The rapid buildup of interenterprise credit in many Central and Eastern European countries is often seen as a major problem that governments must fix. The authors argue that these arrears rise only temporarily...
Franchising and privatization; by Antony W. Dnes. Tradable property rights to water; by Mateen Thobani. Privatization through broad-based ownership strategies; by Stuart Bell. Bettering banking: privatize...
Real exchange rate appreciation usually accompanies stabilization programs based on the exchange rate. One thing that causes the real exchange rate to appreciate is the capital inflows that follow liberalization...
Applied general equilibrium models have become a major tool for the economic analysis of developed and developing countries. Although the theoretical background for these models is well established, the...
After trying a crawling peg exchange rate and controlling inflows of foreign capital, Chile fixed its exchange rate in 1979 and opened its capital account. Drawing on recent contributions to the analysis...
A computable general equilibrium model is used to analyze the growth path of the Chilean economy during 1977-81. During that period a comprehensive package of reforms liberalized international trade and...