POLITICAL ECONOMY OF STABILIZATION AND STRUCTURAL ADJUSTMENT
Bela Greskovits with Attila Folsz
Term: Fall and Winter 1994
Department of Political Sciences, Budapest
CENTRAL EUROPEAN UNIVERSITY


Course Summary

The course is designed to help to develop an understanding of the principles of the interaction between politics and economic policy making, focusing on specific problems, raised by the dual (political and economic) transformations of the 1980's.

First Semester

We shall concentrate on both the empirics, collected from the history of Third World stabilization and economic adjustment programs, and the theories analyzing and interpreting the experiences.

The lectures and seminars will provide a conceptual, and analytic underpinning for a better understanding of the political economy of the PostCommunist "Great Transformation", that will be the topic of the second semester.

While the lectures will give a basic insight, it will be the goal of the seminars to deepen the understanding, by an active and creative exploration of a carefully selected set of literature.

Requirements

Students are required to attend regularly and to participate actively in the course.
Each student will be requested to pass a brief written test after every four lectures.
Students are also requested to prepare an essay by the end of the first semester, related to one or some of the topics of the course.

Grading

In class activity: 30%, Tests: 30%, Final essay: 40%

Syllabus:

Week 1: The 60's, The 70's and The 80's - and the crisis in between.
(How the Crisis affected Ruling Ideologies, Regnant Policies for Development, and the Rise and Decline of Systems and Nations)
Obligatory Readings:
Nelson, Joan, M. (1990) "Introduction: The Politics of Economic Adjustment in Developing Nations" in Economic Crisis and Policy Choice. The Plitics of Adjustment in the Third World. Edited by Joan M. Nelson, (Princeton University Press, Princeton, New Jersey, 1990).
Readings Recommended:
Kahler, Miles (1990) "Orthodoxy and Its Alternatives: Explaining Approaches to Stabilization and Adjustment" in Economic Crisis and Policy Choice. The Politics of Adjustment in the Third World. Edited by Joan M. Nelson, (Princeton University Press, Princeton, New Jersey, 1990).
Maier, Charles S. (1991) "Why did Communism Collapse in 1989?" Harvard University, Program on Central and Eastern Europe Working Paper Series No. 7. 148.

Week 2: What Washington means by Policy Reform (I)?
(The Regnant Policy-Mix for Stabilization)
Obligatory Readings
Blanchard, Olivier, Rudiger Dornbusch, Paul Krugman, Richard Layard and Lawrence Summers, (1991) ''Reform in Eastern Europe" (The MIT Press, Cambridge, Massachusetts London, England, 1991)
Sachs Jeffrey, (1990) "Eastern Europe's Economies: What is to be done?" The Economist, Jan. 13. 1990
Readings Recommended:
Allen, Mark (1992) "IMF-Supported Adjustment Programs in Central and Eastern Europe"(George Winckler, ed. Central and Eastern Europe Roads to Growth. IMF and the Austrian National Bank Washington 1992)
Kiguel, Miguel A., Liviatan, Nissan (1989) The Old and the New in Heterodox Stabilization Programs. Lessons from the 1960's and the 1980's (PPR Working Papers, The World Bank, Washington D.C., 1989)
Sachs, Jeffrey D. (1987) Trade and Exchange Rate policies in GrowthOriented Adjustment Programs (Working Paper No. 2226, National Bureau of Economic Research, Cambridge, Massachusetts, 1987)

Week 3: What Washington means by Policy Reform (II)?
(The Regnant Policy-Mix for Trade Reforms)
Obligatory Readings:
Papageorgiou, Demetrios - Choksi, Armeane M, and Michaely, Michael (1990) "Liberalizing Foreign Trade in Developing Countries. The Lessons of Experience" (The World Bank. Washington D. C.) 1-42.
Readings Recommended:
Rodrik, Dani (1991) "An Introduction to the Political Economy of Trade Liberalization in LDCs" (Prepared for the World Bank Research Project on Political Economy of Structural Adjustment, September 1991. Mimeo) (1-37)

