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Economic Policy Reform

The Second Stage

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—the 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.

Vittorio Corbo
Cimon Cowan
Sebastian Edwards
Stephan Haggard
Michael Kremer
Steven Matusz
Frederic S. Mishkin
Jonathan Morduch
Roger G. Noll
Miguel A. Savastano
T. Paul Shultz
Mary M. Shirley
T.N. Srinivasan
Joseph E. Stiglitz
Vito Tanzi
David Tarr
Aaron Tornell

621 pages | 15 line drawings, 32 tables | 6 x 9 | © 2000

Economics and Business: Economics--International and Comparative

Table of Contents

Foreword: Gerhard Casper
I. Overview
1. Introduction: Anne O. Krueger
2. Interests, Institutions, and Policy Reform
Stephan Haggard
Comment: Abhijit V. Banerjee
3. Economic Policy Reform in Latin America
Vittorio Corbo
Comment: Miguel A. Savastano
4. Economic Reforms in South Asia
T. N. Srinivasan
II. Shifting to Reliance on Markets
5. Privatizing the Privatized
Aaron Tornell
Comment: Nicholas C. Hope
6. Telecommunications Reform in Developing Countries
Roger G. Noll
Comment: Takatoshi Ito
7. Reforming Urban Water Systems in Developing Countries
Roger G. Noll, Mary M. Shirley, and Simon Cowan
Comment: Takatoshi Ito
III. The Human Dimensions of Economic Policy Reform
8. Labor Market Reforms: Issues, Evidence, and Prospects
T. Paul Schultz
Comment: Mario I. Blejer
Comment: Julie Schaffner
9. Improving School Quality in Developing Countries
Michael Kremer
Comment: Anjini Kochar
Comment: T. Paul Schultz
10. Adjusting to Trade Policy Reform
Steven Matusz and David Tarr
Comment: Julie Schaffner
11. Reforming Poverty Alleviation Policies
Jonathan Morduch
Comment: Anjini Kochar
IV. Second-Stage Macroeconomic Reforms
12. Rationalizing the Government Budget: Or Why Fiscal Policy Is So Difficult
Vito Tanzi
13. Exchange Rates in Emerging Economies: What Do We Know? What Do We Need to Know?
Sebastian Edwards and Miguel A. Savastano
14. Financial Market Reform
Frederic S. Mishkin
V. Conclusion
15. Reflections on the Theory and Practice of Reform
Joseph E. Stiglitz
16. Agenda for Future Research: What We Need to Know
Anne O. Krueger
Author Index
Subject Index

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