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Suggestions about how trade and payments can be arranged on an interm basis among the countries of the Council of Mutual Economic Assistance and the USSR now that the CMEA has collapsed.
Western Europe will be the major trading partner of the Eastern European and former Soviet economies, but their trade with Japan, North America, and developing countries will also expand. Eastern Europe's greater access to Western markets may conflict with the export interests of other developing countries.
The conference on "Russia and East Europe in Transition," held at Middlebury College in May 1994 under the auspices of the Center for Russian and East European Studies, provided the impetus for this volume. The two-day gathering was made possible by a Title VI grant from the U.S. Department of Education and the Jessica Swift Endowed Lecture Fund of Middlebury College, for which we are most grateful. Apart from the contributors to this volume, the conference participants included: George Bellerose, Raymond E. Benson, Valery Chalidze, Michael Claudon, David Colander, Guntram H. Herb, Lars Lib, Tamar Mayer, Noah M.J. Pickus, Sunder Ramaswamy, David A. Rosenberg, and Mitchell Smith. Acting as discussants, panel chairs, or interested participants, their efforts, individually and collectively, have made this a better book and their contribution to this project is gratefully acknowledged.
This book is designed as a modest contribution to the ongoing deliberations about how to ease the fairly tight constraints on the external payments of many countries of the eastern part of Europe. In the fIrst instance, this inquiry is addressed to those that have embarked on wide-ranging systemwide reforms. External constraints have been markedly hampering the introduction of market oriented economic mutations, thereby raising the cost of transition far above levels expected at the outset of the present wave of uniquely restructuring the countries involved. I explore here several angles of this discussion. But three stand out. One is the disintegration of the postwar framework for economic cooperation in that part of the world. Another is the disarray brought about by incisive economic transformations in the area. Finally, various national, regional, and international interest groups are at work there, hoping to mold somehow the drift of the reform, or at least key components thereof, in their own "image. " In the process it is often forgotten, as Ralf Dahrendorf (1990, p. 41) so pointedly remarked that "[ a]ll systems mean serfdom, including the . natural' system of a total . market order' in which no one tries to do anything other than guard certain rules of the game discovered by a mysterious sect of economic advisers.
The still chaotic states of the former Soviet Union, a growing China, and the divergent nations of Eastern Europe are striving to radically transform their economies. In their quest to become more integrated with the global economy, they are making historic changes to move toward market-based, private-enterprise systems. In this book, Barry P. Bosworth and Gur Ofer provide a balanced assessment of the progress of integration among the formerly centrally planned economies. So far, the results of the reform process range from amazing success in China to economic and political disarray in the states of the former Soviet Union. The authors outline the key issues that any successful reform program must address and the sequence in which these reforms should take place. A volume of Brookings' Integrating National Economies Series
"This book will be a valuable addition to the existing literature in the area, appealing to academics and researchers in European and transition studies."--BOOK JACKET.