The adjustment problems of public finance in countries of Central and Eastern Europe (CEE) are often misunderstood and misinterpreted by western scholars. This

Are budget deficits bad for an economy? This question has perplexed economists for centuries. Historically, three schools of thought have emerged on this matter

Key medium– and longer–term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal–f

List of Figures. List of Tables. List of Symbols. List of Country Acronyms. Foreword and Acknowledgements. I. The Transition Economies. II. Saving, by Plan and