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Economics Of Tranition

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ISBN 10: 1840141352 / ISBN 13: 9781840141351
Condition: As New Hardcover

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Bibliographic Details

Title: Economics Of Tranition

Binding: Hardcover

Book Condition:As New

About this title


In this volume a new forecasting and planning methodology is developed for transforming a socialist, closed and/or mixed economy to a free-market economy. The method assures macroeconomic equilibrium and interalia determines equilibrating (foreign) exchange, wages, rates and so on. Whereas the swith to a free-market system (based on international prices) is immediate, other reforms and restructuring can be made gradual, taking into account political, economic and social constraints. The methodology makes use of existing structures and capital stock during transition, as against complete destruction brought about under "big bang" approaches. The method gives a good estimate of effects of every reform measure taken, which implies superiority over other forecasting techniques.

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