Budget Deficit, Market Disequilibrium and Soviet Economic Reforms

Abstract

Problems within the present fiscal and monetary system of the USSR are examined (a) as a function of both past systemic shortcomings and of fiscal developments caused by economic reforms enacted to date and (b) as obstacles that must be overcome during the transition to a more market-oriented economy. Major sources of disequilibrium in the present economy are identified through analysis of Soviet budgets from both the reform and pre-reform periods, and a concluding section presents policy options for the period of transition to a more radical economic reform. Journal of Economic Literature, Classification Numbers: 027, 124, 300.