Macroeconomic Stabilization in Transition Economies

Explores the policies used in post-socialist countries of Eastern Europe and the former Soviet Union to stop the fall in output after Communism's collapse.

Mario I. Blejer (Edited by), Marko Skreb (Edited by)

9780521025355, Cambridge University Press

Paperback / softback, published 30 March 2006

352 pages, 34 b/w illus. 59 tables
23 x 15.2 x 2.1 cm, 0.531 kg

The essays in this volume explore the special type of policies that were needed in the post-socialist countries of Eastern Europe and the former Soviet Union in order to reduce inflation and to stop the fall in output that followed the collapse of Communism. The book contains a number of general studies that discuss the type of reforms needed and how they condition policies and analyse the aggregate relationship between reducing inflation, implementing structural reforms, and renewing the process of growth. It includes a number of country studies (on the Baltics, Croatia, Hungary, Poland, Slovenia and the Ukraine) about their stabilization experiences. Thus the emerging picture is one of renewal of growth in those countries that proceeded early and with the determination to implement market-oriented reforms and to stabilize their macroeconomy, and of gradual and slow stabilization of output in those countries that entered the process only very recently.

Preface
Introduction: Stabilization after five years of reform: Issues and experiences Mario I. Blejer and Marko Skreb
Part I. General Studies: 1. From plan to market: patterns on transition Martha de Melo, Cedevet Denizer and Alan Gelb
2. The great contractions in transition economies Robert A. Mundell
3. Enterprise credit and stabilization in transition economies: experience with enterprise isolation Marcelo Selowsky and Matthew Vogel
4. Employeeism: corporate governance and employee share ownership in transitional economies D. Mario Nuti
Part II. Country Studies: 5. Inflation and stabilization in Poland, 1990–5 Stanislaw Wellich
6. The political economy of the Hungarian stabilization and austerity program János Kornai
7. Preparation and implementation of a credible stabilization program in the Republic of Croatia Nikica Valentic
8. Exchange rate and prices in a stabilization program: the case of Croatia Velimir Sonje and Marko Skreb
9. Stabilization in Slovenia: from high inflation to excessive inflow of foreign capital Velimir Bole
10. Macroeconomic stabilization in the Baltic States Ardo H. Hansson
11. Economic reform in Ukraine Oleh Havrylyshyn
Part III. Afterword: 12. Economic transformation and the policies for long-term growth Vito Tanzi.
Index.

Subject Areas: Economic systems & structures [KCS]