This work examines the indirect instruments and the related institutions that help to co-ordinate key economic decisions within and among the economies belonging to the Council for Mutual Economic Assistance (CMEA).

This book examines the indirect instruments and the related institutions that help to coordinate key economic decisions within and among the economies belonging to the Council for Mutual Economic Assistance (CMEA). The chief purpose is two-fold: to assess thier adequacy in light of the forced economic adjustments of the early 1980s and to formulate feasible changes for both in order to avert a recurrence of such developmental obstacles. Jozef van Brabant argues that these instruments and institutions are inadequate. He proposes that a resumption of rapid growth depends largely upon bolstering factor productivity growth, which can only be achieved through positive structural changes and a root-and-branch reform of the individual and groupwide economic mechanisms.

List of figures and tables
Preface
notes on transliteration, referencing, and units
List of abbreviations
Introduction
Part I. The Environment of Socialist Economic Integration: 1. Socialist economic integration in perspective
2. The CMEA's organization and policy programs
3. Adjustment policies in perspective
Part II. Indirect Coordination Instruments and Supporting Institutions: 4. Socialist trade prices and CMEA cooperation
5. Domestic prices, structural adjustment, and economic reform
6. Exchange rates and foreign exchange policies
7. Eastern Europe in the world monetary system
8. The CMEA's nascent monetary system and the common banks
9. Factor mobility and investment coordination
10. The International Investment Bank
11. National and regional convertibility in the CMEA
Part III. A Development and Integration Scenario: 12. Socialist economic integration and East-West relations in the late 1980s and beyond
Notes
Bibliography
Index.