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World Bank - Moldova: moving to a market economy

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title Moldova Moving to a Market Economy World Bank Country Study - photo 1

title:Moldova : Moving to a Market Economy World Bank Country Study, 0253-2123
author:
publisher:World Bank
isbn10 | asin:0821327763
print isbn13:9780821327760
ebook isbn13:9780585232416
language:English
subjectMoldova--Economic policy--1991- , Moldova--Economic conditions--1991-
publication date:1994
lcc:HC340.18.M65 1994eb
ddc:338.947/75
subject:Moldova--Economic policy--1991- , Moldova--Economic conditions--1991-
Page i
A World Bank Country Study
Moldova
Moving to a Market Economy
The World Bank
Washington, D.C.
Page ii
Copyright 1994
The International Bank for Reconstruction
and Development/THE WORLD BANK
1818 H Street, N.W.
Washington, D.C. 20433, U.S.A.
All rights reserved
Manufactured in the United States of America
First printing March 1994
World Bank Country Studies are among the many reports originally prepared for internal use as part of the continuing analysis by the Bank of the economic and related conditions of its developing member countries and of its dialogues with the governments. Some of the reports are published in this series with the least possible delay for the use of governments and the academic, business and financial, and development communities. The typescript of this paper therefore has not been prepared in accordance with the procedures appropriate to formal printed texts, and the World Bank accepts no responsibility for errors. Some sources cited in this paper may be informal documents that are not readily available.
The World Bank does not guarantee the accuracy of the data included in this publication and accepts no responsibility whatsoever for any consequence of their use. The boundaries, colors, denominations, and other information shown on any map in this volume do not imply on the part of the World Bank Group any judgment on the legal status of any territory or the endorsement or acceptance of such boundaries.
The material in this publication is copyrighted. Requests for permission to reproduce portions of it should be sent to the Office of the Publisher at the address shown in the copyright notice above. The World Bank encourages dissemination of its work and will normally give permission promptly and, when the reproduction is for noncommercial purposes, without asking a fee. Permission to copy portions for classroom use is granted through the Copyright Clearance Center, Inc., Suite 910, 222 Rosewood Drive, Danvers, Massachusetts 01923, U.S.A.
The complete backlist of publications from the World Bank is shown in the annual Index of Publications, which contains an alphabetical title list (with full ordering information) and indexes of subjects, authors, and countries and regions. The latest edition is available free of charge from the Distribution Unit, Office of the Publisher, The World Bank, 1818 H Street, N.W., Washington, D.C. 20433, U.S.A., or from Publications, The World Bank, 66, avenue d'Ina, 75116 Paris, France.
ISSN: 0253-2123
Library of Congress Cataloging-in-Publication Data
Moldova : moving to a market economy.
p. cm. (A World Bank country study ISSN 0253-2123)
"This report is based on the findings of an October 1992 mission
led by Costas Michalopoulos and of subsequent missions led by
Jonathan Walters"p. iii.
ISBN 0-8213-2776-3
1. MoldovaEconomic policy1991- 2. MoldovaEconomic
conditions1991- I. International Bank for Reconstruction and
Development. II. Series.
HC340.18.M65 1994
338.947'75dc20 94-848
CIP
Page iii
Contents
Acknowledgments
v
Currency Equivalents
vi
Acronyms and Abbreviations
vii
Executive Summary
ix
Introduction
1
Chapter 1: The Evolving Economic Crisis
3
Picture 2
The development of the Moldovan economy before 1990
3
Picture 3
The nature of the shocks in 1991 and 1992
5
Picture 4
Output
5
Picture 5
Trade
7
Picture 6
Price and wage developments
9
Picture 7
Monetary developments
11
Picture 8
The consequences of the shocks for output, incomes, and macro-stability
12
Chapter 2: The Response to the Need for Structural Transformation
15
Picture 9
The Government's reform program: initial measures
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