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Foreign Trade, Foreign Direct Investments and Privatization in Eastern Europe

  • Dominick Salvatore
Part of the Central Issues in Contemporary Economic Theory and Policy book series (CICETP)

Abstract

During the past few years we have witnessed some of the most dramatic political and economic changes in human memory with the collapse of the Communist regimes in Eastern Europe and the USSR. All the nations of Eastern Europe and the USSR are now struggling to restructure their economies along market lines. The required restructuring and privatization of these economies are on a scale larger than anything that has been attempted in the past. Even the reconstruction of Europe after the devastation of World War II was to some extent easier since it involved the reestablishment of functioning markets rather than the creation of a brand new market system after 50 years of Communism as in Eastern Europe today and more than 70 years in the USSR. Western economists also found themselves at a loss, for the most part, when it came to advising Eastern European governments on the best road to a market economy. Only some general broad principles are agreed upon. The most important of these is the need to privatize the economy. But when it came on how to do it and on how rapidly to proceed (for example, gradually or all at once) disagreements abound.

Keywords

Foreign Direct Investment Gross Domestic Product Comparative Advantage Eastern European Country Gross National Product 
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 Servizio Italiano Pubblicazioni Internazionali Srl 1993

Authors and Affiliations

  • Dominick Salvatore
    • 1
  1. 1.Fordham UniversityNew YorkUSA

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