Week 4: International Powers - Domestic Agents?
(How International Influence and Domestic Forces Shape Economic Policies)
Obligatory Readings:
Kahler, Miles (1989) "International Financial Institutions and the Politics of Adjustment" in Fragile Coalitions: The Politics of Economic Adjustment, (Transaction Books, New Brunswick (USA) and Oxford (UK), 1989), Joan M. Nelson and contributors.
Stallings, Barbara (1992) "International Influence on Economic Policy: Debt, Stabilization, and Structural Reform" in The Politics of Economic Adjustment. International Constraints, Distributive Conflicts, and the State, Edited by Stephan Haggard and Robert, R. Kaufman, (Princeton University Press, Princeton, New Jersey, 1992).
Readings Recommended:
Kahler, Miles (1992) "External Influence, Conditionality, and the Politics of Adjustment" in The Politics of Economic Adjustment. International Constraints, Distributive Conflicts, and the State, Edited by Stephan Haggard and Robert, R. Kaufman, (Princeton University Press, Princeton, New Jersey, 1992).
Putnam, Robert D. (1988) "Diplomacy and Domestic Politics: the Logic of Two-Level Games". International Organization 42. 3. Summer
Moran, Theodor, H.(1978) "Multinational Corporations and Dependency: a Dialogue for Dependentistas and Non-Dependentistas" International Organization, Winter, 1978.

Week 5: State: the principal obstacle to development, or a preeminent change agent?
(On the Disputed Role of the State in Economy and the Society)
Obligatory Readings:
Grindle, Merilee S. (1989) "The New Political Economy. Positive Economics and Negative Politics" Policy Planning and Research Working Papers. No. 304. The World Bank.
Readings Recommended:
Evans, Peter (1992) "The State as Problem and Solution: Predation, Embedded Autonomy, and Structural Change" in The Politics of Economic Adjustment. International Constraints, Distributive Conflicts, and the State, Edited by Stephan Haggard and Robert, R. Kaufman, (Princeton University Press, Princeton New Jersey, 1992).
Waterbury, John (1992) "The Heart of the Matter? Public Enterprise and the
Adjustment Process" in The Politics of Economic Adjustment. International Constraints, Distributive Conflicts, and the State, Edited by Stephan Haggard and Robert, R. Kaufman, (Princeton University Press, Princeton, New Jersey, 1992).
Callaghy, Thomas, M. (1989) "Towards State Capability and Embedded Liberalism in the Third World: Lessons for Adjustment" in Fragile Coalitions: The Politics of Economic Adjustment, (Transaction Books, New Brunswick (USA) and Oxford (UK), 1989), Joan M. Nelson and contributors.

Week 6: Political Regimes - Political Efficiency
(Democracies' and Dictatorships' Abilities to Initiate, and Sustain Economic Reforms)
Obligatory Readings:
Haggard, Stephan and Robert R. Kaufman (1989) "Economic Adjustment in New Democracies" in Fragile Coalitions: The Politics of Economic Adjustment, Transaction Books, New Brunswick (USA) and Oxford (UK), 1989), Joan M. Nelson and contributors.
Whitehead, Laurence (1989) "Democratization and Disinflation: A Comparative Approach" in Fragile Coalitions: The Politics of Economic Adjustment, Transaction Books, New Brunswick (USA) and Oxford (UK), 1989), Joan M. Nelson and contributors.
Readings Recommended:
Haggard, S. - Kaufman, R. and Webb, Steven. E. (1991) "Democracy, Dictatorship, and Inflation in Middle - Income Countries" (Paper prepared for presentation at the January 1992 meeting of the American Economic Association. Mimeo.)
Haggard, Stephan and Robert, R Kaufman (1992c) "Economic Adjustment and the Prospects for Democracy" in The Politics of Economic Adjustment. International Constraints, Distributive Conflicts, and the State, Edited by Stephan Haggard and Robert, R. Kaufman, (Princeton University Press, Princeton, New Jersey, 1992).

Week 7: Who pays the costs? Socioeconomic groups, their exposure and defence
(Distributional Effects of Neoclassical Economic Reforms)
Obligatory Readings:
Graham, Carol, (1992) "The Politics of Protecting the Poor During Adjustment: Bolivia's Emergency Social Fund" 140 (Foreign Policy Studies Program. The Brookings Institution. Mimeo). 1- 40.
Graham, Carol, (1991) "From Emergency Employment to Social Investment. Alleviating Poverty in Chile" (The Brookings Institution, Washington DC.)
Readings Recommended:
Nelson, Joan, M. (1992) "Poverty, Equity, and the Politics of Adjustment" in The Politics of Economic Adjustment. International Constraints, Distributive Conflicts, and the State, Edited by Stephan Haggard and Robert, R. Kaufman, Princeton University Press, Princeton, New Jersey, 1992). (221-270)
Przeworski, Adam (1991) "Political Dynamics of Economic Reforms: East and South " (György Szoboszlai ed., Democracy and Political Transformation) Hungarian Political Science Association, Budapest. (21-75)

