Chapter

Synthesis, Policy Lessons, and Open Questions

Michael Bruno

in Crisis, Stabilization, and Economic Reform

Published in print August 1993 | ISBN: 9780198286639
Published online September 2006 | e-ISBN: 9780191603839 | DOI: http://dx.doi.org/10.1093/0198286635.003.0008

Series: Clarendon Lectures in Economics

 Synthesis, Policy Lessons, and Open Questions

More Like This

Show all results sharing this subject:

  • Macroeconomics and Monetary Economics

GO

Show Summary Details

Preview

This chapter returns to a number of common issues that emerged from the cumulative experience reviewed in previous chapters, considers open theoretical questions, and discusses some of the policy lessons. It looks at some of the theoretical arguments that have been suggested to explain the long delays in the adoption of stabilization programmes. It asks whether a universal paradigm has emerged on the necessary basic components of stabilization and structural reform programmes. It then broadens the question by asking if any generalizable lessons can be learned on the optimal sequencing of the various components of reform and whether there exists a real choice between ‘big bang’ and gradualist stabilization and reform strategies.

Keywords: inflation; stabilization programme; structural reform; external shock

Chapter.  12231 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.