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The Savings Collapse During the Transition in Eastern Europe
Author: Cevdet Denizer
Publisher: World Bank Publications
Published: 2000
Total Pages: 20
ISBN-13:
DOWNLOAD EBOOK →The transition economies of Eastern Europe almost uniformly experienced a precipitous plunge in savings rates - from levels above 30 percent of GDP to levels about half that - early in the transition, before rebounding slightly. Did savings collapse because involuntary savings were eliminated (when goods became available for purchase) or because of a change in equilibrium savings, reflecting the changed economic circumstances and long-term prospects?
The Savings Collapse During the Transition in Eastern Europe
Author: Cevdet Denizer
Publisher:
Published: 2016
Total Pages: 14
ISBN-13:
DOWNLOAD EBOOK →The transition economies of Eastern Europe almost uniformly experienced a precipitous plunge in savings rates - from levels above 30 percent of GDP to levels about half that - early in the transition, before rebounding slightly. Did savings collapse because involuntary savings were eliminated (when goods became available for purchase) or because of a change in equilibrium savings, reflecting the changed economic circumstances and long-term prospects?Denizer and Wolf assess the presence and extent of involuntary savings by comparing the predicted savings rates of market economies with those of the pre-transition economies. On balance, predicted savings rates fell short of actual savings rates, especially for the former Soviet Union and the Baltics - providing some support for the notion of excessive pre-transition savings.Comparing the savings behavior of market economies and transition economies, they found substantial similarities, except for a negative link between savings and GDP growth. As the fastest-growing transition economies are at the bottom of the adjustment J-curve, the finding is consistent with consumption smoothing.Finally, they explored whether differences in the extent of economic liberalization affected savings rates in the cross-section of transition economies. They found that liberalization is associated with lower savings, with a one-year lag. To the extent that liberalization is perceived as an indicator of likely future growth, this behavior is consistent with smoothing in the face of a J-curve change in output.This paper - a product of the Poverty Reduction and Economic Management Sector Unit, Europe and Central Asia Region - is part of a larger effort in the region to understand the determinants of savings during the transition to a market economy. Cevdet Denizer may be contacted at [email protected].
The Transition in Eastern Europe, Volume 1
Author: Olivier Jean Blanchard
Publisher: University of Chicago Press
Published: 2008-04-15
Total Pages: 288
ISBN-13: 0226056813
DOWNLOAD EBOOK →When communism fell in 1989, the question for most Eastern European countries was not whether to go to a market economy, but how to get there. Several years later, the difficult process of privatization and restructuring continues to concern the countries of the region. The Transition in Eastern Europe, Volumes 1 and 2 is an analysis of the experiences of various countries making the transition to market economies and examines the most important challenges still in store. Volume 1, Country Studies, gives an in-depth, country-by-country analysis of various reform experiences, including historical backgrounds and discussions of policies and results to date. The countries analyzed are Poland, Czechoslovakia, Hungary, eastern Germany, Slovenia, and Russia. Written by leading economists, some of whom helped shape local and national reforms, this volume identifies common progress, common difficulties, and tentative solutions to the problems of economic transition. Volume 2, Restructuring, focuses on specific issues of transition, including how to design labor market institutions, privatization, new fiscal structures, and bankruptcy laws; how to reorganize foreign trade; and how to promote foreign direct investment. The articles, written by experts in the field, will be of direct help to those involved in the transition process. These volumes provide a standard reference on economic transition in the region for policymakers in Eastern Europe and in western countries, for international agencies concerned with the transition process, and for anyone interested in learning about the dramatic changes that have recently occurred in Eastern Europe.
The Political Economy of Transition in Central and Eastern Europe
Author: Jens Bastian
Publisher: Routledge
Published: 2019-06-04
Total Pages: 194
ISBN-13: 0429797249
DOWNLOAD EBOOK →First published in 1998, this volume contributes to the debate after the fall of the Soviet Union on the transition of Eastern European, former Soviet countries to a market economy. The transition was an enterprise as daring in practice and historically unprecedented as it is an analytical laboratory subject to constant reflection. The first two chapters address foreign direct investment in Central and Eastern European countries. The rebuilding of social insurance systems is then addressed, with a focus on state pension schemes. The subsequent two chapters examine the political and demographic features of transition countries, highlighting media reform as a key aspect for the consolidation of a democratic, law-based, market economy and society. Focus then turns to Poland, the country which is considered to display the most progress in the political economy of transition. Finally, the controversial issue of the electoral successes of former Communist parties in Central and Eastern Europe is discussed.
