Obstacles to Transforming Centrally-Planned Economies : The Role of Capital Markets

The Role of Capital Markets

Obstacles to Transforming Centrally-Planned Economies : The Role of Capital Markets
This paper identifies obstacles hindering the transformation of centrally-planned economies (CPEs) into well-functioning market economies. The obstacles identified relate to (i) anticipatory dynamics, (ii) monetary overhang and the budget, and (iii) underdeveloped credit markets. It is demonstrated that these obstacles inhibit the effectiveness... READ MORE...

Publication date: July 1991
ISBN 9781451848724
$15.00

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