Advanced Search
MyIDEAS: Login to save this paper or follow this series

Problems of Post-CMEA Trade and Payments

Contents:

Author Info

  • Rosati MEP, Dariusz

Abstract

The demise of the CMEA trading system in 1991 and the shift to convertible currency settlements and world market prices was expected to bring about a severe contraction of intra-group trade, coupled with large imbalances in trade between Eastern Europe and the former Soviet Union. The observed trade collapse in 1991 was exacerbated by deep domestic recession and political unrest in the region. To alleviate the costs of transition and to preserve existing trade links in Eastern Europe, the idea of a Central European Payments Union has been put forward, modelled on the successful archetype of the European Payments Union. But the present situation in Eastern Europe is different in many important respects from that of Western Europe in the late 1940s. Moreover, the observed trade decline is to a large extent a `natural' outcome of the elimination of the preferential and highly distortionary trading system of the CMEA. Therefore, the payments union does not seem to be the `first-best' solution. Instead, a comprehensive programme of external financial and technical assistance is needed to allow for the smooth restructuring of production and trade in post-CMEA countries, and to minimize losses from the abrupt cuts in mutual trade.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.cepr.org/pubs/dps/DP650.asp
Download Restriction: CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 650.

as in new window
Length:
Date of creation: Apr 1992
Date of revision:
Handle: RePEc:cpr:ceprdp:650

Contact details of provider:
Postal: Centre for Economic Policy Research, 77 Bastwick Street, London EC1V 3PZ.
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820

Order Information:
Email:

Related research

Keywords: CMEA; Eastern Europe; Gravity Model; International Trade; Payments Union; Poland;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Kaminski, Bartlomiej & DEC, 1993. "How the market transition affected export performance in the Central European economies," Policy Research Working Paper Series 1179, The World Bank.
  2. Enrique Martínez-Galán & Maria-Paula Fontoura & Isabel Proença, 2005. "Trade Potential In An Enlarged European Union: A Recent Approach," International Trade 0508011, EconWPA.
  3. Jože P. Damijan & Matija Rojec & Maja Ferjančič, 2011. "The Growing Export Performance of Transition Economies: EU Market Access versus Supply Capacity Factors," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(4), pages 489-509, December.
  4. Peter Egger, . "Economic Integration in Trade and FDI. Dynamic Considerations of Potentials and Adjustment," WIFO Working Papers 130, WIFO.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:650. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.