Macroeconomic Instability in Post-Communist Countries

Erscheinungsjahr 1998
ISBN: 978-0-19-829048-3
Verlag: Oxford University Press

Buch, Englisch, 396 Seiten, Format (B × H): 145 mm x 224 mm, Gewicht: 628 g

The destruction or collapse of a social system is bound to be cataclysmic, and the collapse of the communist system which has played itself out at across twenty-eight countries is no exception. The political, social and economic relations which governed these societies are all being simultaneously changed in a fundamental way. In such a context the presence of macroeconomic instability is hardly surprising. Yet, it is the job of economists to try to identify the specific causes of economic phenomena, even when they are caught up in the whirlwind of history.

This book, by a participant in the events, examines the causes of very high inflation and large fall in statistically measured output in the post-Communist countries of Central and Eastern Europe and the former Soviet Union. It focuses on the fundamental nature of the shift from supply constrained economies (in which there is no unemployment) to ones which are constrained by demand; on the reconstruction of monetary and credit systems; and on the central role of macroeconomic stabilization and generalised liberalisation in creating the basis for private sector growth. Many of the chapters have grown out of policy debates in which the author participated.

Autoren/Hrsg.

Rostowski, Jacek

Fachgebiete

• Sozialwissenschaften Politikwissenschaft Politische Ideologien Marxismus, Kommunismus
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Makroökonomie
• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft
• Sozialwissenschaften Politikwissenschaft Regierungspolitik Wirtschafts- und Finanzpolitik
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Mikroökonomie
• Wirtschaftswissenschaften Volkswirtschaftslehre Wirtschaftspolitik, politische Ökonomie

Inhaltsverzeichnis

- 1: Introduction: Macroeconomic Instability in Post-Communist Countries, Suggested Causes and Proposed Cures

- PART ONE: Crisis and Stabilization in Central Europe

- 2: Market Socialism is not Enough: Inflation vs. Unemployment in Reforming Communist Economies

- 3: Stopping Very High Inflations in Reforming and Post-Communist Economies

- 4: Hyperinflation and Stabilization in Serbia Montenegro, 1992-1994

- 5: Stabilization and the Banking Sector: Switching from Bad to Good Credit in Post-Communist Economies

- 6: Labour Markets and Wages Policies during Economic Transition

- PART TWO: Disintegration and Inflation in the Former Soviet Union

- 7: What Went Wrong: the Reasons for the Failure of Stabilization in Russia in 1992 (with Marek Dabrowski)

- 8: The Inter-enterprise Debt Explosion in the Former Soviet Union and Romania: Causes, Consequences, Cures

- 9: Proposal for a Currency Board based Parallel Currency in Latvia

- 10: Dilemmas of Monetary and Financial Policy in Post-Stabilization Russia

- PART THREE: Laying the Foundations of Long-Term Stability

- 11: Creating Stable Monetary Systems in Post-Communist Economies

- 12: Fiscal Crises during Economic Transition in East-Central Europe: an Overview (with Kálmán Mizsei)

- 13: Universal Banking and Economic Growth in Post-Communist Economies

- 14: Private Sector Development, Structural Change and Macroeconomic Stabilization: the Case of Poland 1988-93

Über Autor(innen)

Jacek Rostowski is Professor of Economics and Head of the Economics Department at the Central European University, Budapest. He was Economic Adviser to the Polish Government during 1989-91, and has also advised the authorities in Russia, Latvia and Ukraine.