Eastern Europe and the World Economy: Challenges of Transition and Globalization
The book makes a valuable contribution to the rather controversial issues of the mutual interweaving of transition and globalization. Although it covers a wide variety of topics it creates an integrated and coherent product . . . One can say that the book will not only assist scholars but also managers in their dealings with the countries of Central and Eastern Europe in their transformation into modern market economies integrated into the processes of globalization. Matija Rojec, Journal of International Relations and Development . . . the chapters are . . . interesting and well argued . . . some of the authors suggestions are as relevant today as they were at the time of writing. András Köves, Slavic Review Two of the most important economic processes at work in recent years are the globalization of the world economy and the economic transition in Central and Eastern Europe and the former Soviet Union. This book analyses the transition process from a comparative perspective and places these changes within the wider framework of globalization. It assesses the problems of transition faced by business and governments to better understand the direction in which future economic and political policy should move for improved growth. It evaluates the current stage of economic development in the transitional countries and discusses trends in the world economy since the early 1990s. Specifically, it addresses trends in global and regional development strategies, government policies, privatization, foreign investment and external balances. The authors then analyse the future prospects for economic and political relations between Eastern Europe and the European Union, the World Trade Organization and the international community as a whole. Some of the specific issues they focus on include US industrial competitiveness policy, economic nationalism, privatization in Eastern Europe, venture capital activities, the required economic conditions for Eastern European countries to join the European Union, regionalism and industrial policy for Eastern Europe, and lessons to be learned from the Japanese and Hong Kong transformations, as well as a comparative assessment of some political aspects of the economic strategies in Japan and Germany. Eastern Europe and the World Economy will be welcomed by scholars and students interested in the economics of transition, comparative economic systems, international economics and development economics, as well as by policymakers and government officials.
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accession activity Agreement autonomy Bank basic benefits billion budget candidate countries CE-5 countries cent Central European Centre China competition Contracting Parties contributed cooperation Corporation costs Czech Republic D)ARPA deficit direct investment domestic East European eastern enlargement Eastern Europe economist efficiency enterprises entrepreneurial European Union example export factors favourable fiscal foreign funds GATT German reunification Germany global goals governance structure growth Hong Kong Hungary important income increase industrial policy inflation initial distribution institutions integration interest rates international economic investors issue Japan Japan Development Bank Japanese Kong's labour linkage loans market economy ment MITI multilateral nomic organizations ownership Poland post-communist private companies problems production programme protection reform regime region role Russia sector Slovakia social welfare social welfare function Soviet strategy subsidies tariff theorems tion transfers transition economies Union USSR venture capital Western world economy