01933cas a2200265 a 4500 AALejournalIMF007249 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451980042 1018-5941 BD-DhAAL BD-DhAAL Fischer, Stanley. Stabilization and Growth in Transition Economies : The Early Experience / Stanley Fischer, Carlos Vegh Gramont, Ratna Sahay. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (32 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 analyzes the growth and stabilization experience in 26 transition economies in eastern Europe, the former Soviet Union, and Mongolia for the period 1989-1994. Inflation rates have declined significantly in most countries following an inflation stabilization program. Growth resumes after stabilization occurs, typically with a lag of about two years. Reducing inflation thus appears to be a precondition for growth. An econometric analysis of the short-run determinants of inflation and growth illustrates the key roles of fixed exchange rates, improved fiscal balances, and structural reforms in spurring growth and lowering inflation, and confirms that inflation stabilization programs have been beneficial for growth even after controlling for structural reforms. Mode of access: Internet Sahay, Ratna. Vegh Gramont, Carlos. IMF Working Papers; Working Paper ; No. 1996/031 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/031/001.1996.issue-031-en.xml IMF e-Library