01818cas a2200277 a 4500 AALejournalIMF000252 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451853551 1018-5941 BD-DhAAL BD-DhAAL Pham, Chi. Macroeconomic Experiences of the Transition Economies in Indochina / Chi Pham, Ajai Chopra, John Dodsworth, Hisanobu Shishido. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (44 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines stabilization policies in Vietnam, Cambodia, and Laos since the late 1980s. Compared with other transition economies, the Indochinese countries avoided an output collapse and moved quickly to strong GDP growth and low inflation. Each adopted a similar mix of policies centered on flexible exchange rates, high real interest rates, fiscal adjustment through expenditure cuts, and the imposition of hard budget constraints on public enterprises. In none of the countries was an exchange rate anchor considered feasible, and money-based stabilization proved effective, despite evident instability in the demand for money. Mode of access: Internet Chopra, Ajai. Dodsworth, John. Shishido, Hisanobu. IMF Working Papers; Working Paper ; No. 1996/112 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/112/001.1996.issue-112-en.xml IMF e-Library