Laura D'Andrea Tyson

Strategic Policy for National Competitiveness

Creating Advantage

John Zysman

Chalmers Johnson

The Real Story of why Japan Works

Politics and Productivity

Egon Neuberger

The Impact of International Economic Disturbances on the Soviet Union and Eastern Europe: Transmission and Response focuses on the transmission of economic disturbances to the Soviet Union and Eastern Europe, as well as the policy responses of both to such disturbances. Topics covered include external inflation, balance of trade, and resource allocation, along with the impact of the world economic crisis on intra-CMEA trade. This book is comprised of 16 chapters and begins with an overview of major international economic disturbances during the first half of the 1970s and their transmission to the Soviet Union and Eastern European countries. The following chapters examine the adjustment made by East European economies to external disturbances; external inflation, balance of trade, and resource allocation in small centrally planned economies; whether the Soviet Union was affected by the international economic disturbances of the 1970s; and the relationship between foreign trade and the Soviet economy. The transmission of international disturbances to Yugoslavia, Hungary, and Poland and the responses of each country are also discussed. The final chapter assesses how the energy crisis and Western ""stagflation"" have affected the nature of Soviet-East European political relations in the years 1956-1973. This monograph will be of interest to economists and economic policymakers.

Transmission and Response

The Impact of International Economic Disturbances on the Soviet Union and Eastern Europe

Rand Corporation

This report uses case studies of Hungary and Romania to examine how individual East European countries adjusted to the economic shocks of 1973-1975 and 1978-1982 caused by slowdowns in world trade. In the short term, Hungary's growing economic difficulties, though externally caused, will continue, growth rates will be depressed, and consumption levels will stagnate. For the long term, its economic growth will depend on continued economic reform. By contrast, Romania's growth slowdown was mainly due to internal factors--its rigid central planning system and its development strategy of extensive investment. Its future growth prospects will depend more heavily on efficient resource use. Finally, U.S.-Soviet relations will influence adjustment prospects in Hungary and Romania: the worse these relations, the more pressure will be placed on private lenders to reduce their exposure in Eastern Europe, tighter export controls will limit East European access to Western technology, and Soviet tolerance for meaningful economic reform in Eastern Europe will be reduced.

Economic Adjustment in Eastern Europe

Laura D'Andrea Tyson

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