Description |
1 online resource (xiv, 187 pages) : illustrations |
Contents |
PART 1: THE MEANING AND MEASUREMENT OF TRANSITION -- What Transition Means -- How Transition is Measured -- An Alternative Measure: Economic and Social Effects -- Appendix A: The Gini Coefficient and the Lorenz Curve -- PART 2: TWO COMPETING CONCEPTS OF TRANSITION -- The 'Washington Consensus' Approach -- The Evolutionary-institutionalist Approach -- Fundamental Differences in Transitional Issues -- The Dispute over Stabilization Policy -- A Country Taxonomy of Transition -- Appendix 1: The Lipton-Sachs Model of Combining Liberalization and Stabilization -- Appendix 2: IMF Financial Programming -- PART 3: FINANCIAL INSTITUTIONS, STABILITY, AND GROWTH -- The Core of the Monetary Economy: The Central Bank -- Financial Systems as Stabilizers -- Financial Fragility -- The Relevance of Financial Systems for Stability and Growth -- The Strategy of 'Semi-liberalization' -- The Evolution of Financial Institutions -- PART 4: PRIVATIZATION AND COMPETITION -- From State to Private Ownership -- A Taxonomy of Privatization Methods -- A Review of Anti-trust Practices in EU Accession Countries -- PART 5: EMERGING LABOUR MARKETS -- Supply- and Demand-side Liberalization -- The Unemployment Problem -- The Optimal Speed of Transition -- The Beveridge Curve -- Growth and Unemployment -- Appendix: The Aghion-Blanchard Model of the OST -- PART 6: OPENING TOWARDS THE WORLD -- The Open and Opening Economy -- Price Convergence and Aggregate Demand -- Relative Price Shocks and Value Added -- The Exchange Rate as a Tool for Trade Policy -- Capital Account Liberalization -- Appendix: Trade Opening and Negative Value Added -- PART 7: RISING INCOME INEQUALITY -- Income Distribution and Convergence in the Transition Process -- The 'Standard Explanation' for Rising Inequality and its Application to Transition Economies -- Macroeconomic Aspects of Income Distribution -- Some Observations -- Cross-country Comparisons -- Country Performances Reconsidered -- Convergence versus Divergence -- Appendix: Income Statistics -- PART 8: TRANSITION AND EU MEMBERSHIP -- Competition Policy -- EMU Membership -- Fiscal Transparency -- Fiscal Transparency and Rules in poland -- PART 9: COUNTRY CASE STUDIES -- East Germany: The Transfer Economy -- Hungary: The Economy of Stop-go Cycles -- Russia: The Oligarchic Economy -- The 'new rich' and Capital Flight -- China: Currency Undervaluation and Economic Development -- Reasons for Fixing the Exchange Rate to the US Dollar -- Does the PBOC waste money? -- Adjustment of the Balance of Payments |
Summary |
This graduate textbook takes a macroeconomic approach to the issue of transformation from communist economies into market economies. At the centre of the analysis stands the role of the state and the definition within a dramatically changing environment. Particular emphasis is given to the emerging role of money and the financial sector. Transition is presented as a story of economic crises, recovery and fragility. Exits from this sequence of events are different and presented in a variety of patterns. The book is rich in empirical observations underpinning the systematic approach with case studies also presented |
Bibliography |
Includes bibliographical references and index |
Notes |
English |
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Print version record |
Subject |
Free enterprise -- Europe, Eastern
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Post-communism -- Europe, Eastern
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Economic systems & structures -- Europe.
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POLITICAL SCIENCE -- Economic Conditions.
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BUSINESS & ECONOMICS -- Economics -- Comparative.
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BUSINESS & ECONOMICS -- Economic Conditions.
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BUSINESS & ECONOMICS -- Economic History.
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Economics.
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Economic policy
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Free enterprise
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Post-communism
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SUBJECT |
Europe, Eastern -- Economic policy -- 1989-
http://id.loc.gov/authorities/subjects/sh91005698
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Subject |
Eastern Europe
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Form |
Electronic book
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Author |
Hölscher, Jens.
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ISBN |
9780230626584 |
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0230626580 |
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1403934932 |
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9781403934932 |
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1403934940 |
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9781403934949 |
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1280824905 |
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9781280824906 |
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9786610824908 |
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6610824908 |
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