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The Case for Western Aid to Central Eastern Europe

In: Collected Works of Domenico Mario Nuti, Volume II

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  • Domenico Mario Nuti

    (University of Rome)

Abstract

The countries of Central-Eastern Europe are currently undertaking the difficult tasks of economic restructuring and reconstruction, monetary stabilisation, liberalisation and multilateralisation of foreign trade. These countries are the six smaller European members of CMEA (Bulgaria, Czechoslovakia, the GDR, Hungary, Poland, Romania), Yugoslavia and the Soviet Union itself. In this respect their predicament is reminiscent of that of West European countries after the last War. It matters little whether plant is destroyed by war or simply redundant and obsolete, since neither is usable: whether the currency has been debased by the need to pay for the war or for bad investment, since neither bear fruits; or whether autarky and trade diversion have been imposed by a hot or a cold war. This similarity suggests the possibility of external financial assistance similar to that extended by the USA to Western Europe in 1947–1952, under the Plan named after Secretary of State George C. Marshall.

Suggested Citation

  • Domenico Mario Nuti, 2023. "The Case for Western Aid to Central Eastern Europe," Studies in Economic Transition, in: Saul Estrin & Milica Uvalic (ed.), Collected Works of Domenico Mario Nuti, Volume II, chapter 20, pages 455-465, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-3-031-23167-4_20
    DOI: 10.1007/978-3-031-23167-4_20
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