This volume provides an up-to-date account of how the process of economic transition in Eastern Europe is unfolding from the point of view of Eastern European economists assessing their native economies. The authors have personally experienced the frustrations of the previous Stalinist system of central planning and public ownership, as well as the difficulties and pitfalls of designing new systems based on markets and private ownership. The book focuses on the three countries of Eastern Europe leading the reform efforts--Czechoslovakia, Hungary, and Poland--and points out similarities and differences in their reform strategies.
Although the stories of economic change in Eastern Europe have dominated news headlines, the real challenges of designing and maintaining viable economies are just beginning. The analysis in this volume will be of interest to those in the academic and policy-making communities.
| Figures and Tables | ||
| Introduction and Overview | ||
| Pt. I | The Transfer of Property Rights | |
| 1 | The Case for Privatization in Czechoslovakia and other Centrally Planned Economies | 3 |
| 2 | The Role of Property Rights in the Transition in Hungary | 10 |
| 3 | Poland's Property Rights Problem in the Transition | 26 |
| 4 | Transition into a Market Economy: The Road to Privatization in Yugoslavia | 41 |
| Pt. II | Macroeconomic Issues | |
| 5 | The Unexpected Consequences of Traditional Macro Stabilization Policy During Transition: The Case of Poland | 63 |
| 6 | Macroeconomic Policy and Institutions in the Czechoslovak Transition: The Starting Point and First Steps | 75 |
| 7 | The Transformation of the Czechoslovak Economy and Unemployment | 94 |
| 8 | Polish Trade Adjustment Under Convertibility | 106 |
| Pt. III | Microeconomic Issues | |
| 9 | Small Is Also Beautiful in the East: The Boom of Small Ventures in Hungary | 127 |
| 10 | Polish Firms in Transition | 152 |
| 11 | The Role of Peasants in the Systemic Transformation of the Polish Economy, 1944-1990 | 167 |
| Bibliography | 179 | |
| Index | 185 | |
| About the Contributors | 191 |
Overview
This volume provides an up-to-date account of how the process of economic transition in Eastern Europe is unfolding from the point of view of Eastern European economists assessing their native economies. The authors have personally experienced the frustrations of the previous Stalinist system of central planning and public ownership, as well as the difficulties and pitfalls of designing new systems based on markets and private ownership. The book focuses on the three countries of Eastern Europe leading the reform...