Making Markets: Economic Transformation in Eastern Europe and the Post-Soviet States

By Shafiqul Islam; Michael Mandelbaum | Go to book overview
ahead and explain to them what the proposed policies will accomplish and why any alternative would yield less desirable outcomes.
Effective implementation of policies is as important as having the right policies. Strengthening public administration should be a very high priority for the new governments and should also be a target of foreign assistance.

Notes

The author acknowledges, with thank, comments on an earlier version or country-specific interpretations provided by Ivo Bicanic, Aurel Braun, Shafiqul Islam, Owen Johnson, Michael Mandelbaum, Michael Montias, Dusan Mramor, and Rychard Rapacki. None of these individuals should be held responsible for any of the facts or interpretations presented

1.
Janos Kornai, "The Hungarian Reform Process: Visions, Hopes, and Reality", Journal of Economic Literature, vol. 24, no. 4 ( 1986), pp. 1687-737.
2.
Andras Inotai and Mihaly Patai, "Hungarian Debt Management Strategy for the Nineties", Institute for World Economics Working Paper, no. 1 ( Budapest, 1991).
3.
The Brezhnev Doctrine, announced by the Soviet leader after the 1968 invasion of Czechoslovakia, stated that once a country has been brought under the direct Soviet alliance system, it will not be permitted to leave that alliance.
4.
David Lipton and Jeffrey Sachs, "Creating a Market Economy in Eastern Europe: The Case of Poland" (Paper for the Brookings Panel on Economic Activity, Washington, D.C., April 5-6, 1990).
5.
Wlodzimierz Brus, "The Political Economy of Reform in Poland", in P. Marer and W. Siwinski, eds., Creditworthiness and Reform in Poland ( Bloomington: Indiana University Press, 1988), p. 78.
6.
Wlodzimierz Siwinski, "Why Poland Lost Its Creditworthiness", in Marer and Siwinski, Creditworthiness and Reform, pp. 25-31.
7.
Marer and Siwinski, Creditworthiness and Reform.
8.
Dariusz K. Rosati, "Institutional and Policy Framework for Foreign Economic Relations in Poland", in United Nations Economic Commission for Europe, Reforms in Foreign Economic Relations of Eastern Europe and the Soviet Union ( New York, 1991).
9.
Gordon Skilling, "Czechoslovakia Between East and West", in W. E. Griffith , ed., Central and Eastern Europe: The Opening Curtain ( Boulder, Colo.: Westview Press, 1989).
10.
Institutional-legal factors contributed also. In 1970 the government almost inadvertently passed a law, proposed earlier as part of the reform package, providing for a substantial degree of independence of the central monetary authorities, making the monobank co-responsible for central planning. In a traditional centrally planned economy the planning office

-97-

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Making Markets: Economic Transformation in Eastern Europe and the Post-Soviet States
Table of contents

Table of contents

  • Title Page iii
  • Council On Foreign Relations Books iv
  • Contents v
  • Foreword vii
  • Acknowledgments ix
  • Introduction 1
  • 1 - From Central Planning to a Market Economy 16
  • Notes 49
  • 2 - Economic Transformation in Central and Eastern Europe 53
  • Notes 97
  • 3 - Economic Reform in the USSR and Its Successor States 99
  • Notes 138
  • 4 - Western Financial Assistance and Russia's Reforms 143
  • Appendix to Chapter 4 - A Note on G-7 Assistance Extended to the Soviet Union 176
  • Notes 178
  • Conclusion - Problems of Planning a Market Economy 182
  • Notes 212
  • Appendix 216
  • Index 218
  • Glossary of Abbreviations and Acronyms 235
  • About the Authors 236
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