Integration of Eastern Europe Into the World Trading System

March 1, 1991

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Format: Chicago

Helen B. Junz Integration of Eastern Europe Into the World Trading System, (USA: International Monetary Fund, 1991) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The sheer size of mandated trade among members of the Council for Mutual Economic Assistance (CMEA), and its composition and quality, means that its reorientation toward other markets entails a whole complex of structural adjustment policies. To be successful, policy reform must be comprehensive, with clarity of purpose and predictability of action. Nevertheless, while gradualism should not be used as an excuse for delay, reforms must be harmonized with the timetable of requisite institutional change. In any case, reform must be accompanied by trade liberalization to help break down domestic monopolies and to gain the efficiencies from division of labor.

Subject: Comparative advantage, General Agreement on Tariffs and Trade, International trade, Trade relations, Trade systems

Keywords: CMEA contract, CMEA country, CMEA group, CMEA trade, Comecon, Comparative advantage, Eastern Europe, Economy, General Agreement on Tariffs and Trade, Price, Price reform, Reform effort, Trade, Trade systems, Trading, Unit of account, World trading structure, WP

Publication Details

Pages:

9
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1991/024
Stock No:

WPIEA0241991
ISBN:

9781451920932
ISSN:

1018-5941

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