Week 8: Threats to reforms - and how to deal with them?
(Political Management of Economic Reforms: by Oppression, Compensation, and
Pro-Reform Coalition Building)
Obligatory Readings:
Waterbury, John (1989), "The Political Management of Economic Adjustment and Reform" in Fragile Coalitions: The Politics of Economic Adjustment, (Transaction Books, New Brunswick (USA) and Oxford (UK), 1989), Joan M. Nelson and contributors.) 39-57
Béla Greskovits (1992) "The Use of Compensation in Economic Adjustment Programs" Acta Oeconomica, Vol. 45 (1-2)
Readings Recommended:
Nelson, Joan, M (1989) "The Politics of Pro-Poor Adjustment" in Fragile Coalitions: The Politics of Economic Adjustment, (Transaction Books, New Brunswick (USA) and Oxford (UK), 1989), Joan M. Nelson and contributors.) 95 115.

Week 9: A non-feasible alternative: economic populism.
(Populism in Politics and in the Economy)
Obligatory Readings:
Kaufman, Robert, R and Barbara Stallings, (1991) "The Political Economy of Latin American Populism," in Dornbusch, Rudiger, and Sebastian Edwards, eds., The Macroeconomics of Populism in Latin America. (Chicago/London: The University of Chicago Press)
Dornbusch, Rudiger and Sebastian Edwards (1989) "The Macroeconomics of Populism in Latin America", World Bank Policy, Planning and Research Working Papers 316.
Readings Recommended:
Jeffrey D. Sachs (1990) "Social Conflict and Populist Policies in Latin America. ICS Press San Francisco, California.
Boeckh, Andreas (1993) "Populism in Latin America: Economic Crises and the Rise of New Development Coalitions" Central European University, Political Science Department. Working Paper Series

Week 10: From exclusion and containment to consulted policies and social pacts
(Labor and Business Attitudes towards Stabilization and Economic Adjustment)
Obligatory Readings:
Kaufman, Robert R - Carlos Bazdresch, - Blanca Heredia (1992) "The Politics of the Economic Solidarity Pact in Mexico: December 1987 to December 1988." (Prepared for the World Bank Project on the Political Economy of Structural Adjustment in New Democracies.)
Readings Recommended:
Olson, Mancur (1982) "The Rise and Decline of Nations: Economic Growth, Stagflation, and Social Rigidities",Yale University Press, New Haven and London. Chapter 2 and 3. 43-131
Valenzuela, Samuel, J. (1991) "Labor Movements and Political Systems: A Conceptual and Typological Analysis" The Helen Kellogg Institute for International Studies. Working Paper No 167. 1- 41.
López, Juan J. (1992) "Business Elites and Democracy in Latin America: Reflections on the May 1991 Kellogg Institute Conference" The Helen Kellogg Institute for International Studies. Working Paper No 185. 1-27.
Comisso, Ellen, Steve Dubb and Judy McTigue, (1992) "The Illusion of Populism in Latin America and East-Central Europe", György Szoboszlai, ed. Flying Blind. Emerging Democracies in East-Central Europe. Yearbook 1992, Hungarian Political Science Association.)

Week 11: Political Parties - Political business cycles - Party Systems
(How do political parties affect stabilization and structural adjustment?)
Obligatory Readings:
Alesina, Alberto (1991) "Political Models of Macroeconomic Policy and Fiscal Reforms" Prepared for the World Bank Project on the Political Economy of Structural Adjustment in New Democracies, organized by Stephan Haggard and Steven B. Webb. mimeo. (pp. 1-15)
Haggard, Stephan and Robert, R. Kaufman (1992b) "The Political Economy of Inflation and Stabilization in Middle-Income Countries" in The Politics of Economic Adjustment. International Constraints, Distributive Conflicts, and the State, Edited by Stephan Haggard and Robert, R. Kaufman, (Princeton University Press, Princeton, New Jersey, 1992).
Readings recommended:
Haggard, Stephan and Robert, R Kaufman (1992b) "Economic Adjustment and the Prospects for Democracy" in The Politics of Economic Adjustment. International Constraints, Distributive Conflicts, and the State, Edited by Stephan Haggard and Robert, R. Kaufman, (Princeton University Press, Princeton, New Jersey, 1992).

