The successful macroeconomic stabilization in Central and Eastern European countries has encouraged inflows of foreign capital badly needed to promote economic development. Strikingly, these countries have found capital inflows in their various forms to be a mixed blessing, threatening the...

The first phase of transition to a market economy in Central and Eastern Europe was characterized by a sharp output decline. The fall in real GDP exceeded 20% while real industrial production decreased even by 40%. Output Decline in Eastern Europe aims at providing comprehensive, multi-factor...

I: The Role of Exchange Rate Regimes -- 1 Exchange Rate Policy and Real Exchange Rate Changes in Economic Transition -- 2 The Polish Exchange Rate Policy and Economic System Transformation -- 3 Economic Recovery and Foreign Exchange Rate Regime: The Case of the Czech Republic -- 4 The Birth and...