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In the 1980s, the formerly planned markets of the Soviet Union and Eastern Europe and the developing nations of Latin America and East Asia embarked upon unprecedented efforts to alter their economic regimes. These first-stage reforms involved a major reconceptualization of the principal elements of the economy, private property, and trade. But in the wake of these reforms, the need for second-stage reforms--thechanges--arose implementation of more structural changes-arose; without the development of new regulatory agencies, tax reform initiatives, adjustments to trade policies, and enhancements in education, labor, and telecommunications, the prospects for economic growth engendered during the first-stage reforms might not be realized. Economic Policy Reform: The Second Stage provides an incisive overview of the context of these crucial second-stage reforms with a thorough examination of the issues confronting the policymakers involved. Edited by Anne O. Krueger, it features studies from distinguished experts in various fields of economics. Each chapter of this book addresses a key issue in economic policy, examines the progress of reforms in the markets considered, and then explores what research might further aid leaders as they embark on fundamental changes. Both a handbook for economists and practitioners and a theoretical exploration of the most significant challenges currently facing the economic world, this new book will be indispensable to anyone involved in the global economic scene. Contributors: Vittorio CorboCimon CowanSebastian EdwardsStephan HaggardMichael KremerSteven MatuszFrederic S. MishkinJonathan MorduchRoger G. NollMiguel A. SavastanoT. Paul ShultzMary M. ShirleyT.N. SrinivasanJoseph E. StiglitzVito TanziDavid TarrAaron Tornell
The author argues that American productivity and living standards, along with those of other countries, will improve only with a renewed commitment to open multilateral trade.
An analysis of the challenges and opportunities facing the World Trade Organization. Papers address the WTO's institutional capacity, the resources available to the secretariat, policy issues facing the WTO, and the WTO's relationship with transition and developing countries.
The author considers the implications of deeper integration in the international economy for developing countries. She traces the reasons for the developing countries' reversals of earlier policies and demonstrates the importance of the open trading system for them.
This volume provides a survey of thought about exchange-rate determination as it emerged in the 1970s. The survey is intended to reach non-specialist professional economists whose balance-of-payments theory was learned before the 1970s, as well as to provide graduate students and advanced undergraduates with an up-to-date account of the field.
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