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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP500 |
DP500 The Transition to Convertibility in Eastern Europe and the USSR | |
Richard Portes | |
发表日期 | 1991 |
出版年 | 1991 |
语种 | 英语 |
摘要 | This paper discusses when and how to introduce foreign exchange convertibility in the process of transformation of the socialist centrally-planned economies into market economies based on private property. It elucidates the need for `robust sequencing' in a programme of economic reforms and the importance of establishing the credibility of the programme. It then discusses why convertibility is so important in the sequence, and it goes on to deal with implementation and exchange rate policy. Macroeconomic stabilization is treated as a central issue in the strategy for achieving convertibility. Finally, the paper comments on alternative sequences and the role of external financial support for convertibility. |
主题 | International Macroeconomics |
关键词 | Convertibility Eastern europe Exchange rates Sequencing |
URL | https://cepr.org/publications/dp500 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529656 |
推荐引用方式 GB/T 7714 | Richard Portes. DP500 The Transition to Convertibility in Eastern Europe and the USSR. 1991. |
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