The Romanian Economic Reform Program

56 Pages Posted: 15 Feb 2006

Date Written: August 1991


With the start of the process of its transition to a market economy in early 1990, Romania joined the ranks of other reforming Eastern European countries. At the starting point of its reform program, however, Romania was in a deep economic and institutional crisis and had no experience in even modest attempts to reform its economy. This paper outlines the main characteristics of the Romanian economic system before the reform, and presents the evolution of the reform program, as well as its achievements in the first year or so since it was launched.

JEL Classification: P20, P30

Suggested Citation

Demekas, Dimitri G., The Romanian Economic Reform Program (August 1991). Available at SSRN: or

Dimitri G. Demekas (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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