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Titlebook: Lessons from the Economic Transition; Central and Eastern Salvatore Zecchini Book 1997 Springer Science+Business Media New York 1997 commu

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Adjustment without recession: a case study of Hungarian stabilizationOn 12 March 1995, Hungary’s government and central bank announced a tough programme of adjustment and stabilization. (I will refer to this by the abbreviation ASP 95..) The process of implementing this programme had been taking place for 15 months at the time of this study, which is an attempt to assess and take stock of its results so far.
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The evolution of bank credit quality in Romania since 1991This paper examines whether the economic reforms which started in 1990 have been effective in tightening financial discipline on Romanian state-owned enterprises. Our main conclusion is that the Romanian banking systems criteria for loans show few signs of improvement since the beginning of the reform process.
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The transition in Eastern Europe and the former Soviet Union: some strategic lessons from the experiPresident of Russia, Yeltsin, announced a drastic economic reform programme, under the Gaidar team. Thus the momentous events of these extraordinary two years embodied four inter-related and fundamental elements: the arrival of political democracy; the disintegration of an empire; the collapse. of a
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Comparing two Great Depressions: 1929–33 to 1989–93viour of investment shows that in a number of countries the output depression was the result of profound restructuring of the economy, following on shifts in demand resulting from price and trade liberalisation, rather than the result of a reduction in aggregate demand.
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