Making markets : economic transformation in Eastern Europe and the post-Soviet states /

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Bibliographic Details
Imprint:New York : Council on Foreign Relations Press, c1993.
Description:ix, 238 p. : ill. ; 23 cm.
Subject:Mixed economy -- Europe, Eastern
Mixed economy -- Former Soviet republics.
Economic history.
Economic policy.
Mixed economy.
Europe, Eastern -- Economic policy -- 1989-
Former Soviet republics -- Economic policy
Europe, Eastern -- Economic conditions -- 1989-
Former Soviet republics -- Economic conditions
Europe, Eastern.
Soviet Union -- Former Soviet republics.
Format: Print Book
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Other authors / contributors:Islam, Shafiqul
Mandelbaum, Michael
ISBN:087609129X : $14.95
Notes:"Council on Foreign Relations books"--T.p. verso.
Includes bibliographical references and index.
Review by Choice Review

This book is meant to be a primer for noneconomist students of post-communist societies who are bewildered by the "confusing and sometimes incomprehensible debates among economists." Part of the confusion stems from the inextricable intertwining of economic and political reforms: the reforming state can no longer dictate economic results and the market is not yet sufficiently well established to provide the incentives necessary for vigorous or stable growth. Although no one denies the necessity of macroeconomic stabilization, liberalization, privatization, and the development of a market-supporting institutional infrastructure, divergence is widest when it comes to explaining the deep and persistent economic contraction associated with the transition. R. Portes takes the reader from central planning to a market economy, while P. Marer examines economic transformation in Central and Eastern Europe. R. Campbell expands the horizon to include economic reform in the USSR and its successor states, while J. Sachs comments on Western financial assistance and Russia's reforms. As one would expect from these distinguished authors, the articles are first-rate, as is the introduction by Mandelbaum and the conclusion, "Problems of Planning a Market Economy," by Islam. Compare with Reform in Eastern Europe by Olivier Blanchard et al. (1989). All collections B. B. Brown Jr.; Southern Oregon State College

Copyright American Library Association, used with permission.
Review by Choice Review