Economic Dynamics in Transitional Economies

Learn more about the transitional economies of Central and Eastern Europe!

This book examines the economic dynamics of Central and Eastern European post-Communist countries. It illuminates the paths these countries are taking toward restructuring their markets, increasing international trade, and bettering their connections with the European Union and other countries. Beginning with a comparative analysis of the three "P-governments"—Pigouvian, Partizan, and Paternalistic—and continuing with a discussion of the interrelated political and economic difficulties of transition, author Bruno Sergi proposes a surprising solution. Inspired by the Bruxelles consensus, he proposes that the European Commission should become a fourth "P-government," replacing the role formerly played by the Washington consensus in the restructuring of post-Communist economies.

Economic Dynamics in Transitional Economies also explores:

• regional comparative macroeconomics
• the aftereffects of the Washington Consensus
• integration of Eastern and Western European economies
• interrelations between national and regional monetary activity
• political and economic policy reform
• involvement of European Union member countries

Sergi (political science, U. of Messina, Italy) describes his political economy of transitional economies of Central and Eastern Europe. He applies game theory to macroeconomics and analyzes the emergence of inflation-adverse, unemployment- adverse, and soft-budget-constraint type governments. He examines fiscal and monetary aspects of political economy and attempts to offer explanations for the "syndromes" that marred the transition economies throughout the 1990s. Finally, he looks at the likely impact of European institutions and Europeanization. Annotation ©2004 Book News, Inc., Portland, OR