Output Decline in Eastern Europe

1. Front Matter

   Pages i-xvi

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2. Introduction and Overview

   1. Front Matter

      Pages 1-1

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   2. Introduction and Overview

      • Robert Holzmann, János Gács, Georg Winckler

      Pages 1-12

3. Measurement of Output Decline

   1. Front Matter

      Pages 13-13

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   2. The Impact of National Accounting Systems on Growth Rates

      • János Árvay

      Pages 15-29

   3. The Irregular Economy in Transition: Features, Measurement, and Scope

      • Bruno Dallago

      Pages 31-63

   4. Interpreting the Decline of “Output” and the Prospects for “Recovery”

      • John S. Earle

      Pages 65-72

4. Causes of Output Decline

   1. Front Matter

      Pages 73-73

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   2. Common Causes or Structural Adjustment? Output Decline in Eastern Europe and Poland

      • Eduardo Borensztein, Jonathan D. Ostry

      Pages 75-98

   3. Supply and Demand Factors in Output Decline in Central and Eastern Europe

      • Andrew Berg

      Pages 99-129

   4. The Impact of the Soviet Trade Shock on Central and East European Economies

      • Dariusz K. Rosati

      Pages 131-159

   5. The Effects of the Demise of the CMEA and the USSR on Output in Hungary

      • János Gács

      Pages 161-191

   6. Inter-enterprise Arrears in Economies in Transition

      • Guillermo A. Calvo, Fabrizio Coricelli

      Pages 193-215

   7. The Financial Situation and Bad Debts of Enterprises in Poland

      • Stanislaw Gomulka

      Pages 217-239

   8. Output Decline and Government Expenditures in European Transition Economies

      • Ke-young Chu, Gerd Schwartz

      Pages 241-263

   9. Output and Employment in Private and Non-private Businesses in Hungary: 1990–1992

      • Ákos Valentinyi

      Pages 265-284

   10. Output Decline and the Dynamics of Privatization in the Czech Republic

       • Aleš Čapek

       Pages 285-305

5. Policy Issues of Output Decline

   1. Front Matter

      Pages 307-307

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   2. Output Decline and Recovery in Central and Eastern Europe: The Role of Incentives

      • Martin Raiser, Peter Nunnenkamp

      Pages 309-334

   3. Opening Western Markets: The European Community’s Response

      • Anne Bucher

      Pages 335-350

The first phase of transition to a market economy in Central and Eastern Europe was characterized by a sharp output decline. The fall in real GDP exceeded 20% while real industrial production decreased even by 40%. Output Decline in Eastern Europe aims at providing comprehensive, multi-factor explanations for this unique, painful experience. Various hypotheses are analyzed: credit and fiscal policies may have been too tight; the collapse of the CMEA and the USSR came as a shock; domestic producers were neither experienced, nor flexible enough to adjust the output to new patterns of demand. Output Decline in Eastern Europe contains a unique combination of authors from East and West who extensively analyze new data based on country studies.
Understanding the causes of recent output decline, the subject matter of this volume may help to assess the prospects for Eastern Europe.
The book is addressed to researchers and students as well as interested officials who deal with the transition of formerly centrally planned economies in Central and Eastern Europe.

• Eastern Europe
• Europe
• European Community
• Nation
• Privatization
• linear optimization

• University of Saarland, Germany

  Robert Holzmann

• International Institute for Applied Systems Analysis, Austria

  János Gács

• University of Vienna, Austria

  Georg Winckler

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