Reforming Central and Eastern European economies: initial results and challenges

Abstract

Reforms taking place in Central and Eastern Europe are unprecedented in political and economic history. Politicians and economists in the region are without models to guide them in the design and implementation of programs and policies. Much can be learned from the experience of reforms that have been implemented on a smaller scale in developing countries. Suggestions are presented based on the World Bank's experience with adjustment programs. Some of the unique features of reform in Central and Eastern Europe are discussed. The papers included in this book were presented at the Conference for Adjustment Lending: Lessons for Eastern Europe, held October 4, 1990, in Pultusk, Poland. These papers discuss such diverse elements of adjustment as the problems of macroeconomic stabilization, the development and reform of key markets, and privatization. The lack of the basic institutions and structures found in market economies makes the traditional models for studying macro and micro policies in market economies inadequate for analyzing the transition of socialist economies. This publication is a first step in isolating some of the unique issues facing these countries in their transition and suggesting appropriate conceptual frameworks.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 77 citations exist upstream.