Structural Adjustment in the Transition : Case Studies from Albania, Azerbaijan, Kyrgyz Republic, and Moldova
The study reviews the performance of four transition countries - Albania, Azerbaijan, the Kyrgyz Republic, and Moldova - in the areas of private, and financial sector development, identifying both their achievements, and challenges, to extract bene...
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Washington, DC: World Bank
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2002/01/1684360/structural-adjustment-transition-case-studies-albania-azerbaijan-kyrgyz-republic-moldova http://hdl.handle.net/10986/14052 |
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okr-10986-140522021-04-23T14:03:11Z Structural Adjustment in the Transition : Case Studies from Albania, Azerbaijan, Kyrgyz Republic, and Moldova Siegelbaum, Paul J. Sherif, Khaled Borish, Michael Clarke, George CASE STUDIES TRANSITION ECONOMIES STRUCTURAL ADJUSTMENT PRIVATE SECTOR DEVELOPMENT FINANCIAL SECTOR REFORM MARKET ECONOMY ECONOMIC CRISIS POLICY REFORM GOVERNMENT ROLE COMPETITIVENESS REGULATORY FRAMEWORK FINANCIAL MANAGEMENT FISCAL POLICY INSTITUTIONAL CAPACITY TAXATION ENTERPRISE DEVELOPMENT BUDGET ADMINISTRATION PRIVATIZATION CRITERIA FOREIGN INVESTMENT OWNERSHIP ACCOUNTING AGRICULTURE BALANCE OF PAYMENTS BANK FOR INTERNATIONAL SETTLEMENTS BANK LENDING BANKING CRISES BANKING SECTOR BANKING SYSTEM BANKRUPTCY BUDGET CONSTRAINTS CAPITAL ADEQUACY CAPITAL MARKETS CASH PAYMENTS CENTRAL BANKS CENTRAL PLANNING CIVIL SERVICE COMPETITIVENESS CONSUMER PRICE INDEX CORRUPTION COUNTRY COMPARISONS CPI DEVELOPMENT REPORTS DEVELOPMENT STRATEGY ECONOMIC COOPERATION ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC SYSTEMS ECONOMIC TRENDS ECONOMIES OF SCALE EMPLOYMENT ENTERPRISE REFORM EXCHANGE RATES EXPENDITURE REFORM EXPENDITURES FINANCIAL DISCIPLINE FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FISCAL FISCAL SITUATIONS FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN MARKETS FOREIGN PARTICIPATION FREE TRADE GNP GOVERNMENT AGENCIES GROSS DOMESTIC PRODUCT GROSS NATIONAL PRODUCT HARD BUDGET CONSTRAINTS HEALTH CARE HEALTH CARE FINANCING HOUSING HUMAN DEVELOPMENT INSTITUTIONAL OBSTACLES INSURANCE INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL STANDARDS INVESTMENT CLIMATE JUDICIARY LAND USE LAWS LEGAL FRAMEWORK LEGISLATION LIQUIDATION LIQUIDITY LIVING STANDARDS LOCAL GOVERNMENT The study reviews the performance of four transition countries - Albania, Azerbaijan, the Kyrgyz Republic, and Moldova - in the areas of private, and financial sector development, identifying both their achievements, and challenges, to extract beneficial reform efforts, and alternative approaches, setting the pace for sustainable growth. These countries were selected because they are among the poorest in the region, whose problems are seemingly intractable, and have been largely detached from the international marketplace until the transition began. Thus, in terms of history, resource endowment, and proximity to markets they are viewed as "late reformers" in economic development, and competitiveness, despite policy reforms. Enterprise arrears, and soft budget constraints have been a significant problem in many transition economies, more often than not, manifested as some fiscal tightening occurred to offset budget constraints. Hence, a core challenge of the transition is to reduce the role of government from all encompassing presence, towards a professionally managed model, and one which provides high service delivery, strengthens civil institutions, and plays an effective regulatory role in a market economy. This requires improved financial discipline, reasonable fiscal policy, and structural adjustment, while privatization that promotes concentrated outsider ownership, and foreign participation, should be favored. 