1st Edition

The Transition to the Market Economy Critical Perspectives on the World Economy

Edited By Junior Davis, Paul Hare
    1720 Pages
    by Routledge

    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

    1. On the speed of transition in Central Europe
    2. P. Aghion and 0. J. Blanchard

    3. Lessons of the first four years of systemic change in
    4. Eastern Europe

      A. Aslund

    5. Common fallacies in the debate on the economic
    6. transition in Central and Eastern Europe

      L. Balcerowicz

    7. Transition in Poland
      1. J Blanchard

    8. Output collapse in Eastern Europe: the role of credit
    9. G. A. Calvo and F. Coricelli

    10. Interventionist pressures on a policy maker during the
    11. transition to economic freedom (personal experience)

      1. Dabrowski

    12. Transformation, depression, and economics: some lessons
      1. Ellman

    13. What is shock therapy? What did it do in Poland and Russia?
    14. P. Murrell

    15. Transformation traps

    1. Portes

    1. The role of political constraints in transition strategies
    2. G. Roland

    3. Why did output fall in Eastern Europe?
    4. J Williamson

      Part II Macroeconomics and stabilisation

    5. Stabilization and the macroeconomics of transition - how
    6. different is Eastern Europe?

      1. Bruno

    7. Stabilization in Poland
    8. G. A. Calvo and F. Coricelli

    9. On the credibility of 'big bang' programs: a note on wage
    10. claims and soft budget constraints in economies in transition

      F. Coricelli and G. M. Milesi-Ferretti

    11. Stabilization and economic reform in Russia

    1. Fischer

    1. Fiscal policy during the transition in Eastern Europe
    2. R.H. Gordon

    3. Transformational recession: the main causes
    4. J. Kornai

    5. The applicability of standard reform packages to
    6. Eastern Europe

      J. Winiecki

      VOLUME II

       

      Part III Liberalisation and markets

    7. A theory of shortage in Socialist economies based on the
    8. "soft budget constraint"

      Y. Qian

    9. From plan to market: on the nature of the transformation
    10. crisis

      H. Schmieding

    11. Knowledge, transaction costs and the creation of markets in
    12. post-Socialist economies

      W Swaan

      Part IV Property rights and the legal framework for transition economies

    13. Legal foundations of a market economy
    14. European Economy

    15. Market-oriented reform legislation in the independent states
    16. European Economy

    17. Competition policy in Russia during and after privatization
    18. P. L. Joskow, R. Schmalensee and N Tsukanova

      Part V Privatisation

    19. The behaviour of state firms in Eastern Europe,
    20. pre-privatisation

      P. Aghion, 0. 1 Blanchard and R. Burgess

    21. The economics of enterprise restructuring in Central and
    22. Eastern Europe

      P. Aghion, 0. J. Blanchard and W Carlin

    23. Political dimensions of privatization in Eastern Europe
    24. J. Batt

    25. Privatization policies in Central and Eastern Europe
    26. P. Bolton and G. Roland

    27. Economic transition and privatization: the issues
    28. S. Estrin

    29. Insiders and the state: overview of responses to agency
    30. problems in East European privatizations

      R. Frydman and A. Rapaczynski

    31. Triggering evolution: the case for a breakthrough in
    32. privatization

      I. Grosfeld

    33. Restructuring and privatizing electric utilities in Eastern
    34. Europe

      D. M. Newbery

    35. Transforming state enterprises in Poland: evidence on
    36. adjustment by manufacturing firms

      B. Pinto, M. Belka and S. Krajewski

    37. Privatization in Eastern Europe: irreversibility and critical

    mass effects

    G. Roland and T. Verdier

    VOLUME III

    Part VI Banking and finance

    1. Balance sheet restructuring and privatisation of the banks
    2. H. J Blommestein and J R. Lange

    3. Financial reform in Eastern Europe: progress with the
    4. wrong model

      J Corbett and C. Mayer

    5. Bank reform and behavior in Central Europe
    6. P. Dittus

    7. Banking reform in Central and Eastern Europe
    8. European Bank for Reconstruction and Development

    9. Needed mechanisms of corporate governance and finance
    10. in Eastern Europe

      R. Frydman, E. S. Phelps, A. Rapaczynski and A. Shleifer

    11. Enterprise debt and financial restructuring in Central and
    12. Eastern Europe

      D. Begg and R. Portes

    13. An innovatory package for financial sector reforms in
    14. Eastern European countries

      1. Steinherr

    15. Eastern Europe's experience with banking reform: is there a
    16. role for banks in the transition?

      1. Thorne

    17. Enterprise reform in Eastern Europe
    18. S. van Wijnbergen

    19. The role of international financial institutions in the
    20. transition process

      S. Zecchini

       

       

       

      Part VII Trade

    21. Structural adjustment and international trade in Eastern
    22. Europe: the case of Poland

      1. Berg and J Sachs

    23. A payments mechanism for the former Soviet Union: is the
    24. EPU a relevant precedent?

      B. Eichengreen

    25. Trade with Eastern Europe
    26. C. B. Hamilton and L. A. Winters

    27. The international competitiveness of industries in Bulgaria, Czechoslovakia, Hungary, and Poland
    28. G. Hughes and P. Hare

    29. Trade liberalization with Eastern nations. How sensitive?
    30. D. Neven

    31. The impact of systemic transition on the European
    32. Community

      D. M. Nuti

    33. EC trade with Eastern Europe
    34. J Rollo and A. Smith

      VOLUME IV

       

      Part VIII Agriculture

    35. Intersectoral changes in former Socialist economies:
    36. distinguishing initial from longer-term responses

      K. Anderson

    37. The CAP and Central and Eastern Europe
      1. Buckwell and S. Tangermann

    38. Domestic and trade policy for Central and East European agriculture
    39. L. Karp and S. Stefanou

    40. Why collectivization of agriculture in Socialist countries
    41. has failed: a transaction cost approach

      G. Schmitt

      Part IX Labour markets

    42. 'Transitional' unemployment
    43. T. Boeri

    44. Unemployment, labour markets and structural change in
    45. Eastern Europe

      M. Burda

    46. Economic restructuring, unemployment, and growth in a
    47. transition economy

      B. Chadha, F. Coricelli and K. Krajnyak

    48. Economic policy and employment in the transition economies of Central and Eastern Europe: what have we learned?

    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.