Central and East European Economies in Transition

Fülszöveg

Praise for Central and East European Economies in Transition
" the most comprehensive account yet of the historic transformation to a market economy being sought by 'the five' (Czechoslovakia, Hungary, Poland, Bulgaria, and Romania), with a useful emphasis on the international dimensions of the transition process. The author argues all too convincingly that Western hesitations and pennypinching risk losing the peace that should have followed its victory in the Cold War."
—John Williamson, Senior Fellow Institute for International Economics
In this volume, a leading Hungarian economist considers the wide range of experiences that Central and East European countries have had during their first two years of economic reform. András Köves pinpoints key differences within the region and identifies common themes—including economic decline, mounting social tension, and political strife.
Within this context, Köves addresses the basic problems of transformation, offering a comparative... Tovább

Fülszöveg

Praise for Central and East European Economies in Transition
" the most comprehensive account yet of the historic transformation to a market economy being sought by 'the five' (Czechoslovakia, Hungary, Poland, Bulgaria, and Romania), with a useful emphasis on the international dimensions of the transition process. The author argues all too convincingly that Western hesitations and pennypinching risk losing the peace that should have followed its victory in the Cold War."
—John Williamson, Senior Fellow Institute for International Economics
In this volume, a leading Hungarian economist considers the wide range of experiences that Central and East European countries have had during their first two years of economic reform. András Köves pinpoints key differences within the region and identifies common themes—including economic decline, mounting social tension, and political strife.
Within this context, Köves addresses the basic problems of transformation, offering a comparative analysis of the various approaches to economic stabilization and liberalization—"shock therapy" versus a more gradual change—as well as exploring the dilemmas of privatization. Because of the complexity of the issues involved in economic transformation, he argues that the mainstream approach that advocates speed as the most important factor of change is misleading.
The book focuses especially on foreign economic policies that—in light of the unprecedented isolationism created by the CMEA—are of particular importance for the delicate transformation process. Responsibility will inevitably fall to the West to create an external environment conducive to internal transition, and Köves contends that in view of recent political developments in and around the region, Western stakes in its political and economic stabilization are much higher than generally believed.
András Köves is deputy general director of research. Institute for Economic and Market Research and Informatics in Budapest, Hungary.
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