Abstract
This topic at first seemed a straightforward assignment. It was not. First, the Central and East European countries (CEECs) have become progressively more differentiated since they discarded their old economic systems at the end of the 1980s. There were modifications of the standard centrally planned economy (CPE), but the range from Hungary to the old German Democratic Republic was fairly uniform, nowhere more so than in their international monetary affairs. Today these countries are in no respect more diverse than in their monetary and exchange rate regimes and their degree of integration into the international economy.
The author is grateful for comments from the discussants and participants, and particularly for subsequent written comments from Laszlo Csaba, Kemal Dervis, Barry Eichengreen, Kalman Mizsei, Joan Pearce, Jean Pisani-Ferry, Jim Rollo, Massimo Russo, John Williamson and L. Alan Winters. They will still not be satisfied, but any faults that others find are certainly not the responsibility of any of these very helpful colleagues.
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Portes, R., Kierzkowski, H., Vit, J. (1995). Integrating the Central and East European Countries into the International Monetary System. In: Genberg, H. (eds) The International Monetary System. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-79681-4_4
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DOI: https://doi.org/10.1007/978-3-642-79681-4_4
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