Title The successes and failures of economic transition : the European experience / Hubert Gabrisch and Jens Hölscher

Published Basingstoke [England] ; New York : Palgrave Macmillan, 2006

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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 Print version record Subject Free enterprise -- Europe, Eastern Post-communism -- Europe, Eastern Economic systems & structures -- Europe. POLITICAL SCIENCE -- Economic Conditions. BUSINESS & ECONOMICS -- Economics -- Comparative. BUSINESS & ECONOMICS -- Economic Conditions. BUSINESS & ECONOMICS -- Economic History. Economics. Economic policy Free enterprise Post-communism SUBJECT Europe, Eastern -- Economic policy -- 1989- http://id.loc.gov/authorities/subjects/sh91005698 Subject Eastern Europe Form Electronic book Author Hölscher, Jens. ISBN 9780230626584 0230626580 1403934932 9781403934932 1403934940 9781403934949 1280824905 9781280824906 9786610824908 6610824908

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