Inflation rates have declined significantly in most countries following an inflation stabilization program. Growth resumes after stabilization occurs, typically with a lag of about two years. Reducing inflation thus appears to be a precondition for growth. An econometric analysis of the short-run determinants of inflation and growth illustrates the key roles of fixed exchange rates, improved fiscal balances, and structural reforms in spurring growth and lowering inflation, and confirms that inflation stabilization programs have been beneficial for growth even after controlling for structural reforms.
Notes Description based on print version record.
Other author Fischer, Stanley.
Sahay, Ratna.
VĂ©gh Gramont, Carlos A.
Subject High Inflation
Inflation Rates
Inflation Stabilization
Monetary Fund
ISBN 1451980043 : 15.00 USD
ISSN 1018-5941
Standard Number 10.5089/9781451980042.001