Resource Allocation During the Transition to a Market Economy : Policy Implications of Supply Bottlenecks and Adjustment Costs /
The paper discusses the case against a laissez faire approach to resource allocation and develops a model of supply bottlenecks. It argues that: (1) once budget constraints are hardened and credit markets begin to function appropriately, externalities associated with production bottlenecks and adjus...
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| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
1993.
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| Collection: | IMF Working Papers; Working Paper ;
No. 1993/006 |
| Accès en ligne: | Full text available on IMF |