The Israeli Economy, 1985-1998: From Government Intervention to Market EconomicsAvi Ben-Basaṭ MIT Press, 2002 - 529 עמודים From 1973 to 1985, the Israeli economy suffered a deep crisis: the growth rate declined, foreign debt increased, and inflation soared to annual rates of a few hundred percent. This book analyzes the structural reforms initiated between 1985 and 1998 that transformed the Israeli economy from one of heavy government intervention to a market-oriented, open economy. The reforms introduced fiscal discipline, increased central bank independence, and reduced government intervention in capital, labor, and financial markets. Also, competition was fostered in monopoly-controlled markets. The results of these reforms include, among others: a decline from 77 percent to 55 percent in the government expenditure portion of the gross domestic product, a decline from 65 percent of credit volume to 5 percent in government involvement in directing credit, and almost complete elimination of the tight control of the foreign-exchange market. These reforms, together with the mass migration into Israel from the former Soviet Union and the peace process with Israelrsquo;s neighbors, accelerated economic growth, particularly in the business sector. Topics discussed include the impact of macroeconomic policy and structural reforms on growth, employment, inflation, balance of payments, and the rapid expansion of high-tech industry. The book also examines the consequent increase in income inequality and related problems. |
תוכן
The Obstacle Course to a Market Economy in Israel | 1 |
Structural Changes in the Israeli Public UtilitiesThe Reform That | 10 |
Reducing the Relative Size of Government in Israel after 1985 | 61 |
Instruments and the Conduct of Monetary | 85 |
The Disinflation Process in Israel in the Past Decade | 129 |
Israeli Inflation from an International Perspective | 157 |
Reform in the Israeli Financial System and the Flow of Funds | 189 |
Pension Fund Reform | 221 |
The ImportLiberalization and Abolition of Devaluation Substitutes | 281 |
Integration of Immigrants from the Former Soviet Union in the Israeli | 349 |
The Flexibility of the Israeli Labor Market | 379 |
Capital Accumulation Productivity and Growth in the Israeli | 423 |
Structural Change and the Emergence of Israels HighTech Sector | 445 |
The Rise of Earning Inequality | 485 |
519 | |
Liberalization in the Capital Account of the Balance of Payments | 243 |
מהדורות אחרות - הצג הכל
The Israeli Economy, 1985-1998: From Government Intervention to Market Economics <span dir=ltr>AVI Ben-Bassat</span> אין תצוגה מקדימה זמינה - 2002 |
The Israeli Economy, 1985-1998: From Government Intervention to Market Economics <span dir=ltr>Avi Ben-Basaṭ</span> אין תצוגה מקדימה זמינה - 2002 |
מונחים וביטויים נפוצים
adjustment annual assets average wage bank credit Bank of Israel Ben-Bassat bonds budget deficit business sector capital flows capital market coefficient cointegration competition costs countries crisis currency denominated debt decline defense devaluation discount window disinflation dummy economic effect equation equity exchange rate band exchange rate regime expenditure exports factors Figure financial markets firms flexibility foreign currency foreign exchange foreign exchange market gradual Hebrew Histadrut immigrants imports income increase indicator industry inequality inflation rate inflation target institutional investment Israeli economy labor market liberalization long-term lower macroeconomic manufacturing monetary base monetary instruments monetary loan monetary policy nominal anchor pension funds percent of GDP percentage points period Phillips curve productivity public sector ratio real interest rate reduced regression relative result Ribon share short-term sources stabilization program subsidies tion trade trend U.S. dollar unemployment variable workers Yafeh Yosha