Stabilization and Reform in Eastern Europe

Michael Bruno

in Crisis, Stabilization, and Economic Reform

Published in print August 1993 | ISBN: 9780198286639
Published online September 2006 | e-ISBN: 9780191603839 | DOI:

Series: Clarendon Lectures in Economics

 Stabilization and Reform in Eastern Europe

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This chapter considers the most recent stabilization and reform experience in six Eastern European countries, starting with the earlier Yugoslav and Polish shock programmes of 1990 and followed by Czechoslovakia, Bulgaria, and Romania in 1991. Hungary, which had a much longer and earlier reform experience, also carried out a successful and more conventional stabilization programme in 1991. The analysis of the dramatic developments in Eastern Europe focuses on the underlying similarities of the macro-economics of stabilization across countries and regions, and attempts to isolate the particular problems that are common to Eastern and Central Europe but substantially different from the earlier experience elsewhere.

Keywords: inflation; Yugoslavia; Poland; Hungary; Czechoslovakia; Romania; Bulgaria; price shock; budget

Chapter.  17523 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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