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Transition - The first ten years : analysis and lessons for Eastern Europe and the former Soviet Union (Inglês)

This study looks at lessons to be drawn from the ten-year experience of the transition countries in Eastern Europe and the former Soviet Union in the period 1991 to 2000. The World's Bank "world Development Report 1996: From Plan to Market" focused on the transition process during the first half of this period. It recognized that while initial conditions are critical, decisive and sustained reforms are important for recovery of growth and should be accompanied by social policies designed to protect the most vulnerable groups until growth takes hold. Many of the prescriptions of the 1996 World Development Report continue to be valid today. The present study confirms that while initial conditions were critical for explaining the output decline at the start of transition, the intensity of reform policies explains the variability in the recovery of output thereafter. Beyond this, important new lessons highlight some key tradeoffs facing countries in transition that can be translated into priorities for policy. First, this study highlights the key role of the entry and growth of new firms in generating economic growth and in creating employment. A second lesson concerns the need to develop or strengthen legal and regulatory institutions to oversee the management and governance of both private and state enterprises. A third lesson involves recognizing that winners from the early stages of reform may oppose subsequent reforms when these reduce their initially substantial benefits.


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  • País

    Federação Russa,

    Europa e Ásia Central,

  • Região

    Europa e Ásia Central,

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    Transition - The first ten years : analysis and lessons for Eastern Europe and the former Soviet Union

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    transition economy;Transition economies;energy use per unit of gdp;Gross National Income Per Capita;information storage and retrieval system;public expenditure on education;high marginal tax rate;European Bank for Reconstruction;access to foreign exchange;hard budget constraint;soft budget constraint;state sector worker;external economic shock;foreign direct investment;Political Systems;implementation of policies;gains and losses;share of employment;method of privatization;per capita income;Social Safety Nets;private sector job;price of oil;gdp growth rate;flow of resource;global financial crisis;labor force work;economic policy choices;economies in transition;intergovernmental fiscal relation;increase in inequality;mature market economy;purchasing power parity;stock market capitalization;minimum capital requirement;disposition of asset;foreign exchange regime;Rule of Law;incentives for efficiency;quality of education;barrier to entry;investments in education;prior written permission;secure property right;small household plot;innovation and growth;security of property;cost of entry;social policy design;countries in transition;social security contribution;measure of inequality;annual output;average poverty rate;state enterprises;economic reform;asset stripping;investment climate;banking sector;rent seeking;macroeconomic crisis;state capacity;civil strife;competitive market;large enterprise;public good;Public Goods;reform process;business environment;income gain;political pressure;absolute poverty;social cost;fiscal policy;state ownership;banking system;populous country;Fiscal policies;reform policy;political power;radical reform;nonperforming loan;production system;managerial behavior;economic recovery;output decline;transition process;productivity differences;command economy;civil liberty;basic infrastructure;transition country;medium-size enterprise;efficiency gain;exit mechanism;increased inequality;transition countries;job opportunity;output recovery;transparent privatization;high poverty;vested interests;adjustment cost;Basic Education;SME sector;institutional change;Macroeconomic Policy;capital stock;block reform;income opportunity;job opportunities;health clinics;reform effort;income inequality;social transfer;registration procedure;banking crisis;corporate governance;productive use;political support;state support;minority share;Social Protection;judicial system;social reform;lower rate;regional impact;competitive investment;increasing inequality;high corruption;bank debt;widespread corruption;public support;wage dispersion;government credibility;Political Economy;failed bank;book design;prudential norm;present study;capital adequacy;effective supervision;creditworthy borrower;Labor Market;legal drafting;regulatory institution;fiscal adjustment;Rural Industry;institutional environment;state capture;financial transfer;political control;market price;private gain;multiparty elections;political commitment;political executive;inappropriate policy;political landscape;pension system;product market;introducing competition;price liberalization;nation building;worker training;health facility;political right;Child care;closure standard;social assets;severance payment;enforcement capacity;strategic investor;tie in;external partner;common heritage;vulnerable group;health expenditure;negative effect;increase growth;financial market;veto point;student-teacher ratio;market entry;political contestability;private interest;energy intensities;energy intensity;conversion rate;contract right;Public Infrastructure;cheap energy;reducing uncertainty;significant factor;competitive environment;higher inequality;social consensus;annual revenue;Energy Sector;Tax Exemption;powerful lobbies;effective policies;world price;domestic price;unequal country;tax avoidance;smaller enterprise;factor price;subsidiary right;human capital;special treatment;labor productivity;Cash flow;early entry;total employment;private enterprise;industrial country



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