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The Macroeconomics of Transition - Developments in East Central Europe (Hardcover, New)
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The Macroeconomics of Transition - Developments in East Central Europe (Hardcover, New)
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How successful has the transition to market economies proved in
East-Central Europe? The decision by the East European countries to
move to market economies was accompanied by much hypothesizing and
expounding of economic theories. However, now that the initial
euphoria has passed, it is time for a rational assessment of this
transition and the success of those theories in practice. Since the
more economically advance countries are situated in East Central
Europe, Professor Winieck and Andrzej Kondratowicz have focused
their study on Czechoslovakia, Hungary, Poland and (former)
Yugoslavia. The authors present a systematic account of
macroeconomic developments and institutional changes in each of the
countries up to the summer of 1991 and the collapse of, what was,
Yugoslavia. They assess progress, dealing with the determinants of
output, macro policies, wage, price and employment issues and the
external balance. The authors give particular importance to
institutional changes, since these have been particularly
significant in the shaping of the macroeconomy. Each country report
is preceded by a summary of common features of the transition and
is followed by an analysis of theoretica
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