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.
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Olivier Blanchard is C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics in Washington, DC. He was Chief Economist at the International Monetary Fund from 2008 to 2015.
Rudiger Dornbusch
The late Rudiger Dornbusch was Professor of Economics at the Massachusetts Institute of Technology.
Paul Krugman
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
Richard Layard is Director of the Centre for Economic Performance at the London School of Economics.
Lawrence H. Summers
Lawrence H. Summers is Charles W. Eliot Professor and President Emeritus at Harvard University. He served as Secretary of the Treasury in the Clinton administration and as Director of the National Economic Council in the Obama administration.
