The Lao People's Democratic Republic - Systemic Transformation and Adjustment

Business & Finance, Economics, Public Finance, Finance & Investing, Banks & Banking, Macroeconomics
Cover of the book The Lao People's Democratic Republic - Systemic Transformation and Adjustment by Ichiro Mr. Otani, Chi Mr. Pham, INTERNATIONAL MONETARY FUND
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Author: Ichiro Mr. Otani, Chi Mr. Pham ISBN: 9781452735856
Publisher: INTERNATIONAL MONETARY FUND Publication: May 28, 1996
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: Ichiro Mr. Otani, Chi Mr. Pham
ISBN: 9781452735856
Publisher: INTERNATIONAL MONETARY FUND
Publication: May 28, 1996
Imprint: INTERNATIONAL MONETARY FUND
Language: English

Faced with a steadily worsening economy, the government of the Lao Peoples Democratic Republic took its first steps toward reforming its centrally planned economy in December 1979. The reform process gathered momentum with the introduction of the New Economic Mechanism in 1985, as the authorities began a series of far-reaching policy reforms in virtually all economic areas. This paper provides a much-needed overview of the Lao P.D.R.'s experience with systemic transformation and macroeconomic adjustments in recent years and highlights challenges that the country is likely to face in the coming years.

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Faced with a steadily worsening economy, the government of the Lao Peoples Democratic Republic took its first steps toward reforming its centrally planned economy in December 1979. The reform process gathered momentum with the introduction of the New Economic Mechanism in 1985, as the authorities began a series of far-reaching policy reforms in virtually all economic areas. This paper provides a much-needed overview of the Lao P.D.R.'s experience with systemic transformation and macroeconomic adjustments in recent years and highlights challenges that the country is likely to face in the coming years.

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