East European countries have experienced sharp declines in real GDP since 1990. One of the reasons for this decline is the Soviet trade shock caused by the collapse of the CMEA and of traditional export markets in the Soviet Union. This paper is an attempt to quantify the magnitude of this...

By the end of 1991, Czechoslovakia, Hungary and Poland had achieved a substantial degree of openness to foreign trade. In all three countries, trade is now demonopolized and licensing and quotas play a very small role. Exchange controls have virtually disappeared for current-account...

This paper applies the methodology and the empirical results derived from the `endogenous growth literature' to the East European countries. From that baseline, we analyse the solvency of Eastern Europe by calculating a `growth-adjusted-debt-per-effective-capita' measure of the burden of debt in...