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Book
Inflation, Uncertainty, and Growth in Colombia
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ISBN: 1462379133 1452787530 1283568799 9786613881243 1451902921 Year: 1998 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

It has been argued that higher levels of inflation lead to greater uncertainty about future inflation and to greater dispersion of relative prices. In either case, inflation could reduce the efficiency of market prices in coordinating economic activities. This paper shows that the rise of inflation in Colombia, from low levels in the 1950s to average rates of 18–22 percent since the 1970s, has been accompanied by increased uncertainty and relative price dispersion; and that inflation has had a negative and persistent effect on real GDP growth.


Book
Privatization, Social Impact, and Social Safety Nets
Authors: --- ---
ISBN: 1462357067 145279264X 1281599980 1451895496 9786613780676 Year: 1999 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

Privatization promotes economic efficiency and growth, thereby reinforcing macroeconomic adjustment. In the short run, however, it can lead to job losses and wage cuts for workers and higher prices for consumers. This paper discusses these impacts and the fiscal implications of privatization. It then reviews various methods of privatization and finds that public sales and auctions can have more negative effects on workers but maximize the government’s revenue gains. Policymakers’ options for mitigating the social impact of privatization are surveyed, and experiences under adjustment programs reviewed.


Book
From Crisis to Recovery in Korea : Strategy, Achievements, and Lessons
Authors: --- --- --- --- --- et al.
ISBN: 1462359965 1452724989 1282039350 1451902395 9786613796974 Year: 2001 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

This paper reviews and draws lessons from the stabilization and reform program that Korea implemented in response to the 1997-98 crisis. The economy recovered quickly from the deep recession in 1998 and its vulnerability to a balance of payments crisis has been reduced sharply. Significant progress has also been made in stabilizing the financial system and addressing corporate distress, and wide-ranging reforms have made Korea’s economy more open, competitive, and market driven. Notwithstanding these achievements, more needs to be done before the soundness of the corporate and financial sectors is firmly established.

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