Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs

Willem Buiter

No 1997/031, IMF Working Papers from International Monetary Fund

Abstract: Key medium– and longer–term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal–financial–monetary program. The paper aims to assist the design and implementation of future Fund programs and to contribute to the debate about fiscal policy in transition economies. After presenting a framework for evaluating the sustainability of the fiscal–financial–monetary program of the state, some numerical material is presented on public debt, (quasi–) fiscal deficits and monetary financing. Eight budgetary issues of special relevance to transition economies are considered next. The lessons from this study are summarized in a number of propositions.

Keywords: WP; central bank; state enterprise; interest rate; present discounted value; real GDP; rate of inflation; public finance; solvency constraint; borrowing program; FSU country; real value; budget identity; capital formation program; open economy; ratio ceiling; Government debt management; Real interest rates; Public sector; Monetary base; Eastern Europe (search for similar items in EconPapers)
Pages: 57
Date: 1997-04-01
References: Add references at CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=2141 (application/pdf)

Related works:
Working Paper: Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs (1997)
Working Paper: Aspects of fiscal performance in some transition economies under fund-supported programs (1997)
Working Paper: Aspects of Fiscal Performance in some Transition Economies under Fund-supported Programs (1996)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1997/031

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().