TY - BOOK ID - 84656224 TI - The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy : The Case of Romania PY - 2003 SN - 1455279145 1455249793 145197454X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Investments: Energy KW - Public Finance KW - Taxation KW - Industries: Energy KW - Taxation, Subsidies, and Revenue: General KW - Production, Pricing, and Market Structure KW - Size Distribution of Firms KW - Electric Utilities KW - Gas Utilities KW - Pipelines KW - Water Utilities KW - Energy and the Macroeconomy KW - Hydrocarbon Resources KW - Trade Policy KW - International Trade Organizations KW - National Government Expenditures and Related Policies: General KW - Petroleum, oil & gas industries KW - Public finance & taxation KW - Investment & securities KW - Energy sector KW - Natural gas sector KW - Tariffs KW - Electricity KW - Government subsidies KW - Economic sectors KW - Taxes KW - Commodities KW - Expenditure KW - Energy industries KW - Gas industry KW - Tariff KW - Electric utilities KW - Subsidies KW - Romania UR - https://www.unicat.be/uniCat?func=search&query=sysid:84656224 AB - This paper assesses the main issues faced by the energy sector in a transition economy such as Romania and their macroeconomic dimension. It examines how the size of quasi-fiscal subsidies, owing mainly to inappropriate prices and the lack of financial discipline, has led to an increased focus on the energy sector under the IMF-supported programs. The paper analyzes the macroeconomic impact of recent reform measures and discusses the next steps to improve price policy and collection in energy utilities. Shifting to targeted budgetary subsidies appears also to be a crucial reform step. ER -