1st Edition
The Transition to the Market Economy Critical Perspectives on the World Economy
This collection draws together the most significant writings on the economics of transition. Although there are a wide range of examples from different countries and industries, the focus is on analysis of the key issues. These include:
* macroeconomics and stabilization
* liberalization and the establishment of markets
* property rights and the legal framework
* reform of banking and finance, agriculture, and the trading system
* the functioning of labour markets
This collection draws on material from an enormous range of sources. It includes articles by Barry Eichengreen, Oliver Blanchard, Stanley Fischer and Janos Kornai.
Preface
VOLUME I
Introductory overview by P. G. Hare and J R. Davis
Part I Political economy of transition
- On the speed of transition in Central Europe
- Lessons of the first four years of systemic change in
- Common fallacies in the debate on the economic
- Transition in Poland
- J Blanchard
- Output collapse in Eastern Europe: the role of credit
- Interventionist pressures on a policy maker during the
- Dabrowski
- Transformation, depression, and economics: some lessons
- Ellman
- What is shock therapy? What did it do in Poland and Russia?
- Transformation traps
P. Aghion and 0. J. Blanchard
Eastern Europe
A. Aslund
transition in Central and Eastern Europe
L. Balcerowicz
G. A. Calvo and F. Coricelli
transition to economic freedom (personal experience)
P. Murrell
- Portes
- The role of political constraints in transition strategies
- Why did output fall in Eastern Europe?
- Stabilization and the macroeconomics of transition - how
- Bruno
- Stabilization in Poland
- On the credibility of 'big bang' programs: a note on wage
- Stabilization and economic reform in Russia
G. Roland
J Williamson
Part II Macroeconomics and stabilisation
different is Eastern Europe?
G. A. Calvo and F. Coricelli
claims and soft budget constraints in economies in transition
F. Coricelli and G. M. Milesi-Ferretti
- Fischer
- Fiscal policy during the transition in Eastern Europe
- Transformational recession: the main causes
- The applicability of standard reform packages to
- A theory of shortage in Socialist economies based on the
- From plan to market: on the nature of the transformation
- Knowledge, transaction costs and the creation of markets in
- Legal foundations of a market economy
- Market-oriented reform legislation in the independent states
- Competition policy in Russia during and after privatization
- The behaviour of state firms in Eastern Europe,
- The economics of enterprise restructuring in Central and
- Political dimensions of privatization in Eastern Europe
- Privatization policies in Central and Eastern Europe
- Economic transition and privatization: the issues
- Insiders and the state: overview of responses to agency
- Triggering evolution: the case for a breakthrough in
- Restructuring and privatizing electric utilities in Eastern
- Transforming state enterprises in Poland: evidence on
- Privatization in Eastern Europe: irreversibility and critical
R.H. Gordon
J. Kornai
Eastern Europe
J. Winiecki
VOLUME II
Part III Liberalisation and markets
"soft budget constraint"
Y. Qian
crisis
H. Schmieding
post-Socialist economies
W Swaan
Part IV Property rights and the legal framework for transition economies
European Economy
European Economy
P. L. Joskow, R. Schmalensee and N Tsukanova
Part V Privatisation
pre-privatisation
P. Aghion, 0. 1 Blanchard and R. Burgess
Eastern Europe
P. Aghion, 0. J. Blanchard and W Carlin
J. Batt
P. Bolton and G. Roland
S. Estrin
problems in East European privatizations
R. Frydman and A. Rapaczynski
privatization
I. Grosfeld
Europe
D. M. Newbery
adjustment by manufacturing firms
B. Pinto, M. Belka and S. Krajewski
mass effects
G. Roland and T. Verdier
VOLUME III
Part VI Banking and finance
- Balance sheet restructuring and privatisation of the banks
- Financial reform in Eastern Europe: progress with the
- Bank reform and behavior in Central Europe
- Banking reform in Central and Eastern Europe
- Needed mechanisms of corporate governance and finance
- Enterprise debt and financial restructuring in Central and
- An innovatory package for financial sector reforms in
- Steinherr
- Eastern Europe's experience with banking reform: is there a
- Thorne
- Enterprise reform in Eastern Europe
- The role of international financial institutions in the
- Structural adjustment and international trade in Eastern
- Berg and J Sachs
- A payments mechanism for the former Soviet Union: is the
- Trade with Eastern Europe
- The international competitiveness of industries in Bulgaria, Czechoslovakia, Hungary, and Poland
- Trade liberalization with Eastern nations. How sensitive?
- The impact of systemic transition on the European
- EC trade with Eastern Europe
- Intersectoral changes in former Socialist economies:
- The CAP and Central and Eastern Europe
- Buckwell and S. Tangermann
- Domestic and trade policy for Central and East European agriculture
- Why collectivization of agriculture in Socialist countries
- 'Transitional' unemployment
- Unemployment, labour markets and structural change in
- Economic restructuring, unemployment, and growth in a
- Economic policy and employment in the transition economies of Central and Eastern Europe: what have we learned?
H. J Blommestein and J R. Lange
wrong model
J Corbett and C. Mayer
P. Dittus
European Bank for Reconstruction and Development
in Eastern Europe
R. Frydman, E. S. Phelps, A. Rapaczynski and A. Shleifer
Eastern Europe
D. Begg and R. Portes
Eastern European countries
role for banks in the transition?
S. van Wijnbergen
transition process
S. Zecchini
Part VII Trade
Europe: the case of Poland
EPU a relevant precedent?
B. Eichengreen
C. B. Hamilton and L. A. Winters
G. Hughes and P. Hare
D. Neven
Community
D. M. Nuti
J Rollo and A. Smith
VOLUME IV
Part VIII Agriculture
distinguishing initial from longer-term responses
K. Anderson
L. Karp and S. Stefanou
has failed: a transaction cost approach
G. Schmitt
Part IX Labour markets
T. Boeri
Eastern Europe
M. Burda
transition economy
B. Chadha, F. Coricelli and K. Krajnyak
R. Jackman
Biography
Paul G. Hare is Professor of Economics at Heriot-Watt University and Director of the Centre for Economic Reform and Transformation. He also edits Economics of Transition for the European Bank for Reconstruction and Development.
Junior R. Davis is Research Associate at Heriot-Watt University. He has written several papers on economic adjustment in Eastern Europe and the former Soviet Union.