Week 12: Austerity - Protests - Substitution - Complementarity
(The changing role of civil organizations in transforming LDCs)
Obligatory Readings:
Susan Eckstein (1989) "Power and Popular Protest in Latin America" in Power and Popular Protest. Latin American Social Movements, Susan Eckstein ed. University of California Press. Berkeley 1989.
Alain de Janvry and Elisabeth Sadoulet (1993) "Market, State, and Civil organizations in Latin America Beyond the Debt Crisis: The Context for Rural Development. World Development Vol 21. No 4.
Readings recommended:
Norman Uphoff (1993) "Grassroots Organizations and NGOs in Rural Development: Opportunities with Diminishing States and Expanding Markets." World Development Vol. 21. No 4.
John Walton (1989) "Debt, Protest, and the State in Latin America" in Power and Popular Protest. Latin American Social Movements, Susan Eckstein ed. University of California Press. Berkeley 1989.

Week 13: How much does Comparative analyses help?
(On the merits and limits of analogies, and of the comparative method in understanding systemic change in East-Europe)
Obligatory Readings:
Croan, Melvin - Skidmore, Thomas E. - Ost, David - Graham, Lawrence S. - Hershberg, Eric, (1992) "Is Latin America the Future of Eastern Europe?" Problems of Communism May-June 1992) 44-57
Nelson, Joan (1992) "The Politics of Economic Transformation: Is Third World Experience Relevant in Eastern Europe?" Overseas Development Council. Mimeo.
Readings recommended
Valerie Bunce, (1993) "Leaving Socialism: A 'Transition to Democracy'?" Contention, Vol. 3, No. 1, Fall 1993
Albert Fishlow (1986) "The East European Debt Crisis in the Latin American Mirror" in Ellen Commisso and Laura D'Andrea Tyson eds. Power, Purpose, and Collective Choice. Economic Strategies in Socialist States. Cornell University Press. Ithaca and London.


Second Semester


Course Summary

The second semester is based on a careful explanation, and a critical understanding of some of the most relevant, current studies of economic and political transitions in the East. Additionally, attempts are requested to apply some of the analytical framework and concepts studied in the first semester, and distilled from recent Third World economic and political reforms, to a comparative interpretation of the experiences with the Post Communist transition.

Requirements

Completion of the first semester course.
Students are required to attend regularly and to participate actively in the course.
Each student will be requested to pass a brief written test after every four lectures.
Students are also requested to prepare an essay by the end of the second semester, related to one or some of the topics of the course.

Grading

In class activity: 30%, Tests: 30%, Final essay: 40%

Week 1: How did communism work? (I)
(Planning, Bureaucratic Control, Money and Price)
Obligatory Readings:
Kornai, János (1992) The Socialist System. The Political Economy of Communism. Clarendon Press, Oxford 1992. Chapters 6, 7, 8, 9.
Readings recommended:
Richard E. Ericson (1991) "The Classical Soviet-Type Economy: Nature of the System and Implications for Reform" The Journal of Economic Perspectives. Vol. 5. Nr 4. Fall 1991
Csanádi, Mária (1991) "Structure, Cohesion and Disintegration of the Hungarian Party-State System". in Democracy and Political Transformation. Theories and East-Central European Realities ed. György Szoboszlai. Hungarian Political Science Association.

Week 2: How did Communism Work? (II)
(The logic of the shortage economy)
Obligatory Readings:
Kornai, János The Socialist System. The Political Economy of Communism Clarendon Press, Oxford 1992. Chapters 11, 12.
Readings recommended:
Kornai, János The Socialist System. The Political Economy of Communism. Clarendon Press, Oxford 1992. Chapter 15.

Week 3: Why did communism collapse?
(Various explanations for the decline of a World System)
Obligatory Readings:
Maier, Charles S. (1991) "Why did Communism Collapse in 1989?" Harvard University, Program on Central and Eastern Europe Working Paper Series No. 7. 1 48)
Kornai, János (1992) The Socialist System. The Political Economy of Communism. Clarendon Press, Oxford 1992. Chapter 15.
Readings recommended:
Olson, Mancur (1992) "The Hidden Path to a Successful Economy" in Cristopher Clague and Gordon C. Rausser, eds. The Emergence of Market Economies in Eastern Europe. Blackwell Publishers 1992.

