The unprecedented economic, political, and social changes that have
followed the east European revolutions of late 1989 rank among the
epochal events of the twentieth century. The end of the cold war
has opened up far-reaching possibilities for international economic
cooperation, which may be able to stimulate economic growth in the
region and revive interactions with the global economy. This
collection of essays comes to grips with the problems of
repositioning the new Eastern economies in the global arena. The
contributors address four main themes: freeing up foreign economic
sectors through trade liberalization, currency convertibility, and
greater access to markets for international capital; the
disintegration of the trade payment, pricing, and settlements
systems based on the transferable ruble; active participation in
the key organizations entrusted with international financial,
monetary, and trading regimes; and strategies for using
international economic assistance to alleviate adjustment costs
with ongoing transition policies
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