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Lessons from the Economic Transition : Central and Eastern Europe in the 1990s - Salvatore Zecchini

Lessons from the Economic Transition

Central and Eastern Europe in the 1990s

By: Salvatore Zecchini (Editor)

Hardcover Published: 28th February 1997
ISBN: 9780792398523
Number Of Pages: 590

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An attentive reader embarking on this book might wonder what "the" economic transition to which the title refers might be. In this century almost all countries have gone through periods of economic transition; but which period of economic history can claim to embody the notion or to represent the era of "the" transition? Definitely, no country or group of countries has experienced anything comparable to the economic upheavals that the fall of communism has brought about in a large portion of the world in just three years (1989 to 1991). No other "transition" to date has prompted more interest and more studies among economists, academics and policy-makers than has the transformation of centrally planned economies into market-based systems. It is this transformation that has come to define "the" transition. Early in the transformation process (in November 1990), with the support of the Centre for Co-operation with the Economies in Transition (CCET), I launched a conference to examine the challenges faced by these countries. About six years have gone by and a new economic landscape has emerged in that part of the world. The difficulties in transforming these economies have exceeded all expectations, and economic performances have varied considerably across countries. The time has come, therefore, to make a first evaluation of progress and problems, with a view to extracting useful policy lessons to guide policy-makers in successfully completing the transition in the near future.

Main successes and failures in the transition strategy
Transition approaches in retrospectp. 1
The transition in Eastern Europe and the former Soviet Union: some strategic lessons from the experience of 25 countries over six yearsp. 35
Transition to date: a comparative overviewp. 59
From transition to market: evidence and growth prospectsp. 79
Lessons to be drawn from main mistakes in the transition strategyp. 103
Adjustment without recession: a case study of Hungarian stabilizationp. 123
The interplay between economic and political transitionp. 153
Political constraints and the transition experiencep. 169
Commentsp. 189
Enterprise restructuring and private sector development
Comparing two Great Depressions: 1929-33 to 1989-93p. 225
Restructuring outcomes and the evolution of ownership patterns in Central and Eastern Europep. 241
Corporate governance and the political effects of privatisationp. 263
Large privatisation, restructuring and foreign direct investmentp. 275
The evolution of bank credit quality in Romania since 1991p. 301
Commentsp. 315
Unemployment and the reform of social policies
Unemployment, restructuring and the pace of transitionp. 331
Transformation as a demographic crisisp. 351
Labour market policy and the reallocation of labour across sectorsp. 373
Central and Eastern European labour markets in transitionp. 393
Reforming tax and benefit systems in Central Europe: lessons from Hungaryp. 413
Commentsp. 445
External policies
Currency convertibility in transforming economies: was it a mistake?p. 463
Exchange rate policies in post-communist economiesp. 481
Access to Western markets, and Eastern effort levelsp. 503
Interrelations between subregional co-operation and EU enlargementp. 527
Foreign direct investment in Eastern Europe and the former Soviet Union: results from a survey of investorsp. 555
Commentsp. 567
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9780792398523
ISBN-10: 0792398521
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 590
Published: 28th February 1997
Publisher: Springer
Country of Publication: NL
Dimensions (cm): 23.5 x 15.5  x 3.18
Weight (kg): 2.32