Reform in Eastern Europe
Overview
How can the new governments of Eastern Europe succeed in moving from centrally planned to freemarket economies? This incisive report identifies and describes the major policy choices to be made and discusses what will work and what will not.Reform in Eastern Europe provides a comprehensive, easily read statement of reform policy that stands in the mainstream of modern Western economics. Based on their experience with stabilization policies in other countries, the authors show how Eastern Europe can reduce unemployment during the painful adjustment process, create effective and socially acceptable mechanisms to subject enterprises to market discipline, and replace barter trade under CMEA with market-based international trade.
About the Authors
Olivier Blanchard is C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics, Washington, D.C.
Rudiger Dornbusch is Professor of Economics at the Massachusetts Institute of Technology.
Paul Krugman is Professor of Economics and International Affairs at Princeton University and a New York Times columnist. He was awarded the Nobel Prize for Economics in 2008.
Richard Layard is Director of the Centre for Economic Performance at the London School of Economics.
Lawrence Summers is Charles W. Eliot University Professor and President Emeritus at Harvard University.