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This paper outlines the main characteristics and the development of the centrally planned economic sysetm in Romania before the beginnings of the transition to a market eonomy it then presents the design, objectives, and implementation of the reform program.

Economic policy and planning (general) --- Romania --- Post-communism --- -RO / Romania - Roemenië - Roumanie --- 338.340 --- 331.31 --- 331.33 --- 331.32 --- 331.30 --- 333.481 --- 338.24 <498> --- 338.22 <498> --- politique economique --- reforme economique --- roumanie --- Postcommunism --- World politics --- Communism --- Algemene ontwikkeling in de Derde Wereld. --- Economisch beleid. --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik. --- Structuur van de economie. --- Economische toestand. --- Monetaire crisissen, hervormingen, saneringen en stabilisering. --- Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Roemenië --- Economische organisatieleer. Economisch beleid. Economische politiek--Roemenië --- economisch beleid --- economische hervorming --- roemenie --- Economic policy. --- Working papers --- 338.22 <498> Economische organisatieleer. Economisch beleid. Economische politiek--Roemenië --- 338.24 <498> Instrumenten van de economische politiek. Economische orde. Economisch politieke maatregelen. Stabilisering. Stimuleringsmaatregelen. Regulering. Financiele steunmaatregelen--Roemenië --- RO / Romania - Roemenië - Roumanie --- Economische toestand --- Economisch beleid --- Structuur van de economie --- Structureel beleid. Reglementering. Dereglementering. Ordnungspolitik --- Monetaire crisissen, hervormingen, saneringen en stabilisering --- Algemene ontwikkeling in de Derde Wereld --- Banks and Banking --- Exports and Imports --- Foreign Exchange --- Macroeconomics --- Demography --- Taxation --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Comparison of Public and Private Enterprises and Nonprofit Institutions --- Privatization --- Contracting Out --- Trade Policy --- International Trade Organizations --- Labor Economics: General --- Demographic Economics: General --- International Lending and Debt Problems --- Banking --- Labour --- income economics --- Public finance & taxation --- International economics --- Currency --- Foreign exchange --- Population & demography --- Labor --- Population and demographics --- External debt --- Tariffs --- Taxes --- Credit --- Money --- Banks and banking --- Labor economics --- Population --- Tariff

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In recent years there has been substantial theoretical and empirical work on the role that financial markets play in fostering economic growth and development. This paper provides a selective review of the literature, as well as new empirical evidence on the relationship between financial development and economic growth for a large cross-section sample of countries. While the results indicate that the effect of financial development on growth is positive, the size of the effect varies with different indicators of financial development, estimation method, data frequency, and the functional form of the relationship.

Finance: General --- Statistics --- Economic Development: Financial Markets --- Saving and Capital Investment --- Corporate Finance and Governance --- Economic Growth and Aggregate Productivity: General --- General Financial Markets: General (includes Measurement and Data) --- Financial Markets and the Macroeconomy --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- Finance --- Econometrics & economic statistics --- Financial sector development --- Financial statistics --- Market capitalization --- Stock markets --- Securities markets --- Financial markets --- Economic and financial statistics --- Financial services industry --- Stock exchanges --- Capital market --- Germany

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This paper examines the extent to which there has been convergence in real per capita incomes across developing countries during the last two decades. In the analysis particular emphasis is placed on the separate roles played by private and public sector investment in determining both the extent and the speed of convergence. The paper also considers the importance of the stock of human capital, trade orientation, and foreign direct investment in the long-run growth process. Empirical tests are carried out for a large sample of 95 developing countries over the period 1970-90. The results provide support for the notion of differential effects of public and private investment on long-term growth, as well as for the convergence hypothesis.

Investments: General --- Labor --- Macroeconomics --- Public Finance --- Demography --- National Government Expenditures and Related Policies: General --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Investment --- Capital --- Intangible Capital --- Capacity --- Aggregate Factor Income Distribution --- Human Capital --- Skills --- Occupational Choice --- Labor Productivity --- Demographic Trends, Macroeconomic Effects, and Forecasts --- Public finance & taxation --- Labour --- income economics --- Population & migration geography --- Public investment spending --- Private investment --- Income --- Human capital --- Population growth --- Public investments --- Saving and investment --- Population

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China has been growing at a spectacular rate in recent years, enabling per capita incomes to almost quadruple in only the last decade and a half This paper identifies the sources of economic growth in China from 1953 to 1994. While capital accumulation played an important role in China’s economic growth throughout the period, it is basically the sharp and sustained increase in productivity that accounts for the unprecedented economic growth observed during the reform period. The productivity gains largely reflect market-oriented reforms, especially the expansion of the nonstate sector, as well as China’s “open door” policy that brought about a dramatic expansion in foreign trade and foreign direct investment.

Investments: Stocks --- Macroeconomics --- Production and Operations Management --- Macroeconomics: Production --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Labor Economics: General --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Labour --- income economics --- Investment & securities --- Total factor productivity --- Productivity --- Labor --- Production growth --- Stocks --- Financial institutions --- Industrial productivity --- Labor economics --- Economic theory --- China, People's Republic of

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Using a simple dependent - economy framework, this paper outlines the links between the equilibrium real exchange rate and some of its fundamental exogenous determinants, mainly terms of trade movements and commercial policy changes. Drawing on existing studies of trade flows in developing countries, it is possible to derive plausible quantitative ranges for the response of the equilibrium real exchange rate to both external and policy-induced shocks. The results should be particularly relevant in designing real exchange rate targets and rules that allow for movements in the equilibrium real exchange rate in response to various shocks.

Exports and Imports --- Foreign Exchange --- Macroeconomics --- Taxation --- Economic Theory --- Empirical Studies of Trade --- Agriculture: Aggregate Supply and Demand Analysis --- Prices --- Trade Policy --- International Trade Organizations --- Personal Income, Wealth, and Their Distributions --- Currency --- Foreign exchange --- International economics --- Economic theory & philosophy --- Public finance & taxation --- Real exchange rates --- Terms of trade --- Demand elasticity --- Tariffs --- Personal income --- Economic policy --- nternational cooperation --- Elasticity --- Economics --- Tariff --- Income