Overview

The first phase of transition to a market economy in Central and Eastern Europe was characterized by a sharp decline in output. The fall in real GDP exceeded 20% while real industrial production even decreased by 40%. This text provides comprehensive multi-factor explanations for this unique and painful experience. Various hypotheses are analyzed: credit and fiscal policies may have been too tight; the collapse of the CMEA and the USSR came as a shock; domestic producers were neither experienced, nor flexible enough to adjust the output to new patterns of demand. It contains a combination of authors from East and West who have extensively analyzed new data based on national studies. If we can understand the causes of recent output decline then we can hope to assess the prospects for Eastern Europe. The book is intended for researchers and students as well as interested officials who deal with the transition of formerly centrally planned economies in Central and Eastern Europe.

Full Product Details

Author:   Robert Holzmann ,  Janos Gacs ,  Georg Winckler
Publisher:   Kluwer Academic Publishers
Imprint:   Kluwer Academic Publishers
Volume:   v. 34
Weight:   0.880kg
ISBN:  

9780792332855

ISBN 10:   0792332857
Pages:   396
Publication Date:   28 February 1995
Audience:   College/higher education ,  Professional and scholarly ,  Postgraduate, Research & Scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   Out of stock  
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Table of Contents

Introduction and Overview; R. Holzmann, J. Gacs, G. Winckler. I: Measurement of Output Decline. 1. The Impact of National Accounting Systems on Growth Rates; J. Avay. 2. The Irregular Economy in Transition: Features, Measurement, and Scope; B. Dallago. Comments; R. Rose. 3. Interpreting the Decline of Output and the Prospects for Recovery ; J.S. Earle. II: Causes of Output Decline. 4. Common Causes or Structural Adjustment? Output Decline in Eastern Europe and Poland; E. Borensztein, J.D. Ostry. Comments; K. Neusser. 5. Supply and Demand Factors in Output Decline in Central and Eastern Europe; A. Berg. Comments; M. Dabrowski. 6. The Impact of the Soviet Trade Shock on Central and East European Economies; D.K. Rosati. 7. The Effects of the Demise of the CMEA and the USSR on Output in Hungary; J. Gacs. Comments; G. Oblath, D. Gros. 8. Inter-Enterprise Arrears in Economies in Transition; G.A. Calvo, F. Coricelli. Comments; J. Rostowski. 9. The Financial Situation and Bad Debts of Enterprises in Poland; S. Gomulka. Comments; D. Daianu. 10. Output Decline and Government Expenditures in European Transition Economies; Ke-young Chu, G. Schwartz. Comments; E. Nowotny. 11. Output and Employment in Private and Non-Private Businesses in Hungary: 1990-1992; A. Valentinyi. 12. Output Decline and the Dynamics of Privatization in the Czech Republic; A. Capek. Comments; M. Rutkowski. III: Policy Issues of Output Decline. 13. Output Decline and Recovery in Central and Eastern Europe: the Role of Incentives; M. Raiser, P. Nunnenkamp. 14. Opening Western Markets: the European Community's Response; A. Bucher. Comments; S. Richter. 15. Disinflation without Output Decline: Tales of Exchange-Rate-Based Stabilization; A.F. Ades, M.A. Kiguel, N. Liviatan. Summary: Output Decline in Eastern Europe - Summing up the Debate; J. Williamson.

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