This thought-provoking book investigates the political and economic transformation that has taken place over the past three decades in Central, Eastern and Southeastern Europe (CESEE) since the fall of the Iron Curtain. Through an examination of both the successes and shortcomings of post communist reform and the challenges ahead for the region, it explores the topical issues of economic transition and integration, and highlights lessons to be learned.

The economies of Eastern European countries, under communist rule for the last four decades or more, are presently faced with a number of interdependent but yet distinct policy issues. The issues concern the normal structural patterns for Eastern Europe, the size of transitional gaps, the choice between steady and shock approaches, the scale and scope of privatization and the form and pace of external re-integration in the world economy. The present volume is devoted to an exposition of these policy issues and the propagation of several analytical devices which are found useful. The volume reports on the construction and analysis of six Social Accounting Matrices for Eastern and Western European countries. Corresponding models featuring general equilibrium and structural restrictions for Eastern Europe are found relevant in this context. The research underlying the contributions to this volume was supported by a generous grant from the Commission of the European Communities in the context of the Community Action for Cooperation in the field of Economics (ACE).

After the breakdown of socialism in Central and Eastern Europe, the role of education systems in preparing students for the "real world" changed. Though young people were freed from coercive state institutions, the shift to capitalism made the transition from school to work much more precarious and increased inequality in early career outcomes. This volume provides the first large-scale analysis of the impact social transformation has had on young people in their transition from school to work in Central and Eastern European countries. Written by local experts, the book examines the process for those entering the workforce under socialism, during the turbulent transformation years, in the early 2000s, and today. It considers both the risks and opportunities that have emerged, and reveals how they are distributed across social groups. Only by studying these changes can we better understand the long-term impact of socialism and post-socialist transformation on the problems young people in this part of the world are facing today.

Privatization policies are the centrepiece of the historically unique transformation of the centrally planned, into market economies. Yet the peculiarities of the privatization process in Eastern Europe are little understood in the West because of differences in historical, socio-political and economic contexts relative to Western experience. Most research on privatization in the West is rather theoretical and thus pays insufficient attention to these contexts, perhaps because their importance is not widely appreciated and because there has been little information about them available. Moreover, the significant differences among East European countries in contexts and in policies are not well-understood even within the region, again because of a lack of information.

In Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.

Annotation This volume is one in a series initiated by the United Nations University Institute of Advanced Studies on the inter-relationship between globalisation and urban transformation. It identifies and describes the inter- and intra-urban transformations of Central and Eastern European cities and considers their pre-1945 historic legacies, the socialist period, and their contemporary transition towards market oriented and democratic systems. The dramatic changes since 1989 including the collapse of Communist ideology, the break-up of the Soviet Union, Czechoslovakia and Yugoslavia, the end of the Cold War and the impact of globalisation and European integration, have reconfigured this region and affected their re-integration into European and global networks. This book first examines the similarities and differences between significant Central and Eastern European cities, comparing the differing patterns of historical context and socialist legacies before 1990, and the impacts of internal and external forces on re-shaping these cities and their paths of transformation since 1990. It also examines the role of contemporary planning within the overall development of Central and Eastern European cities. The conclusion demonstrates the similarities and differences between Central and Eastern European cities and their re-integration into global networks.