The Macroeconomics of transition [electronic resource] : developments in East Central Europe /
edited by Jan Winiecki and Andrzej Kondratowicz.
London ; New York : Routledge, 1993.
ix, 154 p. : ill. ; 23 cm.
More Details
London ; New York : Routledge, 1993.
Licensed for access by U. of T. users.
general note
"A book prepared in collaboration with the Adam Smith Research Centre, Warsaw."
catalogue key
Includes bibliographical references and index.
A Look Inside
Full Text Reviews
Appeared in Choice on 1993-12:
This volume is basically a survey of stabilization and liberalization programs implemented in four Eastern European countries (Czechoslovakia, Hungary, Poland, and Yugoslavia). In particular, the role of institutional settings is analyzed for each country surveyed. The book covers the main issues in the process of macroeconomic transition. However, although the editors address the question of the firsthand applicability of "heterodox" stabilization programs in the unique post-socialist environment, regional reviewers do not. It is hard to avoid the impression that some surveys imply rapid transition, without any reference to the distribution of cost and benefits of hasty transformation. Since two of the surveyed countries ceased to exist as a single entity, at least some parts of the book are outdated. Nevertheless, a nice addition to the rapidly growing literature on the transition toward a market economy. Statistical appendix. Upper-division undergraduate and graduate collections. Z. Suster; University of New Haven
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Choice, December 1993
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Back Cover Copy
How successful has the transition to market economies proved in East-Central Europe? The decision by the East European countries to move to market economies was accompanied by much hypothesising and expounding of economic theories. However, now that the initial euphoria has passed it is time for a rational assessment of this transition and the success of those theories in practice. Since the more economically advanced countries are situated in East Central Europe, Jan Winiecki and Andrzej Kondratowicz have focused their study on Czechoslovakia, Hungary, Poland and (former) Yugoslavia. The authors present a systematic account of macroeconomic developments and institutional changes. They assess progress, dealing with the determinants of output, macro policies, wage, price and employment issues and the external balance.
Main Description
The unprecedented transition to market economies in Eastern Europe has raised questions about the efficacy of the economic theories and hypotheses put in practice there.The Macroeconomics of Transitionoffers a rational assessment of the successes and failures of those theories. The book focuses on the more economically advanced countries of Czechoslovakia, Hungary, Poland and the former Yugoslavia. The authors present a systematic account of macroeconomic developments and institutional changes in each country up to the summer of 1991 and the collapse of Yugoslavia. They assess progress and deal with the determinants of output, macro policies, wage, price and employment issues and the external balance. Each country report is preceded by a summary of common features of the transition and is followed by an analysis of theoretically based expectations of various aspects of the transition. By assessing the accuracy and usefulness of various economic theories in explainingand predicting the region's transition, the book offers lessons for the future and for changes in the less advanced countries of Eastern Europe.
Table of Contents
Prefacep. 1
Regional Surveyp. 5
Czecho-Slovak Surveyp. 43
Hungarian Surveyp. 63
Polish Surveyp. 87
Yugoslav Surveyp. 107
The Transition of Post-Soviet-Type Economies: Expected and Unexpected Developmentsp. 121
Statistical Appendixp. 141
Indexp. 150
Table of Contents provided by Publisher. All Rights Reserved.

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