Jeffrey Sachs

Jeffrey Sachs is Galen L. Stone Professor of International Trade at Harvard University, and has been an economic advisor to more than a dozen countries around the world, including Bolivia, Mongolia, Poland, and Russia.

  • The Asian Financial Crisis

    The Asian Financial Crisis

    Lessons for a Resilient Asia

    Wing Thye Woo, Jeffrey Sachs, and Klaus Schwab

    This book analyzes the Asian financial crisis of 1997-1999. In addition to the issues of financial system restructuring, export-led recovery, crony capitalism, and competitiveness in Asian manufacturing, it examines six key Asian economies—China, Indonesia, Japan, Korea, Malaysia, and Thailand. The book makes clear that there is little particularly Asian about the Asian financial crisis. The generic character of the crisis became clear during 1998, when it reached Russia, South Africa, and Brazil. The spread of the crisis reflects the rapid arrival of global capitalism in a world economy not used to the integration of the advanced and developing countries. The book makes recommendations for reform, including the formation of regional monetary bodies, the establishment of an international bankruptcy system, the democratization of international organizations, the infusion of public money to revive the financial and corporate sectors in Pacific Asia, and stronger supervision over financial institutions. The book emphasizes a mismatch in Pacific Asia between investment in physical hardware (e.g., factories and machinery) and in social software (e.g., scientific research centers and administrative and judiciary systems). In a world of growing international competitiveness, concerns over governance will weigh increasingly heavily on unreformed Asian countries. The long-term competitiveness of Asia rests on its getting its institutions right.

    • Hardcover $65.00
    • Paperback $7.75 £5.99
  • Economies in Transition

    Economies in Transition

    Comparing Asia and Europe

    Wing Thye Woo, Stephen Parker, and Jeffrey Sachs

    In 1994, the Asia Foundation's Center for Asian Pacific Affairs began a two-year project to compare the transitions of selected East European and Asian economies from centrally-planned communist systems to market economies. The goal was to shed light on the transition process through an understanding of the underlying economic and institutional dynamics. This volume is the culmination of that project.The volume is divided into three parts. In the first part, an overview, the editors review the authors' findings and highlight major themes. The second part looks closely at the transition process in seven Asian and East European economies: China, Vietnam, Mongolia, Russia, Poland, Hungary, and the Czech Republic. The third part contains six comparative studies that explore key elements of the transition process. The papers incorporate feedback obtained from meetings with cabinet members and high government officials, conferences, and seminars in Prague, Ho Chi Minh City, Hanoi, Beijing, Ulan Bator, and Washington, D.C.

    Contributors Leszek Balcerowicz, Barbara Blaszczyk, Peter Boone, Yuan Zheng Cao, Bruce Comer, Marek Dabrowski, Georges de Menil, Daniel C. Esty, Gang Fan, Boris Federov, Roman Frydman, Carol Graham, Stephen Parker, Andrzej Rapaczynski, James Riedel, Jeffrey D. Sachs, Baavaa Tarvaa, Vinod Thomas, Gavin Tritt, Adiya Tsend, Enkhbold Tsendjav, Joel Turkewitz, Narantsetseg Unenburen, Yan Wang, Wing Thye Woo

    • Hardcover $65.00
    • Paperback $38.00 £32.00
  • Poland's Jump to the Market Economy

    Poland's Jump to the Market Economy

    Jeffrey Sachs

    an insider's analysis of the political events and economic strategy behind the country's swift transition to capitalism and democracy

    In Poland's jump to the Market Economy, Jeffrey Sachs provides an insider's analysis of the political events and economic strategy behind the country's swift transition to capitalism and democracy. The greatest challenges to economic reform, Sachs points out, have been primarily political in nature, rather than social or even economic. Sachs reviews Poland's striking progress since the start of the economic reforms three years ago, which he helped to design. He discusses the gains - more than half of employment and GDP is now in the private sector, exports to Western Europe have more than doubled, and economic growth and confidence are returning - as well as the serious problems that remain - high unemployment, a chronic fiscal deficit, the slow pace of privatization of large industrial enterprises, and the fragility of multiparty coalition governments.Sachs points out that leadership is crucial to economic reform in a newly democratic setting, as is the West's timely economic assistance. In Poland's case, the Zloty Stabilization Fund and the two-stage debt cancellation have been essential to keeping the reform program on track. Poland's example has had a powerful impact on reforms throughout the region, including the former Soviet Union, and has done much to dispel the fear that the citizens themselves, allegedly made lazy by decades of socialism, would reject the competitive rigors of a market economy. Overall, Sachs remains firmly convinced of the potential for successful economic reforms in Poland and the rest of the region.

    • Hardcover $35.00 £28.00
    • Paperback $9.75 £7.99

Contributor

  • Perspectives on the Performance of the Continental Economies

    Perspectives on the Performance of the Continental Economies

    Edmund S. Phelps and Hans-Werner Sinn

    Leading economists consider the apparent underperformance of the European economy, testing various explanations against data.

    Economists disagree on what ails the economies of continental western Europe, which are widely perceived to be underperforming in terms of productivity and other metrics. Is it some deficiency in their economic system—in economic institutions or cultural attitudes? Is it some effect of their welfare systems of social insurance and assistance? Or are these systems healthy enough but weighed down by adverse market conditions?

    In this volume, leading economists test the various explanations for Europe's economic underperformance against real-world data. The chapters, written from widely varying perspectives, demonstrate the shortcomings and strengths of some methods of economics as much as they do the shortcomings and strengths of some economies of western continental Europe. Some contributors address only income per head or per worker; others look at efficiency and distortions of national choices such as that between labor and leisure; still others look at job satisfaction, fulfillment, and rates of indigenous innovation. Many offer policy recommendations, which range from developing institutions that promote entrepreneurship to using early education to increase human capital.

    • Hardcover $9.75 £7.99