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

Introductory overview by P. G. Hare and J R. Davis

1. On the speed of transition in Central Europe

P. Aghion and 0. J. Blanchard

2. Lessons of the first four years of systemic change in

Eastern Europe

A. Aslund

3. Common fallacies in the debate on the economic

transition in Central and Eastern Europe

L. Balcerowicz

4. Transition in Poland

1. J Blanchard

5. Output collapse in Eastern Europe: the role of credit

G. A. Calvo and F. Coricelli

6. Interventionist pressures on a policy maker during the

transition to economic freedom (personal experience)

1. Dabrowski

7. Transformation, depression, and economics: some lessons

1. Ellman

8. What is shock therapy? What did it do in Poland and Russia?

P. Murrell

9. Transformation traps

1. Portes

1. The role of political constraints in transition strategies

G. Roland

2. Why did output fall in Eastern Europe?

J Williamson

Part II Macroeconomics and stabilisation

3. Stabilization and the macroeconomics of transition - how

different is Eastern Europe?

1. Bruno

4. Stabilization in Poland

G. A. Calvo and F. Coricelli

5. On the credibility of 'big bang' programs: a note on wage

claims and soft budget constraints in economies in transition

F. Coricelli and G. M. Milesi-Ferretti

6. Stabilization and economic reform in Russia

1. Fischer

1. Fiscal policy during the transition in Eastern Europe

R.H. Gordon

2. Transformational recession: the main causes

J. Kornai

3. The applicability of standard reform packages to

Eastern Europe

J. Winiecki

VOLUME II

　

Part III Liberalisation and markets

4. A theory of shortage in Socialist economies based on the

"soft budget constraint"

Y. Qian

5. From plan to market: on the nature of the transformation

crisis

H. Schmieding

6. Knowledge, transaction costs and the creation of markets in

post-Socialist economies

W Swaan

Part IV Property rights and the legal framework for transition economies

7. Legal foundations of a market economy

European Economy

8. Market-oriented reform legislation in the independent states

European Economy

9. Competition policy in Russia during and after privatization

P. L. Joskow, R. Schmalensee and N Tsukanova

Part V Privatisation

10. The behaviour of state firms in Eastern Europe,

pre-privatisation

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

11. The economics of enterprise restructuring in Central and

Eastern Europe

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

12. Political dimensions of privatization in Eastern Europe

J. Batt

13. Privatization policies in Central and Eastern Europe

P. Bolton and G. Roland

14. Economic transition and privatization: the issues

S. Estrin

15. Insiders and the state: overview of responses to agency

problems in East European privatizations

R. Frydman and A. Rapaczynski

16. Triggering evolution: the case for a breakthrough in

privatization

I. Grosfeld

17. Restructuring and privatizing electric utilities in Eastern

Europe

D. M. Newbery

18. Transforming state enterprises in Poland: evidence on

adjustment by manufacturing firms

B. Pinto, M. Belka and S. Krajewski

19. Privatization in Eastern Europe: irreversibility and critical

mass effects

G. Roland and T. Verdier

1. Balance sheet restructuring and privatisation of the banks

H. J Blommestein and J R. Lange

2. Financial reform in Eastern Europe: progress with the

wrong model

J Corbett and C. Mayer

3. Bank reform and behavior in Central Europe

P. Dittus

4. Banking reform in Central and Eastern Europe

European Bank for Reconstruction and Development

5. Needed mechanisms of corporate governance and finance

in Eastern Europe

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

6. Enterprise debt and financial restructuring in Central and

Eastern Europe

D. Begg and R. Portes

7. An innovatory package for financial sector reforms in

Eastern European countries

1. Steinherr

8. Eastern Europe's experience with banking reform: is there a

role for banks in the transition?

1. Thorne

9. Enterprise reform in Eastern Europe

S. van Wijnbergen

10. The role of international financial institutions in the

transition process

S. Zecchini

　

　

　

Part VII Trade

11. Structural adjustment and international trade in Eastern

Europe: the case of Poland

1. Berg and J Sachs

12. A payments mechanism for the former Soviet Union: is the

EPU a relevant precedent?

B. Eichengreen

13. Trade with Eastern Europe

C. B. Hamilton and L. A. Winters

14. The international competitiveness of industries in Bulgaria, Czechoslovakia, Hungary, and Poland

G. Hughes and P. Hare

15. Trade liberalization with Eastern nations. How sensitive?

D. Neven

16. The impact of systemic transition on the European

Community

D. M. Nuti

17. EC trade with Eastern Europe

J Rollo and A. Smith

VOLUME IV

　

Part VIII Agriculture

18. Intersectoral changes in former Socialist economies:

distinguishing initial from longer-term responses

K. Anderson

19. The CAP and Central and Eastern Europe

1. Buckwell and S. Tangermann

20. Domestic and trade policy for Central and East European agriculture

L. Karp and S. Stefanou

21. Why collectivization of agriculture in Socialist countries

has failed: a transaction cost approach

G. Schmitt

Part IX Labour markets

22. 'Transitional' unemployment

T. Boeri

23. Unemployment, labour markets and structural change in

Eastern Europe

M. Burda

24. Economic restructuring, unemployment, and growth in a

transition economy

B. Chadha, F. Coricelli and K. Krajnyak

25. 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.