From Sharp Stabilization to Growth: On the Political Economy of Israel's Transition / Michael Bruno.

Format:

Book

Author/Creator:

Bruno, Michael.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w3881.

NBER working paper series no. w3881

Language:

English

Subjects (All):

Israel--Economic policy.

Israel.

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

From Sharp Stabilization to Growth

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1991.

Cambridge, Mass. : National Bureau of Economic Research, 1991.

Summary:

The paper considers the interplay of the design and execution of stabilization policy and structural reform with the role of various agents and pressure groups in a democracy. The context is the political economy of Israel's transition from a successful stabilization to a renewed growth process whose sustainability is yet to be attained. Particular emphasis is put on the role of Central Bank independence, the fight over the budget and over the role of the exchange rate in the aftermath of a sharp stabilization, and the process of financial and capital market reform. The analysis was done from the point of view and temporary role of an academic as a policy-maker, in this case as the Governor of the Central Bank and Senior Advisor to the government.

Notes:

Print version record

October 1991.