2013-06-20T14:39:43Z 2013-06-20T14:39:43Z 2002-01 http://documents.worldbank.org/curated/en/2002/01/1684360/structural-adjustment-transition-case-studies-albania-azerbaijan-kyrgyz-republic-moldova 0-8213-5065-X http://hdl.handle.net/10986/14052 English en_US World Bank Discussion Paper;No. 429 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia ALBANIA Azerbaijan Kyrgyz Republic Moldova |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
CASE STUDIES TRANSITION ECONOMIES STRUCTURAL ADJUSTMENT PRIVATE SECTOR DEVELOPMENT FINANCIAL SECTOR REFORM MARKET ECONOMY ECONOMIC CRISIS POLICY REFORM GOVERNMENT ROLE COMPETITIVENESS REGULATORY FRAMEWORK FINANCIAL MANAGEMENT FISCAL POLICY INSTITUTIONAL CAPACITY TAXATION ENTERPRISE DEVELOPMENT BUDGET ADMINISTRATION PRIVATIZATION CRITERIA FOREIGN INVESTMENT OWNERSHIP ACCOUNTING AGRICULTURE BALANCE OF PAYMENTS BANK FOR INTERNATIONAL SETTLEMENTS BANK LENDING BANKING CRISES BANKING SECTOR BANKING SYSTEM BANKRUPTCY BUDGET CONSTRAINTS CAPITAL ADEQUACY CAPITAL MARKETS CASH PAYMENTS CENTRAL BANKS CENTRAL PLANNING CIVIL SERVICE COMPETITIVENESS CONSUMER PRICE INDEX CORRUPTION COUNTRY COMPARISONS CPI DEVELOPMENT REPORTS DEVELOPMENT STRATEGY ECONOMIC COOPERATION ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC SYSTEMS ECONOMIC TRENDS ECONOMIES OF SCALE EMPLOYMENT ENTERPRISE REFORM EXCHANGE RATES EXPENDITURE REFORM EXPENDITURES FINANCIAL DISCIPLINE FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FISCAL FISCAL SITUATIONS FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN MARKETS FOREIGN PARTICIPATION FREE TRADE GNP GOVERNMENT AGENCIES GROSS DOMESTIC PRODUCT GROSS NATIONAL PRODUCT HARD BUDGET CONSTRAINTS HEALTH CARE HEALTH CARE FINANCING HOUSING HUMAN DEVELOPMENT INSTITUTIONAL OBSTACLES INSURANCE INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL STANDARDS INVESTMENT CLIMATE JUDICIARY LAND USE LAWS LEGAL FRAMEWORK LEGISLATION LIQUIDATION LIQUIDITY LIVING STANDARDS LOCAL GOVERNMENT |
| spellingShingle |
CASE STUDIES TRANSITION ECONOMIES STRUCTURAL ADJUSTMENT PRIVATE SECTOR DEVELOPMENT FINANCIAL SECTOR REFORM MARKET ECONOMY ECONOMIC CRISIS POLICY REFORM GOVERNMENT ROLE COMPETITIVENESS REGULATORY FRAMEWORK FINANCIAL MANAGEMENT FISCAL POLICY INSTITUTIONAL CAPACITY TAXATION ENTERPRISE DEVELOPMENT BUDGET ADMINISTRATION PRIVATIZATION CRITERIA FOREIGN INVESTMENT OWNERSHIP ACCOUNTING AGRICULTURE BALANCE OF PAYMENTS BANK FOR INTERNATIONAL SETTLEMENTS BANK LENDING BANKING CRISES BANKING SECTOR BANKING SYSTEM BANKRUPTCY BUDGET CONSTRAINTS CAPITAL ADEQUACY CAPITAL MARKETS CASH PAYMENTS CENTRAL BANKS CENTRAL PLANNING CIVIL SERVICE COMPETITIVENESS CONSUMER PRICE INDEX CORRUPTION COUNTRY COMPARISONS CPI DEVELOPMENT REPORTS DEVELOPMENT STRATEGY ECONOMIC COOPERATION ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC SYSTEMS ECONOMIC TRENDS ECONOMIES OF SCALE EMPLOYMENT ENTERPRISE REFORM EXCHANGE RATES EXPENDITURE REFORM EXPENDITURES FINANCIAL DISCIPLINE FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FISCAL FISCAL SITUATIONS FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN MARKETS FOREIGN