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Socialist economies in Eastern Europe have collapsed and em- barked upon market-oriented reforms. The causes of the demise of centrally planned economies are analyzed and the basic challenges of systemic tranformation discussed. Negative income and wealth effects as well as distribution issues make adjustment extremely difficult. The fundamental roles of privatization and foreign investment are adressed. Foreign economic liberalization is considered to be of centralimportance for a growth-oriented adjustment path in a stage of conflict-prone policy and options. Politico-economic aspects of the new European developments in addition to North-South issues are analyzed. Difficult choices await decison-makers in economic policy and the business community in Eastern Europe and in leading market economies.
Europe's economic and political landscape is changing dramatically. The demise of the socialist CMEA and the USSR has allowed eastern European economies to open up and caused Russia/the CIS to engage in a series of difficult reforms which have been supported by the G-7 and the International Monetary Fund plus the World Bank on the one hand, and, on the other hand, by the EU and the EBRD. While some of the (early) Visegrad countries apparently were rather successful in their transition attempt, systemic transition approaches in other countries - Romania and Bulgaria - and, above all, in Russia largely were a failure. Economic hardship, social unrest, political radicalization and the international spreading of criminal activities can be identified as problems from the failure of Russia's first transition attempt. This book deals - from an international perspective - with the postsocialist countries in Europe, i. e. there is a focus on eastern enlargement and on Russia on the one hand, on the other hand the topic is which international influences and effects will emerge from EU enlargement and the Russian transition. While chapter A exclusively deals with major problems of eastern enlargement and the policy options for dealing with this difficult problem, chapter B is devoted to the Russian transformation crisis. There the analysis has a focus on Russia in its own right but also on the potential negative spillovers of a Russian transformation disaster which could occur in the late 1990s.
The EU Single Market and the opening up of Eastern Europe offer a chance to create a truly pan-European market economy. In this respect, many lessons can be learned from early 20th-century developments in Europe. Bearing this in mind, the authors analyze the fragility of international trade, financial investment and foreign relations in and across Europe, from both a contemporary and historical perspective. In a period of increased migration and higher capital mobility, the major OECD countries are faced with such issues as monetary integration, the role of banks and the requirement for structural adjustment. Even more complex is the integration of Russia. Policymakers and the business community alike are presented simultaneously with unique opportunities and unique challenges - with old and new pitfalls looming.
After a decade of Eurosclerosis the EC is moving with renewed economic growth and increasing multinational investment toward a single European market under the heading "Project 1992". The creation of a single EC market creates dynamic adjustment needs and opens up new opportunities for international business in a period of intensified global competition and dramatic politico-economic changes. Since the mid-1980s Eastern Europe is undergoing a radical shift towards market-based economic systems -a difficult and fragile development so far which is further complicated by economic and political unification of Germany in central Europe. After the era of British and, later, U. S. leadership in multinational investment German and Japanese multinational companies are becoming more influential players worldwide. Firms from Germany playa special role because German unification of 1990 implies a bigger home market, but also the diversion of total investment activities towards the greater German home market. While the political divide of Europe has ceased to exist, the economic division is becoming more apparent, and it could indeed transitorily increase because the EC 1992 project primarily generates growth impulses in Western Europe, while systemic transformations in Eastern Europe reduce output growth in the short term.
The design of infrastructure policies is a controversial issue in the transition economies of Eastern Europe, where the dismal state of infrastructure was widely regarded to be one of the major obstacles to economic recovery and sustained growth. With the imminent enlargement of the EU, Christian von Hirschhausen provides a detailed, reflective analysis of the state of infrastructure development in Eastern Europe.
Describing approximately 1,000 books published between 1986 and late 1993, this work provides readers with a selective guide to English-language publications on the subject of Eastern Europe. It covers general studies of the area as well as works on the individual countries of Albania, Bulgaria, the former Czechoslovakia, the former German Democratic Republic (East Germany), Hungary, Poland, Romania, and the former Yugoslavia. In addition to bibliographic and descriptive information, the authors also include citations to book reviews. A companion to their Russia and the Former Soviet Union (Libraries Unlimited, 1994), this volume also focuses on the social sciences and the humanities. As interest about this part of the world continues to build and English-language publications about it proliferate, Burger and Sullivan's guide is a pertinent addition to academic and public library collections.
A world list of books in the English language.
This work examines how the process of privatization is functioning under the systematic transformation of the former socialist CMEA countries. It compares the different strategies being adopted in different countries - for example, in Poland, the use of transformational shock therapy.