Mobilization of Savings in Eastern European Countries: The Role of the State

Vito Tanzi

No 1991/004, IMF Working Papers from International Monetary Fund

Abstract: As the countries of Eastern and Central Europe transform their economies from centrally–planned to market–oriented, the question of the role that the governments should play in mobilizing savings to ensure a high growth rate must be addressed. This paper argues that the issue of a good allocation of savings must precede that of mobilization. Much evidence suggests that major distortions have, in the past, dramatically reduced the productivity of investment. The paper discusses some of the institutional changes that will be necessary to ensure a better allocation of savings.

Keywords: WP; fiscal policy; centrally-planned economies; financial system; government expenditure; household sector; rate of return; discretionary income; price liberalization; West European country; Income; Personal income; Revenue mobilization; Eastern Europe; Western Europe (search for similar items in EconPapers)
Pages: 26
Date: 1991-01-01
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Citations: View citations in EconPapers (3)

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