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The Elements of Economic Reform: Eastern Europe

  • Robert Solomon
Chapter
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Abstract

At the end of World War II, the Soviet Union’s Red Army occupied the countries of Eastern and Central Europe (henceforth referred to as Eastern Europe). Stalinist regimes, both political and economic, were established in Albania, Bulgaria, Hungary, Poland and Romania, as well as in East Germany. In 1948 Czechoslovakia came under full Communist control but in the same year Yugoslavia, under Josip Broz Tito, broke with the Soviet Union and followed its own socialist road; in later years this included ‘self-management’ of enterprises and much less central planning than elsewhere in the region.

Keywords

Market Economy Economic Reform Eastern European Country Soft Budget Constraint Command Economy 
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Notes

  1. 1.
    A. Maddison, The World Economy in the Twentieth Century (Paris: Development Centre of the Organization for Economic Cooperation and Development, 1989) pp. 38, 126.Google Scholar
  2. 2.
    S. Fischer, Russia and the Soviet Union: Then and Now, National Bureau of Economic Research, Working Paper No. 4077 (May 1992) pp. 17–18.CrossRefGoogle Scholar
  3. 3.
    R. East, Revolutions in Eastern Europe (Pinter Publishers, 1992) pp. 96–7.Google Scholar
  4. 4.
    D. Lipton and J. Sachs, ‘Creating a Market Economy in Eastern Europe: The Case of Poland’, Brookings Papers on Economic Activity (1:1990) p. 78.Google Scholar
  5. 5.
    Quoted in S. Fischer and A. Gelb, ‘The Process of Socialist Economic Transformation’, Journal of Economic Perspectives, 5 (Feb. 1991) p. 91.CrossRefGoogle Scholar
  6. 6.
    L. Balcerowicz, ‘Common fallacies in the debate on the economic transition in central and eastern Europe’, European Bank for Reconstruction and Development, Working Papers No. 11 (October 1993) p. 3.Google Scholar
  7. 7.
    M. Bruno, ‘Stabilization and Reform in Eastern Europe’, Staff Papers, International Monetary Fund, 39 (Dec. 1992) p. 761.CrossRefGoogle Scholar
  8. 9.
    S. Thomas, ‘The Politics and Economics of Privatization in Central and Eastern Europe’, The Columbia Journal of World Business xxvm, (Spring 1993) p. 169.Google Scholar
  9. 11.
    A. Robinson, Financial Times, 3 July 1992, Section m, p. tGoogle Scholar
  10. 13.
    A. Ewing, B. Lee, and R. Leeds, ‘Accelerating Privatization in Ex-Socialist Economies’, The Columbia Journal of World Business, xxvm (Spring 1993 ) p. 160.Google Scholar

Copyright information

© Robert Solomon 1994

Authors and Affiliations

  • Robert Solomon
    • 1
  1. 1.The Brookings InstitutionUSA

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