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Trade reform and external adjustment : the experience of Hungary, Poland, Portugal, Turkey, and Yugoslavia (Inglês)

This seminar brought together ministers and other senior officials of five middle-income countries form Eastern and Southern Europe which form a part of the World Bank's Europe, Middle East, and North Africa region. One of the major points of interest in the seminar was to establish the sense in which centrally planned economies face a fundamentally different set of problems when trying to reform trade policies than do market economies. This summary paper attempts to synthesize the major issues which arose from the seven presentations as well as from the lively discussion from the floor of the seminar which characterized each of its sessions. This is done by reference to the following broad themes: the origins of the need for adjustment; the nature of the necessary adjustments; the role of trade reform in the adjustment process; the special trade reform problems in socialist countries; the policy content of adjustment and the role of devaluation; sequencing and the characteristics of successful trade liberalization; and the international environment for trade reform. On some of these themes there was considerable unanimity of view across the very diverse set of countries whose experiences were recounted. On others, such as whether trade reform is a substantively different problem in socialist as compared to capitalist systems, there were a number of different perspectives which were not reconciled by discussion.

Detalhes

  • Autor

    Roe, Alan Roy, Jayanta

  • Data do documento

    1990/08/31

  • TIpo de documento

    Publicação

  • No. do relatório

    EDI16

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Europa e Ásia Central,

  • Região

    Europa e Ásia Central,

  • Data de divulgação

    2010/07/01

  • Nome do documento

    Trade reform and external adjustment : the experience of Hungary, Poland, Portugal, Turkey, and Yugoslavia

  • Palavras-chave

    high real interest rate;access to new technology;access to international technology;efficiency of resource use;Land and Water Resources;real devaluation;Trade Policies;Trade Policy;Exchange Rates;Exchange rate policies;current account deficit;trade policy reform;exchange rate policy;centrally planned economy;balance of payment;exchange rate devaluation;real wage;public sector deficit;high growth rate;international economic relation;process of adjustment;liberal trade;payment on debt;direction of trade;external debt burden;heavily indebted country;availability of fund;economic policy analysis;higher interest rate;efficiency of investment;factor of production;concentration of ownership;highly indebted country;structure of production;restrictions on imports;real exchange rate;expansion of trade;direct foreign investment;elasticity of supply;foreign direct investment;means of production;diversion of imports;market economy model;voluntary export restraint;terms of trade;nominal exchange rate;export growth rate;public sector industry;liberalization of trade;transport policy issue;rate of inflation;elasticity of demand;managers of state;high technology product;forms of ownership;ratio of debt;foreign exchange allocation;socialist market economy;stabilization program;investment rate;domestic demand;export performance;structural adjustment;industrialized country;Industrialized countries;nominal devaluation;Socialist countries;domestic absorption;price signal;income policy;Income policies;adjustment program;real depreciation;import protection;raw material;import restriction;Socialist economies;export industry;fiscal deficit;protective barrier;relative price;home market;export supply;social control;external deficit;world economic;socialist system;trading partner;fundamental changes;capitalist system;productive efficiency;domestic industry;inappropriate policy;Technology Transfer;Boosting Growth;foreign debt;price control;export ratio;Agricultural Trade;Fiscal policies;fiscal policy;open trade;reform process;incentive system;tax rate;export capital;international standard;price competitiveness;price structure;high inflation;macroeconomic framework;government intervention;domestic saving;investment level;international level;general budget;state monopoly;domestic policies;domestic price;Industrial Policy;price regime;productive resource;Industrial Policies;wage level;inflation differential;import liberalization;severely limits;trade union;preferential markets;industrial country;protectionist policy;import surcharges;complementary policies;real appreciation;comparative advantage;incentive structure;selling price;support policy;industrial growth;industrial sector;historical policy;productive potential;educational system;world market;compensation policy;perverse results;supply elasticity;complementary measure;administrative authority;political feasibility;manufacturing sector;export policy;debt problem;administrative allocation;import competition;Labor Market;commercial bank;general taxation;analytical skill;government budget;social reasons;train activity;productive system;borrowing rate;financial viability;transparent treatment;heavily dependent;investment efficiency;debt situation;financial failure;taxpayer money;business strategy;resource persons;commodity price;external capital;uruguay round;financial adjustment;development policy;International Trade;international environment;seminar reports;informal exchange;commercial policy;investment analysis;domestic investment;liberalizing trade;social loss;domestic production;macroeconomic adjustment;weighted average;foreign borrowing;external resource;borrowing requirement;resource transfer;government financing;adjustment effort;large debt;productive enterprise;hard currency;import capacity;payment deficit;free market;real adjustment;trade regime;market system;central control;adjustment problem;administrative guidance;improved resource;opportunity cost;seminar papers;individual enterprise

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