Introduction: Issues, Structure and Policy Recommendations

Christos Papazoglou and Eric Pentecost

Chapter 1 in Exchange Rate Policies, Prices and Supply-Side Response, 2001, pp 1-8 from Palgrave Macmillan

Abstract: Abstract The significant fall in output was a common experience of all transition economies of Central and Eastern Europe in the early 1990s. This fall in output was to a large extent unavoidable due to the destruction of the existing structure of production as these economies moved to new, market-guided activities. While the output decline has been a common event in all these countries, the extent of output recovery, as the transition process has progressed, has not been the same. That is, while most countries have followed qualitatively the same steps, their growth paths have deviated significantly. There are countries with quite impressive growth performance, while others have lagged significantly behind.

Keywords: Exchange Rate; Real Exchange Rate; Transition Economy; Exchange Rate Regime; Exchange Rate Change (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1057/9780230554535_1

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