Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/46947 
Authors: 
Year of Publication: 
1993
Citation: 
[Publisher:] Institut für Weltwirtschaft (IfW) [Place:] Kiel [Year:] 1993
Series/Report no.: 
Kiel Working Paper No. 552
Publisher: 
Kiel Institute of World Economics (IfW), Kiel
Abstract: 
Opposing recommendations with respect to key sequencing issues characterize the controversy between the advocates of the orthodox (technocratic) approach and the recently popularized political economy approach. It is suggested that the concept of credibility provides in many cases a fruitful link between both categories of proposals. Historical lessons as well as the recent experience of developing countries and economies in transition support this view and help determine the proper reform sequence. Stressing the role of initial conditions, different sequencing tactics are recommended for developing countries and postsocialist economies. In particular, the optimal order of domestic financial market reform and privatization differs for both groups of countries.
Document Type: 
Working Paper
Document Version: 
Digitized Version

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.