The applicability of standard reform packages to Eastern Europe

Article Abstract:

The economic reform programs proposed by the IMF and World Bank for Eastern Europe should have considered the nature and characteristics of Soviet-type economies before the stabilization and reform programs were applied. The characteristics include excess inventories, enterprise behavior and structural deformations. Cognizance of these characteristics would have minimized the costs of transition and the public could have been prepared for the consequences of the reform programs.

International Monetary Fund, Economic policy, Eastern Europe, World Bank, Economic stabilization

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Shadow factor price convergence and the response of Chinese state-owned construction enterprises to reform

Article Abstract:

The impact of economic reforms on Chinese state-owned construction enterprises from 1985 to 1991 is evaluated using the nonminimum or shadow cost function. Shadow factor price ratio changes are measured using functional estimates and regressed to determine convergence levels. Factor price inefficiency convergence is not established conclusively, while firms responded to reform either negatively or inconsistently.

Construction, China, Construction industry, Cost (Economics), Costs (Economics)

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The role of the new, entrepreneurial private sector in transition and economic performance in light of the successes in Poland, the Czech Republic, and Hungary

Article Abstract:

The differences in the performance of the new private sector and the privatized sector are analyzed. Factors contributing for successful emergence of the private sector and the market economy, like political liberty, law and order, trust, lower taxes and regulations are discussed.

Czech Republic, Poland, Analysis, Evaluation, Private sector, Industry regulations, Government regulation of business

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