5After addressing some principal political economy issues in the
previous chapters, I will discuss in this chapter
1 one of the most
interesting macroeconomic issues in the present economic reforms, namely, currency convertibility.
2 I will also address the
question of what the West could do to assist Eastern Europe during
its transition, since currency convertibility and domestic economic
reforms are strongly interrelated. The success or failure of the
economic reforms will be measured by the improvements made in
economy efficiency. As conventional wisdom tells us, economic
efficiency will thrive where currency convertibility comes at an
early date.This chapter addresses the following questions:
in the Postcommunist
|• ||What were the Eastern European concepts for introducing currency
convertibility in the pre-reform period? (Brief overview).|
|• ||What are the advantages and the preliminary macroeconomic conditions for convertibility?|
|• ||What are the possible scenarios (measures and stages) for achieving
|• ||What international support is needed in the transition to convertibility?|
Questia, a part of Gale, Cengage Learning. www.questia.com
Book title: Eastern Europe in a Time of Change:Economic and Political Dimensions.
Contributors: Iliana Zloch-Christy - Author.
Publisher: Praeger Publishers.
Place of publication: Westport, CT.
Publication year: 1994.
Page number: 79.
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