登入選單
返回Google圖書搜尋
Macroeconomic Experiences of the Transition Economies in Indochina
Mr.Ajai ChopraMr.John DodsworthMr.Chi Do PhamMr.Hisanobu Shishido
出版International Monetary Fund, 1996-10-01
主題Business & Economics / Foreign ExchangeBusiness & Economics / Finance / GeneralBusiness & Economics / Banks & Banking
ISBN14518535569781451853551
URLhttp://books.google.com.hk/books?id=QFkYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper examines stabilization policies in Vietnam, Cambodia, and Laos since the late 1980s. Compared with other transition economies, the Indochinese countries avoided an output collapse and moved quickly to strong GDP growth and low inflation. Each adopted a similar mix of policies centered on flexible exchange rates, high real interest rates, fiscal adjustment through expenditure cuts, and the imposition of hard budget constraints on public enterprises. In none of the countries was an exchange rate anchor considered feasible, and money-based stabilization proved effective, despite evident instability in the demand for money.