Economic Transition in Eastern Europe and Russia

Economic Transition in Eastern Europe and Russia

Realities of Reform

Editor: Edward P. Lazear
ISBN: 978-0-8179-9332-0
Publication Date: 3/1/1995
Pages: 448

Five years after the dramatic fall of communism in Eastern Europe, there is an opportunity to evaluate the efficacy of different forms of liberalization.

The most obvious and controversial difference between reform strategies is in the pace of transition. Previous theories of development have focused on the slow growth of Third World countries into modern economies. Some experts have ascribed current failures in Eastern Europe to the instantaneous liberalization of economies and the forceful application of tight monetary policies.

But this theory is contradicted by the fact that the most successful Eastern European countries, Poland and the Czech Republic, are those that initiated the most dramatic and rapid reforms. The authors of Economic Transition show how educate, relatively modern societies can make major changes in political and economic institutions almost overnight.

Economic Transition in Eastern Europe and Russia is a work of substantial academic merit that is also accessible to the interested layperson. Thirteen essays by acknowledged economic experts explore the rapid changes in the transition economies of Eastern Europe, with discussions on political and economic freedom, monetary control and privatization, labor markets and social safety nets, and taxation and crime.

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Edward P. Lazear

Edward P. Lazear, Morris Arnold Cox Senior Fellow at the Hoover Institution, was named to President Bush's new advisory Tax Reform Panel. Lazear will work with nine other panel members to look into revenue-neutral policy options for reforming the Federal Internal Revenue Code. Lazear is also the Jack Steele Parker Professor of Human Resources, Management and Economics (1995) at Stanford University's Graduate School of Business, where he has taught since 1992. He taught previously at the University of Chicago's Graduate School of Business, where he was the Brown Professor of Urban and Labor Economics.

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