The Soviet Union and Eastern Europe are moving away from a
centrally planned economy toward integration within the global
economy. How did this transition begin? Is this an aim which all
the countries can afford? What conditions are to be met so that the
countries will achieve a level of development comparable with the
average level of their industrial partners? In this 1992 volume,
leading international political economists from both the East and
West provide an in-depth analysis of these questions. The
contributors assess how the transition to the market requires
liberalizing foreign trade, introducing convertibility, and
transforming property structures, all of which are also part of the
ongoing domestic reform. They also examine how these countries
overcome their development lag and implement a restructuring
policy.
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