Exchange Rate and the Price Level in Socialist Economies

Exchange Rate and the Price Level in Socialist Economies
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 26
Release: 1990-05-01
Genre: Business & Economics
ISBN: 1451971044

The paper examines how the evolution from a classical centrally planned economy to a more market-oriented system will enhance the linkage between the exchange rate and the domestic price level. However, during the transition--as the economy continues to be predominantly state-owned, the inherited production structure is only gradually modified, capital and labor mobility are still relatively low and financial discipline is less-than-complete--the elasticity of the domestic price level with respect to a change in the exchange rate, or, to a change in world market prices, may still be lower than in an otherwise comparable market economy.

Income, Inequality, and Poverty During the Transition from Planned to Market Economy

Income, Inequality, and Poverty During the Transition from Planned to Market Economy
Author: Branko Milanovi?
Publisher: World Bank Publications
Total Pages: 256
Release: 1998
Genre: Business & Economics
ISBN: 9780821339947

World Bank Technical Paper No. 394. Joint Forest Management (JFM) has emerged as an important intervention in the management of Indias forest resources. This report sets out an analytical method for examining the costs and benefits of JFM arrangements. Two pilot case studies in which the method was used demonstrate interesting outcomes regarding incentives for various groups to participate. The main objective of this study is to develop a better understanding of the incentives for communities to participate in JFM.

Unveiling the North Korean Economy

Unveiling the North Korean Economy
Author: Byung-Yeon Kim
Publisher: Cambridge University Press
Total Pages: 343
Release: 2017-06-08
Genre: Business & Economics
ISBN: 1107183790

A comprehensive, systematic analysis of the North Korean economy, exposing its hidden workings through quantitative data analysis and surveys.

Economic Freedom of the World, 1975-1995

Economic Freedom of the World, 1975-1995
Author: James D. Gwartney
Publisher:
Total Pages: 348
Release: 1996
Genre: Business & Economics
ISBN:

Derives an indicator for economic freedom based on personal choice, protection of private property, and freedom of exchange. Considers levels and trends in economic freedom, and their correlation with economic growth in 103 countries.

Socialism - An Economic and Sociological Analysis

Socialism - An Economic and Sociological Analysis
Author: Ludwig von Mises
Publisher: VM eBooks
Total Pages: 766
Release: 2016-11-24
Genre: Business & Economics
ISBN:

Socialism is the watchword and the catchword of our day. The socialist idea dominates the modem spirit. The masses approve of it. It expresses the thoughts and feelings of all; it has set its seal upon our time. When history comes to tell our story it will write above the chapter “The Epoch of Socialism.” As yet, it is true, Socialism has not created a society which can be said to represent its ideal. But for more than a generation the policies of civilized nations have been directed towards nothing less than a gradual realization of Socialism.17 In recent years the movement has grown noticeably in vigour and tenacity. Some nations have sought to achieve Socialism, in its fullest sense, at a single stroke. Before our eyes Russian Bolshevism has already accomplished something which, whatever we believe to be its significance, must by the very magnitude of its design be regarded as one of the most remarkable achievements known to world history. Elsewhere no one has yet achieved so much. But with other peoples only the inner contradictions of Socialism itself and the fact that it cannot be completely realized have frustrated socialist triumph. They also have gone as far as they could under the given circumstances. Opposition in principle to Socialism there is none. Today no influential party would dare openly to advocate Private Property in the Means of Production. The word “Capitalism” expresses, for our age, the sum of all evil. Even the opponents of Socialism are dominated by socialist ideas. In seeking to combat Socialism from the standpoint of their special class interest these opponents—the parties which particularly call themselves “bourgeois” or “peasant”—admit indirectly the validity of all the essentials of socialist thought. For if it is only possible to argue against the socialist programme that it endangers the particular interests of one part of humanity, one has really affirmed Socialism. If one complains that the system of economic and social organization which is based on private property in the means of production does not sufficiently consider the interests of the community, that it serves only the purposes of single strata, and that it limits productivity; and if therefore one demands with the supporters of the various “social-political” and “social-reform” movements, state interference in all fields of economic life, then one has fundamentally accepted the principle of the socialist programme. Or again, if one can only argue against socialism that the imperfections of human nature make its realization impossible, or that it is inexpedient under existing economic conditions to proceed at once to socialization, then one merely confesses that one has capitulated to socialist ideas. The nationalist, too, affirms socialism, and objects only to its Internationalism. He wishes to combine Socialism with the ideas of Imperialism and the struggle against foreign nations. He is a national, not an international socialist; but he, also, approves of the essential principles of Socialism.

