The Effects of the Eastern European Countries’ Economic Reform on the Western Industrial Economies: a Macroeconomic Approach

  • Alessandro Giustiniani
  • Francesco Papadia
  • Daniela Porciani
Part of the Central Issues in Contemporary Economic Theory and Policy book series (CICETP)


During the sixties, a quite vivid debate developed among economists and sociologists on the issue raised by Tinbergen ([58], p. 341) on the converging pattern shown by centrally planned and market economies, as each system was adopting elements of the other (2). In a nutshell, the thesis was that the two economic systems, considered less than optimal in the light of their difficulties, would move towards an intermediate “optimal” economic regime. However, Tinbergen concluded underlining that: «It is … hardly conceivable that we will soon be able to indicate precisely where the optimum lies, or even to say whether ‘East and West’ will actually ‘meet’ in their attempts to find the ‘welfare summit’».


Interest Rate Labour Productivity Capital Stock Total Factor Productivity Eastern European Country 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© SIPI Srl, Rivista di Politica Economica 1993

Authors and Affiliations

  • Alessandro Giustiniani
    • 1
  • Francesco Papadia
    • 1
  • Daniela Porciani
    • 1
  1. 1.Banca d’ItaliaRomaItaly

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