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This second yearbook of The Vienna Institute for Comparative Economic Studies presents studies dealing with the economic situation in Eastern Europe and the Soviet Union. Its foreign trade analysis offers insights into the ongoing transition process from centrally planned to market-oriented systems.
This second yearbook of The Vienna Institute for Comparative Economic Studies presents studies dealing with the economic situation in Eastern Europe and the Soviet Union. Its foreign trade analysis offers insights into the ongoing transition process from centrally planned to market-oriented systems.
An exploration of Eurasia's security environment. The authors examine political-military concerns and economic, ethnic, and environmental issues. Volume 1 covers Russia and the West; volume 2 covers Russia, the Caucasus and Central Asia; and volume 3 covers Russia and East Asia.
Reflecting Professor Holzman's important work, this book deals with major issues relating to both East-West and intra-bloc trade. Professor Holzman explores the transition in Soviet bloc economies over the past fifteen years from balanced hard-currency trade to large deficits with the West and the consequent development of a huge hard-currency debt. He compares the causes and treatments of deficits in planned economies with those in market economies and explores the dramatic differences in foreign trade behavior exhibited by Eastern and Western nations and the difficulties that arise when these conflicting systems interact in world markets. He also assesses the impact of Western economic warfare on the Soviet Union and makes recommendations for future U.S. trade policy. The author next turns to the issue of intra-bloc trade. In its early years the USSR economically exploited the smaller East European nations, but many argue that the Soviet Union now subsidizes trade with its partners in the Council for Mutual Economic Assistance in exchange for political, military, and ideological support–an argument that Professor Holzman strongly challenges. He also contends that CMEA, when viewed as a preferential trade group or customs union, has been markedly unsuccessful. On another level, Professor Holzman assesses the causes and possible cures for the serious, chronic problems related to currency inconvertibility, rigid bilateralism, and inability to use exchange rates as tools of economic adjustment. In an international economy growing ever more interdependent, the issues raised in these previously uncollected essays will continue to gain in importance as East and West meet in trade.
The Soviet Union and Eastern Europe are moving away from a centrally planned economy toward integration within the global economy. How did this transition begin? Is this an aim which all the countries can afford? What conditions are to be met so that the countries will achieve a level of development comparable with the average level of their industrial partners? In this 1992 volume, leading international political economists from both the East and West provide an in-depth analysis of these questions. The contributors assess how the transition to the market requires liberalizing foreign trade, introducing convertibility, and transforming property structures, all of which are also part of the ongoing domestic reform. They also examine how these countries overcome their development lag and implement a restructuring policy.