Please use this identifier to cite or link to this item:
Full metadata record
DC FieldValueLanguage
dc.contributor.authorFardmanesh, Mohsenen_US
dc.contributor.authorTan, Lien_US
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.publisher|aYale Univ., Economic Growth Center |cNew Haven, Conn.en_US
dc.relation.ispartofseries|aCenter Discussion Paper, Economic Growth Center |x982en_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

Files in This Item:
116.92 kB

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