Flexible Exchange Rates for a Stable World Economy

Flexible Exchange Rates for a Stable World Economy
Author: Joseph E. Gagnon
Publisher: Peterson Institute
Total Pages: 301
Release: 2011
Genre: Business & Economics
ISBN: 0881326356

Volatile exchange rates and how to manage them are a contentious topic whenever economic policymakers gather in international meetings. This book examines the broad parameters of exchange rate policy in light of both high-powered theory and real-world experience. What are the costs and benefits of flexible versus fixed exchange rates? How much of a role should the exchange rate play in monetary policy? Why don't volatile exchange rates destabilize inflation and output? The principal finding of this book is that using monetary policy to fight exchange rate volatility, including through the adoption of a fixed exchange rate regime, leads to greater volatility of employment, output, and inflation. In other words, the "cure" for exchange rate volatility is worse than the disease. This finding is demonstrated in economic models, in historical case studies, and in statistical analysis of the data. The book devotes considerable attention to understanding the reasons why volatile exchange rates do not destabilize inflation and output. The book concludes that many countries would benefit from allowing greater flexibility of their exchange rates in order to target monetary policy at stabilization of their domestic economies. Few, if any, countries would benefit from a move in the opposite direction.

Economics of Socialism

Economics of Socialism
Author: J. Wilczynski
Publisher: Taylor & Francis
Total Pages: 234
Release: 2024-03-08
Genre: Business & Economics
ISBN: 1003852947

First published in 1970, Economics of Socialism covers all aspects of socialist economics: planning, profit, production and growth, investment, consumption, labor and land. The author then goes on to discuss pricing, money and banking, fiscal policy and control, and both domestic and foreign trade and international economic cooperation. The book is introduced by a background chapter on the socialist economic system, models of the socialist economy, the reforms, and the new socialist economics. It ends with a singularly objective comparison of socialist and capitalist economies and seeks to answer the question of whether the two systems are indeed converging. The book is based on socialist sources published in the Eastern European countries, which Professor Wilczynski has studied in the original, and which he is able to interpret against a first-hand knowledge of the countries concerned. He also provides a considerable apparatus which will be useful to students: a full glossary of socialist economic terms and extensive references for further reading in English. This is an interesting historical reference work for scholars and researchers of Soviet economics and Russian economics.

The International Payments and Monetary System in the Integration of the Socialist Countries

The International Payments and Monetary System in the Integration of the Socialist Countries
Author: Imre Vincze
Publisher: Springer Science & Business Media
Total Pages: 189
Release: 2013-06-29
Genre: Business & Economics
ISBN: 9401733708

Economic cooperation between the CMEA countries is implemented according to the monetary and financial regulations worked out collectively. The regulations cover the organizational structure of international settlements; the choice of currency for settlements; the principles of international credit transactions ; the determination ofthe exchange rate of the currency used in international settlements to national currencies and to convertible currencies outside the CMEA; the principles and rules ofinternational exchange and transfers; mIes for the currency allotments of citizens (roles of international transfers for citizens). The regulations also contain provisions for international settlements and credit transactions which are concluded through an independent international bank or banks. These regulations, the instruments and institutions together, form the international payments and monetary system of the CMEA. * The financial and monetary regulations of the CMEA community were formed in several stages, depending on the prevailing· conditions and the targets to be attained. In the years between 1949 and 1963 the general form of economic cooperation and of international settlements was the bilateral clearing agreement. In the bilateral agreements which the Soviet Union concluded with the other CMEA countries the currency of settlements was the Soviet rouble. The prices applied in foreign trade were not the internal producer prices of the Soviet Union, but world market prices (main international market prices) expressed in roubles, with the he]p ofthe exchange rate ofthe Soviet rouble to the US dollar, as quoted in the Soviet Union.