A Method for Indicating Economic Transition with an Application to Albania

Paul Hallwood and Ronald MacDonald

Eastern Economic Journal, 2002, vol. 28, issue 4, 465-480

Abstract: We offer a method for assessing the progress of transition economies towards becoming market economies. A simple macroeconomic model is used which incorporates certain microeconomic features relevant to a transition economy that is introducing market-driven resource allocation. According to our model, mean reversion in the real exchange rate suggests that early economic reforms from 1992 to 1996 in Albania were promoting economic transition. Our findings for this period are supportive of the analysis of others including the IMF.

Keywords: Exchange Rates; Transitional Economies (search for similar items in EconPapers)
JEL-codes: F31 P27 P33 (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:28:y:2002:i:4:p:465-480

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Eastern Economic Journal is currently edited by Cynthia A. Bansak, St. Lawrence University and Allan A. Zebedee, Clarkson University

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