Documente Academic
Documente Profesional
Documente Cultură
14000
1 8 00 0
16 88 1
12210
1 4 00 0
10000
1 0 00 0
5115
6 00 0 3 7 06 2 00 0 24 8 0 19 50 Hu n ga r y
6 47 1
1990 Spa in
1 99 0 Au s t r ia
16000 12000
15732
12000
10950
8000
8000 4000 854 0 1950 2003 854 1127
4000 2046 0
3670 2569
1950
2003
Nor t h Kor e a
S ou t h Kor e a
C u ba
C h ile
S Stabilization
reduction of the budget deficit strict control of money supply transition to positive real interest rates wage control
L Liberalization
reduction of state intervention increase in elasticity of supply and of prices removal of restrictions on private economic activity removal of central allocation of goods and resources liberalization of prices removal of most quantitative restrictions on imports and exports unitary exchange rate internal convertibility of currency
I Institutionalization
privatization antitrust/antimonopoly legislation strengthening of central bank independence banking sector reform insurance sector reform tax reform creation of local government social security network reform
The EU Accession
Poland benefited from EU technical and financial assistance prior to joining the Community
The process of accession was charactersied by adopting/negotiating the provisions of acquis communautaire The Community acquis or acquis communautaire, sometimes called the EU acquis, and often shortened to acquis, is the accumulated legislation, legal acts, and court decisions which constitute the body of European Union law.
During the process of the enlargement of the European Union, the acquis was divided into 31 chapters for the purpose of negotiation between the EU and the candidate member states for the fifth enlargement (the ten that joined in 2004 plus Romania and Bulgaria which joined in 2007). These chapters were: 1. 3. 5. 7. 9. 11. 13. 15. 17. 19. Free movement of goods Freedom to provide services Company law Agriculture Transport policy Economic and Monetary Union Social policy and employment Industrial policy 2. 4. 6. 8. 10. 12. 14. 16. 18. 20. 22. 24. 26. 28. 30. Free movement of persons Free movement of capital Competition policy Fisheries Taxation Statistics Energy Small and medium-sized enterprises Education and training Culture and audio-visual policy Environment Cooperation in the field of Justice and Home Affairs External relations Financial control Institutions
Science and research Telecommunication and information technologies 21. Regional policy and coordination of structural instruments Consumers and health protection 25. 27. 29. 31. Customs union Common Foreign and Security Policy (CFSP) Financial and budgetary provisions Others
1200
1000
800
600
400
200
0 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12
Source: IMF
However
Attempts to maintain the dominant role of SEE (state economic entreprises) in some sectors of the national economy Reimposition of restrictions on private business activities and trade (e.g. by Trade Policy Council) Control of agricultural production (esp. rice) perhaps for social reasons Lack of adequate institutionalisation and liberalization within the financial system (restrictions after the bank run of 2003) Asian financial crisis 1997 International sanctions 1997
Myanmar: In the Footsteps of Central-Eastern Europe Polands success: or East Asia? - doubled GDP;
- joined the group of 20 largest economies, OECD (1996) and EU (2004); - significantly increased the standard of living. The model: free market economy, transparent non-discriminatory regulations, few market access barriers East Asia success: historically Japan, South Korea, Taiwan, to some extent Malaysia, Thailand currently - post-socialist China, perhaps Vietnam The model: more interventionist, regulatory economic regimes with various non-tariff barriers focused on domestic business development
The Mixture of the Models: The Case of Myanmar? The Consequences for the Investment Climate
Myanmar will use its attractiveness to attract foreign investment. Due to its relative underdevelopment and potential untapped resources, foreign investors will have a broad pallet of economic sectors to choose from; Myanmar authorities will continue to support foreing investment related activities due to the countrys development necessities; However, Myanmar will restrict access to certain sectors deemed important, strategic, etc., The authorities will offer preferences to domestic companies; The state will continue to be involved in the economy through regulations, through state-owned companies, through state bureaucracy, as well as through privately-owned companies.