Andras Koves - Foreign Economic Liberalization: Transformations in Socialist and Market Economies

Transformations in Socialist and Market Economies

Edited by
Andrs Kves
and Paul Marer

First published 1991 by Westview Press

Published 2018 by Routledge
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Copyright 1991 by Taylor & Francis

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A CIP catalog record for this book is available from the Library of Congress.

ISBN 13: 978-0-367-01623-4 (hbk)

This book is based in large part on the papers and formal discussions originally presented at the Conference on Attempts at Liberalization: Hungarian Economic Policy and International Experience, held in Budapest in November, 1989. The Conference brought together specialists on economic systems and economic policy as well as on international trade from Hungary and from all over the world. Among the 300 participants were members of the academic community from various universities, colleges, and research institutes, as well as representatives of the business world, the banking community, governments, and international organizations. The Conference was generously supported by the United Nations Development Program, the Ministry of Trade of Hungary, the National Bank of Hungary, the Commercial and Credit Bank of Budapest, the Hungarian Credit Bank, and the Hungarian Economic Association. The Conference was organized by the KOPINT-D ATORG Institute for Economic and Market Research and Informatics in Budapest. Special thanks are due to Jnos Dek, General Director of KOPINT-DATORG, for his advice and support. Several universities and other institutions also made contributions by providing released time and covering travel expenses for their staff members. We express our appreciation to all these organizations.

The editors are deeply grateful to the formal participants in the Conference, especially to RezsNyers, Chairman of the Committee on Economic Reform of the Hungarian Government at the time of the Conference, and to those who served as chairpersons: Hasan Ersel of the Central Bank of the Republic of Turkey, Lszl Szamuely of the KOPINT-DATORG Institute, Ed A. Hewett of the Brookings Institution, Professors Jeffrey D. Sachs of Harvard University and Rolf J. Langhammer of the Kiel Institute of World Economics.

For helping to plan the Conference and subsequently working on the volume, Judit Bernyi, Katalin Nagy, Klra Ungr, Katalin Tamon and many other members of the KOPINT-DATORG Institute deserve special acknowledgment and thanks.

A somewhat expanded version of this book will appear later this year in Hungarian, published by Kzgazdasgi s Jogi Knyvkiad and KOPINT-DATORG in Budapest. The Hungarian version includes additional chapters and, in some cases, the longer versions of several of the chapters. For example, whereas this English version makes only sparing references to the literature in other languages, the Hungarian volume offers a more comprehensive compilation of the literature in Hungarian and other languages.

Many individuals contributed considerable time and effort to enable the editors to blend into a cohesive volume the revised versions of some of the Conference contributions and the additional papers and comments solicited subsequently. In particular, we wish to thank our contributors who were gracious enough to put up with our numerous suggestions for revisions. We owe much to the editing of Elizabeth Marer, and to Melanie Kearns at Indiana University, who typed the manuscript and then prepared it, through several stages, for camera-ready copy, undertaking much of the work on very short notice. Susan McEachern at Westview Press was most helpful with her suggestions and for seeing the work through its various stages of publication.

The publication of this book was made possible by a grant from the National Council for Soviet and East European Research, which provided released time to the U.S. co-editor. We also acknowledge a publication preparation grant from the Indiana Center for Global Business of the School of Businessof Indiana University, and thank its director, Professor Lawrence S. Davidson, for the Center's timely contribution.

Andrs Koves
Paul Marer

Bela Balassa Professor of Political Economy, Johns Hopkins University; Consultant, The World Bank

Joseph Y . Battat Institutional Development Officer, Foreign Investment Advisory Service, The World Bank

Armeane M . Choksi Director, Country Department I, Latin America and the Caribbean Region, The World Bank

Lszl Csaba Principal Economist, Institute for Economic, Market Research and Informatics, Budapest

Guillermo de la Dehesa Chief Executive Officer, Banco Pastor, Madrid

Jnos Gcs Head of Research Department, Institute for Economic, Market Research and Informatics, Budapest

Nadav Halevi Professor of Economics, Hebrew University, Jerusalem

Andrs Inotai Economist, Trade Policy Division, The World Bank

Bla Kdr Minister of International Economic Relations of the Government of Hungary, Budapest

Andrs Kves Deputy Director, Institute for Economic, Market Research and Informatics, Budapest

Rolf J. Langhammer Chief of Research Division, Kiel Institute of World Economics, Kiel

Kamilla Lnyi Principal Economist, Institute for Economic, Market Research and Informatics, Budapest

Neng Liang Assistant Professor of International Business, Loyola College, Baltimore

Paul Marer Professor of International Business, Indiana University, Bloomington

Michael Michaely Lead Economist, Brazil Department, The World Bank; Aron and Michael Chilewich Emeritus Professor of International Trade, Hebrew University, Jerusalem

Andrs Nagy Head of Department, Institute of Economics, Hungarian Academy of Sciences, Budapest

Cbot Oblth Head of Research Department, Institute for Economic, Market Research and Informatics, Budapest

Demetris Papageorgiou Chief, Trade, Finance and Industry, Brazil Department, The World Bank

Yung Chul Park Professor of Economics, Korea University, Seoul

Dwight H. Perkins Director, Harvard Institute for International Development, Harvard University, Cambridge

William R. Rhodes Senior Executive-International, Citibank, New York