Week 4: The economic legacy of communism - and the logic and performance of post-communist economic reforms
(Macro tensions caused by reforms - in the reform-socialist, and the transition economies)
Obligatory Readings:
Loszek Balcerowicz (1993) "Economic Transition in Central and Eastern Europe. Second Annual Lecture Presented by the International Finance Corporation.
Islam, Shafiqul (1993) "Conclusion: Problems of Planning a Market Economy" in Islam, Shafiqul and Michael Mandelbaum eds. Making Markets. Economic Transformation in Eastern Europe and the Post-Soviet States. Council on Foreign Relations Press. New York.
Readings recommended:
Kornai, János (1992) The Socialist System. The Political Economy of Communism. Clarendon Press, Oxford 1992. Chapter 23.

Week 5: "Pushy Beggars ante portas"?
(Economics and Politics of Eastern trade reforms, and of the East's reintegration into the World Economy)
Obligatory Readings:
Dani Rodrik (1992) "Foreign Trade in Eastern Europe's Transition. Early Results" NBER Working Paper Series. Nr 4064
CEPR (1993) "Is bigger better? The Economics of EC Enlargement" CEPR Annual Report 1992 Chapter on East Europe pp. 57-93.
Readings recommended:
Nagy, András (1993) "Import Liberalization in Hungary" Institute of Economics, Hungarian Academy of Sciences. Discussion Papers No. 17.

Week 6: Selling of the "vote factories"
(Political economy problems of privatization in the Post Communist transition)
Obligatory Readings:
Stark, David (1992) "Path Dependency and Privatization Strategies in EastCentral Europe" East European Politics and Societies, vol. 6, no. 1, 1992
Winiecki, Jan (1992) "Privatization Strategies in East-Central Europe. Avoiding Major Mistakes" in Cristopher Clague and Gordon C. Rausser, eds. The Emergence of Market Economies in Eastern Europe. Blackwell Publishers 1992.
Scott, Thomas (1992) "The Political Economy of Privatization: Poland, Hungary and Czecho-Slovakia in Cristopher Clague and Gordon C. Rausser, eds. The Emergence of Market Economies in Eastern Europe. Blackwell Publishers 1992.
Readings recommended:
Waterbury, John (1992) "The Heart of the Matter? Public Enterprise and the Adjustment Process" in The Politics of Economic Adjustment. International Constraints, Distributive Conflicts, and the State, Edited by Stephan Haggard and Robert, R. Kauffman, (Princeton University Press, Princeton, New Jersey, 1992).

Week 7: Did anything "go wrong" already?
(Critical views on the ideology, the political style, the pace, and the implemented policy-mix in the East European transition process)
Obligatory Readings:
Etzioni, Amitai (1992) "A Socio-Economic Perspective on Friction" Paper delivered at the Fourth Annual International Conference of the Society for the Advancement of Socio-Economics, March 28, 1992,1rvine, California (mimeo)
Murrell, Peter (1993) "Conservative Political Philosophy and the Strategy of Economic Transition" East European Politics and Societies vol. 6, no. 1, 1992.
Readings Recommended:
Murrell, Peter (1990) "'Big Bang' versus Evolution: East European Economic Reforms in the Light of Recent Economic History" Plan Econ Report Nr 26.
Murrell, Peter (1992) "Evolution in Economics and in the Economic Reform of the Centrally Planned Economies" in Cristopher Clague and Gordon C. Rausser, eds. The Emergence of Market Economies in Eastern Europe. Blackwell Publishers

Week 8: Actors in Transition (I)
Dominant economy - subordinated politics
(Political parties' economic policy choices in the early Post Communist transition period)
Obligatory Readings:
Greskovits, Béla (1993) "Dominant Economy, Subordinated Politics. The Absence of Economic Populism in the Transition of Central-East Europe" Central European University, Political Science Department. Working Paper Series. No. 1.
Comisso, Ellen (1991) "Political Coalitions, Economic Choices" (György Szoboszlai ed., Democracy and Political Transformation) Hungarian Political Science Association, Budapest., p 122-138.
Readings recommended:
Geddes, Barbara (1991) "The Effect of Political Institutions on the Feasibility of Structural Adjustment." Prepared for the World Bank Project on the Political Economy of Structural Adjustment in New Democracies. mimeo