PARTICIPATION FREE TRADE GNP GOVERNMENT AGENCIES GROSS DOMESTIC PRODUCT GROSS NATIONAL PRODUCT HARD BUDGET CONSTRAINTS HEALTH CARE HEALTH CARE FINANCING HOUSING HUMAN DEVELOPMENT INSTITUTIONAL OBSTACLES INSURANCE INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL STANDARDS INVESTMENT CLIMATE JUDICIARY LAND USE LAWS LEGAL FRAMEWORK LEGISLATION LIQUIDATION LIQUIDITY LIVING STANDARDS LOCAL GOVERNMENT Siegelbaum, Paul J. Sherif, Khaled Borish, Michael Clarke, George Structural Adjustment in the Transition : Case Studies from Albania, Azerbaijan, Kyrgyz Republic, and Moldova |
| geographic_facet |
Europe and Central Asia ALBANIA Azerbaijan Kyrgyz Republic Moldova |
| relation |
World Bank Discussion Paper;No. 429 |
| description |
The study reviews the performance of
four transition countries - Albania, Azerbaijan, the Kyrgyz
Republic, and Moldova - in the areas of private, and
financial sector development, identifying both their
achievements, and challenges, to extract beneficial reform
efforts, and alternative approaches, setting the pace for
sustainable growth. These countries were selected because
they are among the poorest in the region, whose problems are
seemingly intractable, and have been largely detached from
the international marketplace until the transition began.
Thus, in terms of history, resource endowment, and proximity
to markets they are viewed as "late reformers" in
economic development, and competitiveness, despite policy
reforms. Enterprise arrears, and soft budget constraints
have been a significant problem in many transition
economies, more often than not, manifested as some fiscal
tightening occurred to offset budget constraints. Hence, a
core challenge of the transition is to reduce the role of
government from all encompassing presence, towards a
professionally managed model, and one which provides high
service delivery, strengthens civil institutions, and plays
an effective regulatory role in a market economy. This
requires improved financial discipline, reasonable fiscal
policy, and structural adjustment, while privatization that
promotes concentrated outsider ownership, and foreign
participation, should be favored. |
| format |
Publications & Research :: Publication |
| author |
Siegelbaum, Paul J. Sherif, Khaled Borish, Michael Clarke, George |
| author_facet |
Siegelbaum, Paul J. Sherif, Khaled Borish, Michael Clarke, George |
| author_sort |
Siegelbaum, Paul J. |
| title |
Structural Adjustment in the Transition : Case Studies from Albania, Azerbaijan, Kyrgyz Republic, and Moldova |
| title_short |
Structural Adjustment in the Transition : Case Studies from Albania, Azerbaijan, Kyrgyz Republic, and Moldova |
| title_full |
Structural Adjustment in the Transition : Case Studies from Albania, Azerbaijan, Kyrgyz Republic, and Moldova |
| title_fullStr |
Structural Adjustment in the Transition : Case Studies from Albania, Azerbaijan, Kyrgyz Republic, and Moldova |
| title_full_unstemmed |
Structural Adjustment in the Transition : Case Studies from Albania, Azerbaijan, Kyrgyz Republic, and Moldova |
| title_sort |
structural adjustment in the transition : case studies from albania, azerbaijan, kyrgyz republic, and moldova |
| publisher |
Washington, DC: World Bank |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2002/01/1684360/structural-adjustment-transition-case-studies-albania-azerbaijan-kyrgyz-republic-moldova http://hdl.handle.net/10986/14052 |
| _version_ |
1764425074921701376 |