The Transition in Eastern Europe, Volume 2
Author: Olivier Jean Blanchard
Publisher: University of Chicago Press
Published: 2007-12-01
Total Pages: 388
ISBN-13: 0226056821
DOWNLOAD EBOOK →When communism fell in 1989, the question for most Eastern European countries was not whether to go to a market economy, but how to get there. Several years later, the difficult process of privatization and restructuring continues to concern the countries of the region. The Transition in Eastern Europe, Volumes 1 and 2 is an analysis of the experiences of various countries making the transition to market economies and examines the most important challenges still in store. Volume 1, Country Studies, gives an in-depth, country-by-country analysis of various reform experiences, including historical backgrounds and discussions of policies and results to date. The countries analyzed are Poland, Czechoslovakia, Hungary, eastern Germany, Slovenia, and Russia. Written by leading economists, some of whom helped shape local and national reforms, this volume identifies common progress, common difficulties, and tentative solutions to the problems of economic transition. Volume 2, Restructuring, focuses on specific issues of transition, including how to design labor market institutions, privatization, new fiscal structures, and bankruptcy laws; how to reorganize foreign trade; and how to promote foreign direct investment. The articles, written by experts in the field, will be of direct help to those involved in the transition process. These volumes provide a standard reference on economic transition in the region for policymakers in Eastern Europe and in western countries, for international agencies concerned with the transition process, and for anyone interested in learning about the dramatic changes that have recently occurred in Eastern Europe.
Transformation and Crisis in Central and Eastern Europe
Author: Bruno Dallago
Publisher: Routledge
Published: 2016-05-05
Total Pages: 464
ISBN-13: 1317625234
DOWNLOAD EBOOK →The global financial crisis has provided an important opportunity to revisit debates about post-socialist transition and the relative success of different reform paths. Post-communist Central and Eastern Europe (CEECs) in particular show resilience in the wake of the international crisis with a diverse range of economic transformations. Transformation and Crisis in Central and Eastern Europe offers an in depth analysis of a diverse range of countries, including Poland, Hungary, Russia, Ukraine, Czech Republic and Slovakia. This volume assesses each country’s institutional transformations, geopolitical policies, and local adaptations that have led them down divergent post-communist paths. Chapters take the reader systematically through the evolution of former communist national economic systems, before ending with lessons and conclusions for the future. Subsequent chapters demonstrate that economic performance crucially depends on achieving a sustainable balance between sound institutional design and policies on one hand, and localization on the other. This new volume from a prestigious group of academics offers a fascinating and timely study which will be of interest to all scholars and policy makers with an interest in European Economics, Russian and East European Studies, Transition Economies, Political Economy and the post-2008 world more generally.
First the Transition, Then the Crash
Author: Gareth Dale
Publisher: Pluto Press
Published: 2011-11-15
Total Pages: 0
ISBN-13: 9780745331164
DOWNLOAD EBOOK →The 1989-91 upheavals in Eastern Europe sparked a tremendous acceleration of change. With the reverberations throughout the region of the global crisis of 2008-10, a new phase has begun. This volume identifies and explores its major features. The book focuses on the relationships between geopolitics, the world economy, and class restructuring. The authors, from Eastern and Western Europe, have been shaping scholarly debate about Eastern Europe’s entry into the global political economy. Together, their contributions show us a world far away from the simple neoliberal conceit of creaking communist economies witnessing rapid transitions to efficient markets and political liberty. Neoliberal interpretations of the global crash are also challenged. With chapters covering the Balkans, Czech Republic, Hungary, Latvia, Poland, Russia, and Ukraine, this is a thorough and complete survey of the brutal reality of capitalism for Eastern Europe.
Transition Economies
Author: Aleksandr V. Gevorkyan
Publisher: Routledge
Published: 2018-04-17
Total Pages: 272
ISBN-13: 1317567943
DOWNLOAD EBOOK →This interdisciplinary study offers a comprehensive analysis of the transition economies of Central and Eastern Europe and the former Soviet Union. Providing full historical context and drawing on a wide range of literature, this book explores the continuous economic and social transformation of the post-socialist world. While the future is yet to be determined, understanding the present phase of transformation is critical. The book’s core exploration evolves along three pivots of competitive economic structure, institutional change, and social welfare. The main elements include analysis of the emergence of the socialist economic model; its adaptations through the twentieth century; discussion of the 1990s market transition reforms; post-2008 crisis development; and the social and economic diversity in the region today. With an appreciation for country specifics, the book also considers the urgent problems of social policy, poverty, income inequality, and labor migration. Transition Economies will aid students, researchers and policy makers working on the problems of comparative economics, economic development, economic history, economic systems transition, international political economy, as well as specialists in post-Soviet and Central and Eastern European regional studies.
The Political Economy of the Transition Process in Eastern Europe
Author: Laszlo Somogyi
Publisher: Edward Elgar Publishing
Published: 1993-01-01
Total Pages: 400
ISBN-13: 9781782543947
DOWNLOAD EBOOK →'This well-produced book is a worthy contribution to the burgeoning literature on the transition. The editor provides a useful introduction.' - Ian Jeffries, The Economic Journal '. . . provides a useful and readable introduction to many of the most important issues in the "transition process".' - Hugo Radice, Economics of Transition Why has industrial output fallen in Eastern Europe and is further decline inevitable? What lessons can be learned from the stablilization programmes of the first two years of the post-communist era? Should the transitional economies privatize quickly and where do they find the missing institutions essential to the proper working of capitalism? In seeking answers to these and other questions, The Political Economy of the Transition Process in Eastern Europe analyses the difficulties faced by nations attempting to move from a planned to a market economy with special emphasis on issues of macroeconomic stabilization and institutional change.
