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dc.contributor.authorFardmanesh, Mohsenen_US
dc.contributor.authorTan, Lien_US
dc.date.accessioned2012-06-20T13:14:48Z-
dc.date.available2012-06-20T13:14:48Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/59139-
dc.description.abstractThis paper addresses whether the initial declines in the manufacturing and real wages in transition economies were anything unexpected to justify policy reversal, and whether the often-recommended foreign aid would have helped them curb these declines in any significant way. It answers these questions with the help of a two-sector three-factor small open economy model and simulation exercises. It concludes that, given the relative price distortions and the market disequilibria that transition economies inherited from their planning era, the initial declines in their manufacturing and real wages are to be mostly expected. Foreign aid, whose mpact is noticeable only when it is in excess of 5% of GDP, does not curb the decline in their real wages in any measurable way and exacerbates the decline in their manufacturing by a few percent.en_US
dc.language.isoengen_US
dc.publisherYale Univ., Economic Growth Center New Haven, Conn.en_US
dc.relation.ispartofseriesCenter Discussion Paper, Economic Growth Center 982en_US
dc.subject.jelP2en_US
dc.subject.ddc330en_US
dc.subject.keywordliberalizationen_US
dc.subject.keywordstructural adjustmenten_US
dc.subject.keywordtransition economiesen_US
dc.subject.keywordEast European economiesen_US
dc.subject.keywordSoviet Republicsen_US
dc.subject.keywordforeign aiden_US
dc.titleStructural change in transition economies: Does foreign aid matter?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn63595477Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Center Discussion Papers, Economic Growth Center (EGC), Yale University

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