|
Showing 1 - 9 of
9 matches in All Departments
With the revolutions in Eastern Europe since mid-1989, two main
transformations are envisaged: pluralistic political democracy and
a market economy based largely on private property and
self-interest. One element that straddles those two objectives is
what to do with state-owned property during the transition from a
planned to a market environment. This work looks at the economic
goals that may be pursued in various ways: by taking the state out
of the allocation of the service streams of existing capital assets
in general and state-owned enterprise in particular. It advocates
the urgency of taking politics out of resource allocation. Since
this cannot be done through divestment, particularly for large
assets, it is imperative that alternatives be put in place at the
earliest possible opportunity in the economic transformation. For
petty assets (such housing, small shops, handicrafts and
restaurants) quick divestment is desirable. For other assets, the
principal agent problem will need to be taken care of by investing
management with the task of acting in the interest of real owders.
1. Backdrop to the payments constraint.- 2. Consensual transition
policies.- 3. Regional cooperation and economic reform.- 4.
Backdrop to the proposal to create a payments union.- 5. Toward
convertibility through a payments union.- 6. Organization.- 1. The
prevailing socioeconomic situation.- 1. Problems of changing
Eastern European societies.- 2. The current socioeconomic situation
in Eastern Europe.- 3. The drift of the reform debate.- 4. The
nature of the payments problem.- 5. Shocks of mutating trade and
payment regimes.- 6. Western assistance to combat liquidity
shortage.- 2. The collapse and dissolution of the CMEA.- 1. The
CMEA's demise.- 2. CMEA reform discussions.- 3. Salient obstacles
to buoyant intragroup interactions.- 4. Reforming the trade and
payment regimes.- 5. Balance-of-payments constraints and a payments
union.- 3. Economic union in Eastern Europe.- 1. The outlook for
economic union at this juncture.- 2. The desirability of economic
union.- 3. Theoretical merits of a customs union.- 4. Practical
problems and economic union.- 5. Linking a payments facility with
an economic union.- 6. Key features of a payments union.- 4. Paths
to convertibility.- 1. The global economy at Bretton Woods.- 2. On
currency convertibility.- 3. Possible roads to convertibility.- 4.
Western Europe's return to convertibility.- 5. Marketization,
transition, and convertibility.- 1. The national trade and payment
regimes.- 2. The CMEA trade and payment regimes.- 3. Marketization
and convertibility.- 4. Exchange rates.- 6. Toward a payments union
for Eastern Europe?.- 5. Technical aspects of a payments union.- 1.
Overall conceptualization of the CEPU.- 2. Payments problems and a
regional payments unions.- 3. Technical issues of a payments
union.- 1. The clearing agent.- 2. Techniques of accounting.- 3.
Prior imbalances and loans.- 4. Publicity.- 5. The question of
asymmetry.- 6. Quotas and access to credits.- 7. Adjustment rules.-
8. Macroeconomic surveillance.- 9. Interest-rate policies.- 10.
Capital cost.- 11. Duration.- 4. A hypothetical capital fund.- 5. A
payments union with the Soviet Union?.- 6. Macroeconomic
surveillance and the transition.- 1. Macroeconomic responses in a
payments union.- 2. Adjustment under traditional and modified
planning.- 1. Adjustment in the traditional CPE.- 2. Adjustment in
an MPE.- 3. Standard adjustment policies and the PETs.- 4.
Fund-type adjustment programs and the PETs.- 5. CEPU adjustment,
commercial policy, and diplomacy.- 6. Other issues of managing a
payments union.- 7. Downside risks of a CEPU.- 1. Backdrop to the
debate.- 2. The rump order of priority.- 3. General arguments
against payments unions.- 1. Key aspects of a payments union.- 2.
The starting conditions of potential participants.- 3. Directions
of desirable progress.- 4. Comments on the CEPU and their merits.-
5. An evalution of the criticisms.- 1. Emotional and political
objections.- 2. Immediate full convertibility and global
integration.- 3. A CEPU is too small and a CEEU wrong.- 4.
Inappropriateness of present trade patterns.- 5. Too expensive,
undesired, and too slow.- 8. Enlarging the European economic
space.- 1. The basic preoccupations of European integration.- 2.
What needs to be bridged?.- 3. On the transition to ME status.- 1.
Creating markets with genuine prices.- 2. Fostering competition.-
3. Privatization and capital markets.- 4. Trade and
foreign-exchange reforms.- 5. Banking infrastructure and capital
markets.- 6. Macroeconomic policy.- 7. Labor market.- 8. The social
safety net.- 9. Institutions of the market.- 4. On the sequencing
of reforms.- 5. Economic transition and east-west assistance.-
Conclusions.
By the middle of 1987, it had become apparent that the drift
towards far-reaching economic and political reforms in Eastern
Europe, the Soviet Union, China and a number of Asian centrally
planned economies would have far-reaching implications for the
world economy. As new institutional arrangements evolve in those
economies, the changes inevitably affect their entire external
trade and payment relations. In the initial phase the reform
process as well as its external policy aspects evoked considerable
scepticism among participants in the global economy. It was against
this backdrop that the Department of International Economic and
Social Affairs convened an international symposium on the external
impact of the economic reforms in the aforementioned countries. Its
principal purpose was twofold to evaluate the external aspects of
the ongoing reforms and their implications for the participation of
these economies in the global economic framework. On the other
hand, the symposium was to identify areas in which the more
imtimate integration of these countries into the global economic
framework could be facilitated and to separate those fields from
others that would need more research, d
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
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
This book addresses the policy questions surrounding the challenge of transforming eastern European economies from their planned, administrative past to vibrant market-based entities. Jozef van Brabant considers in turn, the wider set of challenges facing these economies - stabilization, privatization, liberalization, institution building, and developing and maintaining the sociopolitical consensus - before examining the evolving role of the state. Using concrete examples from the eastern European countries throughout, including the Czech Republic and Bulgaria, this work systematically examines, in a society-wide context, the initial conditions of transformation, the policy tasks ahead and the manner in which policies have been pursued. eBook available with sample pages: 0203072758
This volume focuses on the important issues raised by the recent
economic reforms of the centrally planned economies of China,
South-East Asia, Eastern Europe and the Soviet Union. Participation
in the international trade regime and how this may be affected by
the economic reforms; implications of the reforms for economic
relations with developing countries and development assistance
performance; participation in international monetary and financial
regimes and how this may be affected by economic reform; and the
impact of economic reform on regional integration schemes are all
analysed in depth.
First published in 1980, this book offers an account of the Council
for Mutual Economic Assistance (CMEA), the regional institution
overseeing East European economic integration at the time. The
author pursues three main themes in analyzing the sluggish pace of
East European integration on trade, the role of East-West relations
in the integration process, and the future of integration in the
1980s. Firstly he maintains that the integration process was
delayed because of the confused postwar situation and disagreement
among leaders of the region over a common economic programme for
reconstruction and sustained growth. Secondly, he argues that the
postwar development strategy and central planning of the economies
inhibited regional cooperation. Finally the author contends that
the organization and policy guidelines of the CMEA fell far short
of what would seem to be needed to further integration.
|
|