Eastern Europe in Crisis and the Way Out. Palgrave Macmillan, Macmillan Distribution (MDL) [distributor],. McClelland & Stewart Inc [distributor],. Booksite Afrika [distributor],. Pan Macmillan South Africa [distributor],. Palgrave (Macmillan's global aca

In this volume practitioners and theorists from East and West assess the results of four years of transformation in Eastern Europe. In a general assessment of the stabilisation policies pursued, some authors take a critical view of the 'conventional' monetary and fiscal restrictive programmes which have helped to bring down inflation and to introduce elements of the market economy, but have also left the economies concerned with heavily reduced output and real incomes. An evolutionary strategy of structural transformation, and demand management should play a primary role in recovery from the 'transformational recession'. Further issues discussed are the reform of the financial sector; liberalisation of foreign trade; privatisation and restructuring; and the social aspects of transformation. Front Matter....Pages i-ix Editor’s Introduction....Pages 1-12 Economic Transformation in the East: A Critical Appraisal of Its Development and Suggestions for a Possible Way Out....Pages 13-28 Transformational Recession: The Example of Hungary....Pages 29-77 Lessons for the East from Stabilisation in the West....Pages 78-122 The Banking System in Russia....Pages 123-137 Money Demand, Bank Credit and Economic Performance in the Former Socialist Economies....Pages 138-179 Western Financial Markets Offer Choices for the East....Pages 180-200 Trade Relations Of The Eastern European Countries....Pages 201-228 Foreign Trade in the Process of Economic Transformation; With Special Reference to Czech Experience....Pages 229-242 The Transformation of East-West Trade Relations....Pages 243-267 Who will Own “Nobody’S Property”? Privatisation Problems in Russia....Pages 269-280 A Progress Report on Privatisation in Eastern Europe....Pages 281-310 Restructuring, Privatisation and Industrial Policy Making....Pages 311-342 Potential Lessons from Austria for the Restructuring Process in East Europe....Pages 343-367 Social Costs and Social Goals of Transformation Policy: Polish Experience....Pages 369-381 Social Aspects of Economic Reform in Russia....Pages 382-396 The Concept of Financial Programming Confronted with Russian Experience....Pages 397-411 In Quest of Lost Stabilisation: Reflections on Hungary in 1993....Pages 412-421 Transition in Poland....Pages 422-450 Systemic Changes in the Czech Economy....Pages 451-465 The Transformation Process in the New Slovak Republic....Pages 466-471 Slovenia: A New State and Its Prospects....Pages 472-489 The Croatian Economy in Transition....Pages 490-510 Back Matter....Pages 511-524 In this volume practitioners and theorists from East and West assess the results of four years of transformation in Eastern Europe. They examine the stabilization policies pursued such as the monetary and fiscal restrictive programmes, as well as privatization and the social impact of change.