Gradual versus comprehensive reform

Article Abstract:

The USSR's policy of taxing labor income and enterprise profits serves as a disincentive to production. Similarly, the USSR has a huge asset base but very little capital because of the absence of an effective privatization program to allocate assets to more efficient uses. More importantly, the Soviet government needs to define the limits of political intervention in the economy. Moreover, the economic reform program must be a comprehensive strategy designed to apply to all sectors of the economy at the same time instead of a gradual industry-by-industry strategy that would give oppositionists a chance to undermine the program.

Economic aspects, Economic development, Soviet Union

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Capital mobility, inflation, and harmonization

Article Abstract:

Creating a global environment for uniform financial claims has the potential of harming domestic economies. The urge to create a global financial market is fanned by the belief that financial crisis in one nation can be transmitted to other nations. Mexico's experience, however, refutes this belief. An international financial market motivates debtors to rely on commercial and industrial loans, resulting in imperiled government securities and local economies.

Financial services industry, Financial services, International aspects, International economic integration, Economic integration

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A test of the demand rule

Article Abstract:

An argument for the use of the demand rule in formulating monetary policy is presented. Topics include the potential superiority of the demand rule to a price rule; the successful testing of the demand rule by the Federal Reserve, whether intentional or not, from 1992 to 1998; and the manner in which monetary stimulus can affect demand growth.

United States, Statistical Data Included, Planning, Monetary policy, Supply and demand

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