Week 9: Actors in Transition (II)
Civil Society - still a devastated landscape
(On the situation of labor unions, business associations, NGOs, and grassroots organizations in recent transition years in East Europe)
Obligatory Readings:
Jean L. Cohen - Andrew Arato (1992) "Civil Society and Political Theory" The MIT Press, Cambridge, Massachusetts, and London, England 1992. Chapter I. The Contemporary Revival of Civil Society. pp. 29-83
Rueschmeyer, Dietrich, (1992) "The Development of Civil Society After Authoritarian Rule" (Brown University, Mimeo) 1-29.
Readings recommended:
Georg Fischer and Guy Standing eds (1993) "Structural Change in Central and Eastern Europe: Labour Market and Social Policy Implications" Centre for Cooperation with the economies in Transition. OECD 1993 Rapporteurs' Reports PP 263-277 and Annex pp. 277-283
Bozóki, András - Sükösd Miklós: "Civil Society and Populism in the Eastern European Democratic Transitions", Praxis International 13:3, October 1993. Basil Blackwell Publishers
Kolarska-Bobinska, Lena (1990) "Civil Society and Social Anomy in Poland" Acta Sociologica 4. 1990.

Week 10: Actors in Transition. (III)
"Incompetent rent seekers" and "lonely policy makers" "
(Understanding roles and divisions within the bureaucratic corps)
Obligatory Readings:
Leszek Balcerowicz (1993) "Poland" in John Williamson, ed. The Political Economy of Policy Reforms. Institute for International Economics Washington DC
Winiecki, Jan (1990) "Why Economic Reforms fail in the Soviet System - A Property Rights-Based Approach" Economic Inquiry, Vol. XXVIII. April 1990.
Readings recommended:
Jerzy Hausner (1993) "Integrative vs. Interactive Strategy of Systemic Change in Central and Eastern Europe" Cracow Academy of Economics. mimeo. (Paper prepared for the workshop "Institutionalizing Social Transformations" Organized By the Section on Institutional Analyses of The Institute of Philosophy and Sociology, Polish Academy of Sciences, Radziejowice November 18-19. 1993 )
Greskovits, Béla (1993) "The Loneliness of the Economic Policy Maker. An Approach Based on Reviewing the Literature on the Politics of Economic Transition in LDCs and East-Central Europe."(Paper prepared for the workshop "Institutionalizing Social Transformations" Organized by the Section on Institutional Analyses of The Institute of Philosophy and Sociology, Polish Academy of Sciences, Radziejowice, November 18-19. 1993)

Week 11: Actors in transition (IV)
From the Crisis of the post-totalitarian state - to state reform.
(In which way Post-Communist states can be made capable of effective pro-reform intervention?)
Obligatory Readings:
O'Donnell, Guillermo, (1993) "On the State, Democratization and some Conceptual Problems (A Latin American View with Glances at some PostCommunist Countries) The Helen Kellogg Institute for International Studies, Working Paper 192., March 1993.
Andrzej Wojtyna (1992) "In Search of a New Economic Role for the State in the Post-Socialist Countries in Wolfgang Blaas and John Foster ed. Mixed-Economies in Europe. An Evolutionary Perspective on their Emergence, Transition and Regulation. Edward Elgar Publishing Ltd.
Readings recommended:
Laurence Whitehead (1993) "On 'Reform of the State' and 'Regulation of the Market"' World Development Vol. 21. Nr. 8. August 1993
L. C. Bresser Pereira (1993) "Economic Reforms and Cycles of State Intervention" World Development Vol. 21. Nr. 8. August 1993.

Week 12.:Transition to what?
(Third Way, chaos, poor capitalism, delegative democracy: on the risks, the timespan, and the outcome of socioeconomic transformation and systemic change)
Obligatory Readings:
O'Donnell, Guillermo, (1992) "Delegative Democracy? The Helen Kellogg Institute for International Studies, Working Paper 172., March 1993.
Przeworski, Adam (1991) Democracy and the Market. Political and Economic Reforms in Eastern Europe and Latin America, Cambridge University Press 1991 pp. 180-193
Readings recommended:
Bunce, Valerie - Mária Csanádi (1992) "A Systematic Analysis of a NonSystem: Post-Communism in Eastern Europe" György Szoboszlai, ed. Flying Blind. Emerging Democracies in East-Central Europe. Yearbook 1992, Hungarian Political Science Association.)
Stark, David (1993) Recombinant Property in East European Capitalism Collegium Budapest, Institute for Advanced Study, and Department of Sociology, Cornell University, Ithaca, NY. mimeo.


Digitized version prepared by the Curriculum Resource Center (CRC)
CEU Budapest, Hungary
Revised: April, 1996

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