Building a New Europe : Volume 2: Eastern Europe's Transition to a Market Economy

Building the 'New Europe' is at the core of the new international economic and political initiatives leading the world through the nineties and toward the twenty-first century. This challenge rests on dual processes: on the one hand, the European Community-wide single market and monetary integration; and, on the other, the East European transition to the market place and integration with Western economies. The volume is divided into two parts. The first section includes essays on the general and specific topics linked to the transitions to a market economy and to a pluralist political system. The second section comprises essays on individual countries, such as Hungary, Poland, Yugoslavia and the Republics of the former Soviet Union. Front Matter....Pages 1-16 Front Matter....Pages 17-17 “Rerum Novarum” Inverted: Abuses of Socialism and Illusions of Capitalism....Pages 19-31 From «Envy and Distrust» to «Trust and Ambition» Eastern Europe’s Problems: How to Solve it and Why it May Take Long....Pages 33-58 On the Economic Reforms in Eastern Europe: a Theoretical Viewpoint....Pages 59-76 No Free Lunch, No Free Market, No “One” East European Economy: Thoughts on the Transition to a Market Economy....Pages 77-84 Costs of Transition That Are Not Costs: On Non-Welfare-Reducing Output Fall....Pages 85-94 Liberalizing Foreign Trade in a Socialist Economy: The Problem of Negative Value-Added....Pages 95-120 Post-Reform East and West: Capital Accumulation and the Labor Mobility Constraint....Pages 121-144 The Effects of the Eastern European Countries’ Economic Reform on the Western Industrial Economies: a Macroeconomic Approach....Pages 145-187 Debt Relief and Eastern Europe: Why Poland is a Special Case....Pages 189-230 The Experience of West European Public Enterprises for the Transition of Eastern European Economies....Pages 231-262 Front Matter....Pages 263-263 Transition to a Market Economy: the Experience of Hungary....Pages 265-274 The Development of the Social Market Economy in Hungary and the Opportunities Resulting from Future Entry into the European Community....Pages 275-287 Inflation Stabilization in Poland: A Year After....Pages 289-330 The Problems of Transition from a Socialist to a Market Economy in Yugoslavia....Pages 331-344 Planning Authority and Enterprise in the Soviet Transition: A Principal-Agent Model....Pages 345-365 Interconnections Between World Markets and Soviet Economy....Pages 367-375 The Soviet Union on the Road to Market Economy....Pages 377-386 Political Change and Economic Evolution in the Soviet Union....Pages 387-392 Back Matter....Pages 393-397 Single market and monetary integration of EEC countries, Germany's reunification and Central and East Europe's move towards the marketplace are redesigning the european political and economic spheres and creating great opportunities and challenges for Europe and the rest of the world. v. 1. The single market and monetary unification v. 2. Eastern Europe's transition to a market economy.