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

Abstract

Preface. Abbreviations. Introduction. Part I: Main Successes and Failures in the Transition Strategy. 1. Transition Approaches in Retrospect S. Zecchini. 2. The Transition in Eastern Europe and the Former Soviet Union: Some Strategic Lessons from the Experience of 25 Countries over Six Years N. Stern. 3. Transition to Date: A Comparative Overview M. de Melo, A. Gelb. 4. From Transition to Market: Evidence and Growth Prospects S. Fischer, et al. 5. Lessons to be Drawn from Main Mistakes in the Transition Strategy K. Laski, A. Bhaduri. 6. Adjustment Without Recession: A Case Study of Hungarian Stabilization J. Kornai. 7. The Interplay Between Economic and Political Transition L. Balcerowicz. 8. Political Constraints and the Transition Experience G. Roland. 9. Comments. 10. General Discussion. 11. Policy Conclusions. Part II: Enterprise Restructuring and Private Sector Development. 1. Comparing Two Great Depressions: 1929-33 to 1989-93 J. Rostowski. 2. Restructuring Outcomes and the Evolution of Ownership Patterns in Central and Eastern Europe P. Aghion, W. Carlin. 3. Corporate Governance and the Political Effects of Privatisation R. Frydman, A. Rapaczynski. 4. Large Privatisation, Restructuring and Foreign Direct Investment G. Hunya. 5. The Evolution of Bank Credit Quality in Romania Since 1991 O.V. Carare, E. Perotti. 6. Comments. 7. General Discussion. 8. Policy Conclusions. Part III:Unemployment and the Reform of Social Policies. 1. Unemployment, Restructuring and the Pace of Transition S. Commander, A. Tolstopiatenko. 2. Transformation as a Demographic Crisis M. Ellman. 3. Labour Market Policy and the Reallocation of Labour Across Sectors R. Jackman, C. Pauna. 4. Central and Eastern European Labour Markets in Transition M. Gora. 5. Reforming Tax and Benefit Systems in Central Europe: Lessons from Hungary D.M. Newbery. 6. Comments. 7. General Discussion. 8. Policy Conclusions. Part IV: External Policies. 1. Currency Convertibility in Transforming Economies: Was it a Mistake? R.N. Cooper. 2. Exchange Rate Policies in Post-Communist Economies D. Rostai. 3. Access to Western Markets, and Eastern Effort Levels E.E. Leamer. 4. Interrelations Between Subregional Co-Operation and EU Enlargement A. Inotai. 5. Foreign Direct Investment in Eastern Europe and the Former Soviet Union: Results from a Survey of Investors H.-P. Lankes, A.J. Venables. 6. Comments. 7. General Discussion. 8. Policy Conclusions.