Building the New Europe

1. Front Matter

   Pages 1-16

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2. From Planned to Market Economy

   1. Front Matter

      Pages 17-17

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   2. “Rerum Novarum” Inverted: Abuses of Socialism and Illusions of Capitalism

      • Hirofumi Uzawa

      Pages 19-31

   3. From «Envy and Distrust» to «Trust and Ambition» Eastern Europe’s Problems: How to Solve it and Why it May Take Long

      • Reuven Brenner

      Pages 33-58

   4. On the Economic Reforms in Eastern Europe: a Theoretical Viewpoint

      • Yves Balasko

      Pages 59-76

   5. No Free Lunch, No Free Market, No “One” East European Economy: Thoughts on the Transition to a Market Economy

      • Mario Baldassarri

      Pages 77-84

   6. Costs of Transition That Are Not Costs: On Non-Welfare-Reducing Output Fall

      • Jan Winiecki

      Pages 85-94

   7. Liberalizing Foreign Trade in a Socialist Economy: The Problem of Negative Value-Added

      • Ronald I. Mckinnon

      Pages 95-120

   8. Post-Reform East and West: Capital Accumulation and the Labor Mobility Constraint

      • Charles Wyplosz

      Pages 121-144

   9. The Effects of the Eastern European Countries’ Economic Reform on the Western Industrial Economies: a Macroeconomic Approach

      • Alessandro Giustiniani, Francesco Papadia, Daniela Porciani

      Pages 145-187

   10. Debt Relief and Eastern Europe: Why Poland is a Special Case

       • James W. Dean, Aihua Xu

       Pages 189-230

   11. The Experience of West European Public Enterprises for the Transition of Eastern European Economies

       • Franco A. Grassini

       Pages 231-262

3. The Experience of Selected Countries

   1. Front Matter

      Pages 263-263

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   2. Hungary

      1. Transition to a Market Economy: the Experience of Hungary

         • Béla Kádár

         Pages 265-274

      2. The Development of the Social Market Economy in Hungary and the Opportunities Resulting from Future Entry into the European Community

         • Otto Hieronymi

         Pages 275-287

   3. Poland

      1. Inflation Stabilization in Poland: A Year After

         • Grzegorz W. Kolodko

         Pages 289-330

   4. Yugoslavia

      1. The Problems of Transition from a Socialist to a Market Economy in Yugoslavia

         • Mate Babić

         Pages 331-344

   5. The Soviet Union

      1. Planning Authority and Enterprise in the Soviet Transition: A Principal-Agent Model

         • Claudio De Vincenti

         Pages 345-365

      2. Interconnections Between World Markets and Soviet Economy

         • Nikolai P. Shmelyov

         Pages 367-375

      3. The Soviet Union on the Road to Market Economy

         • Oleg T. Bogomolov

         Pages 377-386

Building the 'New Europe' is at the core of the new international economic and political initiatives leading the world through the nineties and toward the twenty-first century. This challenge rests on dual processes: on the one hand, the European Community-wide single market and monetary integration; and, on the other, the East European transition to the market place and integration with Western economies. The volume is divided into two parts. The first section includes essays on the general and specific topics linked to the transitions to a market economy and to a pluralist political system. The second section comprises essays on individual countries, such as Hungary, Poland, Yugoslavia and the Republics of the former Soviet Union.

• agents
• Eastern Europe
• European Community
• foreign trade
• Inflation
• integration
• macroeconomics
• transition
• welfare

• University of Rome ‘La Sapienza’, Italy

  Mario Baldassarri

• Columbia University, New York, USA

  Robert Mundell

Policies and ethics