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?

Foreign direct investment is an important catalyst for the economic changes in transition economies offering host countries external resources, technology, management, and access to foreign markets. It is therefore high on the public policy agenda in the transition economies of Central and...

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...

The economies of Central and Eastern Europe have inherited serious burdens of environmental pollution, while their economic scope for dealing with these is limited. The transition to the market economy offers chances for improvement, but it also brings new environmental problems. How will the...

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...

The economic reforms taking place in Eastern Europe have in many respects an unfavourable influence on environmental protection. The adjustment of Eastern Europe to the environmental requirements of the European Union necessitates far-reaching changes in the very philosophy of transition,...

Traditional views of security policy have focused almost exclusively on defence and military topics. The process of transition in eastern Europe makes it necessary to take a much broader approach in which, for example, areas such as economic and social policy, or world trade and monetary...

The nineties have seen a number of developments which will have major consequences for international agricultural trade. Will the changed conditions in the world agricultural markets enable less developed countries (LDCs) and Central and Eastern European countries (CEECs) to exploit their...