Copy For Citation
Çatalbaş N., Yıldırım Z.
2nd International Symposium on Public Finance: Recent Fiscal Problems in Transition Economics, Manas Üniversitesi, Bişkek, 24/10/2007, Bishkek, Kyrgyzstan, 24 - 28 October 2007
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Publication Type:
Conference Paper / Summary Text
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City:
Bishkek
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Country:
Kyrgyzstan
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Anadolu University Affiliated:
Yes
Abstract
Following the demolition of the
Berlin Wall and the collapse of the Union of Soviet Socialist Republics,
countries governed by central planned economy preferred market economy. This
preference led to a transition process for economies of countries. The
countries in this process are called “transition economies”. The countries in
the transition process faced various macro-economical problems due to such structural
factors as social, political and economical disagreements. This study focuses on the problem of
budget deficit and on its causes in transition economies. Among the East
European countries, Poland
and, among the Central Asia countries, Kyrgyzstan were
chosen for the study as they represent transition economies. The criterion for
this choice was that both countries play a leading role in their regions as
they have carried out the necessary financial reforms. Among the most important
causes of this problem in transitional economies are financial structural
differences found in two different economical systems. Such factors as the lack
of sources in transition economies, the lack of experiences in market economy,
economical and financial structural problems, and as the increasing and leading
role of the country in the new process cause various economical and financial
problems, especially deficit in the budget.