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J anos Gaes and Georg Winekler In recognition of the key position of international trade in the transition and the need for concentrated discussions of topical trade issues the International Institute for Applied Systems Analysis (IIASA) organized an international conference on "International Trade and Restructuring in Eastern Europe" which took place in Laxenburg, Austria, on 19 and 21 November 1992. The Austrian National Bank joined IIASA to co-sponsor the event. Participants of the conference were experts of international economics and trade policy from East and West, policy makers, and representatives of international organizations like the IMF, the Commission of the European Communities, the OECD, and the European Bank for Reconstruction and Development (EBRD). The papers prepared for the event and the lively discussions during the conference itself prove that the topics are intellectually challenging and timely for policy makers. It has widely been recognized that international economic relations play a crucial role in the transition of count ries of Central and Eastern Europe. The scope, speed, and success of the efforts to transform the formerly cen trally planned economies to market economies have increasingly become de pendent on the pattern these count ries have in their relation to the rest of the world. Transition comprises three major processes: macro-stabilization, mar ketization, and restructuring. The success of these three hinges to a large extent on the response of these economies to the new conditions set by international trade and exchange regimes.
I: The Role of Exchange Rate Regimes.- 1 Exchange Rate Policy and Real Exchange Rate Changes in Economic Transition.- 2 The Polish Exchange Rate Policy and Economic System Transformation.- 3 Economic Recovery and Foreign Exchange Rate Regime: The Case of the Czech Republic.- 4 The Birth and Childhood of a Currency: The Experience of Slovenia.- II: Trade Liberalization and Emerging Trade Patterns.- 5 Trade Liberalization in the CSFR, Hungary, and Poland: Rush and Reconsideration.- 6 Changing Trade Patterns and Industrial Policy: The Case of Poland.- 7 Life Without CMEA: Foreign Trade in Eastern and Central Europe.- 8 Trade Patterns and Comparative Advantages of Central Eastern Europe with EC Countries.- 9 The Export Performance of the CSFR, Hungary, and Poland: Reform, Transformation, and Competitiveness.- III: Enterprises and Trade Restructuring.- 10 Factors and Effects of Trade Reorientation in Hungary.- 11 The Effects of Privatization on Enterprise Production and Trade Strategy.- 12 Monopoly Power, Import Competition, and Price Liberalization in the CSFR.