The collapse of communism in Europe was one of the most important world events since the end of World War II. Although China has taken major steps in the direction of capitalism, in Eastern Europe, China, and Central Asia the transformation has been only partly accomplished; in Cuba and North Korea it has not even begun. In Eastern Europe and Russia, economic reforms were accompanied by huge falls in output, followed by some recovery in Eastern Europe, especially in Poland. By contrast, in China output has grown steadily at a rate never seen in Europe.If free markets and private ownership are meant to increase economic opportunity and welfare, why has their introduction been accompanied by such pain in Eastern Europe and Russia? The contributors to this book believe that future reform strategies in any country depend on understanding what has occurred in these emerging economies so far. Issues addressed include inflation, privatization, enterprise restructuring, banking reform and labor market policy, and the role of decentralization in China's growth.Contributors : Peter Boone, Saul Estrin, Stanislaw Gomulka, Jacob Hørder, Richard Jackman, Richard Layard, Sweder Van Wijnbergen, Wing Thye Woo, Chengang Xu, Juzhong Zhuang.
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Editorial Reviews
Review
"Eastern Europe, Russia, and China emerged from communism with verydifferent records of progress and pain. To understand why, read this book.It presents a fascinating account of transition experiences and revealsmany secrets of success and failure." Andrei Shleifer , Professor of Economics, Harvard University
About the Author
Richard Layard is Director of the Centre for Economic Performance at the London School of Economics.
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Inside This Book
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First Sentence:
Six facts stand out about the European reform process, compared with the Chinese. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
labor reallocation effect, initial price jump, novo firms, continued high inflation, real aggregate demand, nonstate enterprises, nonstate sector, bonus tax, parallel prices, transformational recession, most transition economies, junior creditors, former socialist economies, job destruction Key Phrases - Capitalized Phrases (CAPs): (learn more)
Eastern Europe, Czech Republic, Soviet Union, World Bank, State Statistical Bureau, Statistical Yearbook of China, Big Bang, Cultural Revolution, Western Europe, United States, East Asia, Latin America, Chinese M-form, Deng Xiaoping, Richard Layard, Slovak Republic, Tiananmen Square, Central Statistical Office, Labour Force Statistics, Warsaw Pact, West European, Baltic Republics, Bank of Estonia, Mark Schaffer, Ministry of Privatization New!
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Six facts stand out about the European reform process, compared with the Chinese. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
labor reallocation effect, initial price jump, novo firms, continued high inflation, real aggregate demand, nonstate enterprises, nonstate sector, bonus tax, parallel prices, transformational recession, most transition economies, junior creditors, former socialist economies, job destruction Key Phrases - Capitalized Phrases (CAPs): (learn more)
Eastern Europe, Czech Republic, Soviet Union, World Bank, State Statistical Bureau, Statistical Yearbook of China, Big Bang, Cultural Revolution, Western Europe, United States, East Asia, Latin America, Chinese M-form, Deng Xiaoping, Richard Layard, Slovak Republic, Tiananmen Square, Central Statistical Office, Labour Force Statistics, Warsaw Pact, West European, Baltic Republics, Bank of Estonia, Mark Schaffer, Ministry of Privatization New!
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Citations (learn more)
This book cites 31
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7
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- Economic Trends December 2003 (No. 601) by Office for National Statistics on 5 pages
- Corporate Governance by David Hume Institute in Back Matter (1), and Back Matter (2)
- Economic Growth by Robert J. Barro in Back Matter
- Job Creation and Destruction by Steven J. Davis in Back Matter
- Trade in the New Independent States (BHeIIIHRR)13 (Russian Edition) by Constantine Michalopoulos on page 27
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- Labor Markets and Social Policy in Central and Eastern Europe: The Accession and Beyond by Nicholas Barr on page 29
- Governance and Politics of China (Comparative Government and Politics) by Anthony Saich in Back Matter
- Economic Dynamics in Transitional Economies: The 4-P Governments, the Eu Enlargement, and the Bruxelles Consensus by Bruno Sergi in Back Matter
- Balancing Protection and Opportunity: A Strategy for Social Protection in Transition Economies by World Bank in Back Matter
- Understanding China and India: Security Implications for the United States and the World (Praeger Security International) by Rollie Lal in Back Matter
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