Front Matter

Front Matter

Author(s):
Georg Winckler
Published Date:
September 1992
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    Moderator

    Georg Winckler

    Papers presented at a seminar held in Baden, Austria April 15–18, 1991

    International Monetary Fund

    Austrian National Bank

    Washington 1992

    © 1992 International Monetary Fund

    Cover design and interior by IMF Graphics Section

    Library of Congress Cataloging-in-Publication Data

    Central and Eastern Europe : roads to growth : papers presented at a seminar held in Baden, Austria, April 15-18, 1991 / moderator, Georg Winckler. p. cm.

    Includes bibliographical references.

    ISBN 1-55775-199-4 (paper)

    1. Central Europe—Economic policy—Congresses. 2. Europe, Eastern—Economic policy—Congresses. 1. Winckler, Georg,

    1943- .

    HC244.C37 1992

    330.947—dc20

    91-43872

    CIP

    Price: US$22.00

    Address orders to:

    International Monetary Fund, Publication Services

    700 19th Street, N.W., Washington, D.C. 20431, U.S.A.

    Tel.: (202) 623-7430 Telefax: (202) 623-7201

    Cable: Interfund

    Foreword

    There are no iron-clad rules to guide countries from systems of central planning to free and open markets. Instead, there are some basic principles of sound economics and an accumulating body of experience to help put those principles into practice. For this reason, it is essential that those who are engaged in the crucial work of economic transformation in Central and Eastern Europe come together whenever possible to share their hard-won knowledge and practical experience.

    The International Monetary Fund, among its many roles, acts as a catalyst for exchanging ideas and knowledge. For this reason, the IMF was pleased and proud to cosponsor with the Austrian National Bank a seminar on the topic “Central and Eastern Europe: Roads to Growth.” Held at Baden, Austria, April 15–18, 1991, this meeting brought together academic experts, government officials, and representatives of private and international organizations to offer proposals and discuss experiences of the early stages of economic transition.

    Since this seminar was so successful, we are determined to follow it with others as our work takes us deeper into the problems of reform. At the IMF we encourage and value highly the free exchange of research and analysis among professional economists, government officials, and interested observers to help find the best solutions to the challenges posed by transition to a new economic age.

    Michel Camdessus

    Managing Director

    International Monetary Fund

    Acknowledgment

    This seminar was jointly sponsored by the International Monetary Fund and the Austrian National Bank. The interest shown by these institutions attests to the importance of the issues covered by the seminar.

    Many people contributed to the success of this event. On behalf of the participants I would like to express my thanks to all those whose active support made it possible, in particular Jacob Frenkel, Patrick de Fontenay, and Guillermo Calvo, for their helpful comments in the shaping and design of the program; to Johann Prader and Hernan Puentes of the IMF for their efforts in initiating, planning, and organizing the seminar; and to Alexander Dorfel and Aurel Schubert of the Austrian National Bank for organizing and coordinating the arrangements in Baden. I would also like to thank Elin Knotter of the External Relations Department of the IMF who edited this volume for publication.

    Georg Winckler

    Moderator

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