The reform programmes of most Eastern European countries have liberalized prices and taken on the task of macroeconomic stabilization, but the formation and implementation of structural policies has largely been neglected so far. What steps should the governments of Eastern Europe take to...

Although the main responsibility for carrying out economic reforms in the countries of Central and Eastern Europe lies with these countries themselves, the transformation of the Soviet-style economic system into a market economy must be made easier by support from abroad. In this the...

The integration of the former state-trading countries into international free trade may, on the one hand, sensibly complement the reforms now under way towards their becoming market economies; on the other hand, this move harbours the risk of perpetuating and indeed aggravating the economic...

In the countries of Eastern Europe the question as to the degree of currency convertibility is among the most important decisions to be taken when setting the framework for a free market economy. This article attempts to indicate the monetary and fiscal measures that will be required if the...

Privatizing government enterprises is one of the most difficult tasks in the transformation process taking place in the former socialist economies. What contribution do management buy-outs have to make in coping with that task?

In the economic literature the reasons for recession during the transformation of a planned into a market economy are still debated. The following article sets the arguments in this debate against an interpretation of the stylised facts of the transformation process in Central Eastern Europe...

Following the collapse of the CMEA, the foreign trade of the countries of Central and Eastern Europe declined drastically with dire consequences for output, incomes and employment in these countries. What options do the former CMEA members have for revitalizing their foreign trade? What...

Beyond the existing forms of East-West cooperation in Europe such as economic assistance, loans, joint ventures and association agreements, both sides are looking for suitable ways of establishing more institutionalized relations. Already existing institutions, membership of which could be...