01701cas a2200241 a 4500 AALejournalIMF008410 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451974546 1934-7456 BD-DhAAL BD-DhAAL Cosse, Stephane. The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy : The Case of Romania / Stephane Cosse. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (26 pages) IMF Policy Discussion 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 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. Mode of access: Internet IMF Policy Discussion Papers; Policy Discussion Paper ; No. 2003/002 Full text available on IMF http://elibrary.imf.org/view/journals/003/2003/002/003.2003.issue-002-en.xml IMF e-Library