Macroeconomic Stabilization in Transition Economies [Paperback]

Explores the policies used in post-socialist countries of Eastern Europe and the former Soviet Union to stop the fall in output after Communism's collapse.The essays in this volume explore the special type of policies that were needed in the post-socialist countries of Eastern Europe and the Former Soviet Union in order to reduce inflation and to stop the fall in output that followed the collapse of Communism. The book contains a number of general studies that discuss the type of reforms needed and how they condition policies and analyze the aggregate relationship between reducing inflation, implementing structural reforms, and renewing the process of growth.The essays in this volume explore the special type of policies that were needed in the post-socialist countries of Eastern Europe and the Former Soviet Union in order to reduce inflation and to stop the fall in output that followed the collapse of Communism. The book contains a number of general studies that discuss the type of reforms needed and how they condition policies and analyze the aggregate relationship between reducing inflation, implementing structural reforms, and renewing the process of growth.The essays in this volume explore the special type of reforms and policies that are required in the post-socialist countries of Eastern Europe and the Former Soviet Union in order to reduce inflation and to stop the fall in output that followed the collapse of Communism. The articles collected in this book study in detail both the analytical underpinning of this process, the overall relationships among stabilization, reforms, and growth, and the specific stabilization experience in a number of countries. In addition, the volume discusses some of the central policy issues related to enterprise behavior in post-socialist countries and looks at the longer-run dimensions of a successful transition.Preface; Introduction: Stabilization after five years of reform: Issues and experiences Mario I. Blejer and Marko Skl«