Market-oriented Systemic Transformations in Eastern Europe

Problems, Theoretical Issues, and Policy Options

  • Paul J. J. Welfens

Table of contents

  1. Front Matter
    Pages I-XII
  2. Paul J. J. Welfens
    Pages 45-89
  3. Paul J. J. Welfens
    Pages 149-210
  4. Back Matter
    Pages 245-263

About this book


Socialist economies in Eastern Europe have collapsed and em- barked upon market-oriented reforms. The causes of the demise of centrally planned economies are analyzed and the basic challenges of systemic tranformation discussed. Negative income and wealth effects as well as distribution issues make adjustment extremely difficult. The fundamental roles of privatization and foreign investment are adressed. Foreign economic liberalization is considered to be of centralimportance for a growth-oriented adjustment path in a stage of conflict-prone policy and options. Politico-economic aspects of the new European developments in addition to North-South issues are analyzed. Difficult choices await decison-makers in economic policy and the business community in Eastern Europe and in leading market economies.


Eastern Europe Economic Systems IS-LM Inflation Market Economy Marktwirtschaft Osteuropa Stagnation Systemic Transformation Systemtransformation Wirtschaftssysteme centrally planned economy

Authors and affiliations

  • Paul J. J. Welfens
    • 1
  1. 1.Department of EconomicsUniversity of MünsterMünsterGermany

Bibliographic information

  • DOI
  • Copyright Information Springer-Verlag Berlin Heidelberg 1992
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-642-63482-6
  • Online ISBN 978-3-642-58140-3
  • Buy this book on publisher's site