A method for indicating economic transition with an application to Albania

Hallwood, C.P. and Macdonald, R. (2002) A method for indicating economic transition with an application to Albania. Eastern Economic Journal, 28(4), pp. 465-480.

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Abstract

We offer a method for assessing the progress of transition economies towards becoming market economies. A simple macroeconomic model is used which incorporates certain microeconomic features relevant to a transition economy that is introducing market-driven resource allocation. According to our model, mean reversion in the real exchange rate suggests that early economic reforms from 1992 to 1996 in Albania were promoting economic transition. Our findings for this period are supportive of the analysis of others including the IMF.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:MacDonald, Professor Ronald
Authors: Hallwood, C.P., and Macdonald, R.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Eastern Economic Journal
ISSN:0094-5056
ISSN (Online):1939-4632

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