Market-oriented Reform of Foreign Trade in Planned Economies

  • Thomas A. Wolf
  • Kazimierz Laski
  • Urszula Plowiec
Part of the International Economic Association Series book series (IEA)


It has long been evident that greater integration of centrally planned economies (CPEs) into the world economy depends on fundamental reform of their foreign trade systems. In several CPEs, reforms designed to end their insulation from international markets, particularly for manufactures, have involved initiatives to dismantle the traditional institutional monopoly of foreign trade, to provide individual enterprises with both the autonomy and incentives to participate more actively in foreign markets, and to link the domestic price system more fully with the structure of prices prevailing abroad.1 Planned economies undertaking particularly ambitious foreign trade reforms include China, Hungary, Poland and, relatively recently, the Soviet Union.


Exchange Rate Foreign Exchange Foreign Trade Plan Economy Transaction Price 
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Copyright information

© International Economic Association 1990

Authors and Affiliations

  • Thomas A. Wolf
    • 1
  • Kazimierz Laski
    • 2
  • Urszula Plowiec
    • 3
  1. 1.International Monetary FundWashington DCUSA
  2. 2.University of Linz and Vienna Institute of Comparative Economic StudiesAustria
  3. 3.Foreign Trade Research InstituteWarsawPoland

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