Practices of Coexistence
(Constructions of the other in early modern perceptions) was launched on 15th June at the Central European University in Budapest.

Utopian Horizons was launched on 30th May at CEU Budapest, more.

The Stranger, the Tears, the Photograph, the Touch (Divine presence in Spain and Europe since 1500): a selection of pictures from this book was on display in the Hungarian House of Photography – Mai Manó House until May 24.

The Last Superpower Summits is highly recommended by Choice. The book was presented on April 11 at the Institute for European, Russian, and Eurasian Studies of The George Washington University.

House of a Thousand Floors  is a 2016 Foreword INDIES Finalist in the Science Fiction category. 

2017 Spring/Summer Catalog is available for download.

Roma-Gypsy Presence in the Polish-Lithuanian Commonwealth, 15th-18th Centuries by Lech Mróz received honorable mention for the Kulczycki Book Prize in Polish Studies.

Top five CEU Press titles by number of copies sold in 2016:
With Their Backs to the Mountains
How They Lived
Post-Communist Mafia State
Arguing it Out
Hybrid Renaissance

Top five by sales revenue in 2016:
With Their Backs to the Mountains
How They Lived
Art Beyond Borders
Nationalizing Empires
Holocaust in Hungary





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Macroeconomic Policies and the Development of Markets
in Transition Economies

Fabrizio Coricelli, University of Siena, Central European University, Budapest

"Fabrizio Coricelli makes a brief, bold attempt to lay some generally applicable theoretical foundations for this peculiar branch of economics, where the conventional wisdom about why things work is even less helpful than usual."
- The Economist

This book presents the first integrated view of transition based on a unified analytical framework that evaluates the experience of several transition economies.

Fabrizio Coricelli's view of transition emphasizes the connection between peculiar initial conditions and the effects of market reforms. Taking the starting point of underdeveloped markets and market institutions, he evaluates macroeconomic policies in relation to their impact on the develop-ment of markets. Coricelli particularly emphasizes financial markets, the "missing" market under the system of central planning.

Different initial conditions in terms of economic structure and level of development of market institutions may determine radically different out-comes of similar macroeconomic policies. Initial conditions are important in the context of a highly nonlinear transition path. Transition can be generally considered as a process that must go over a bump before succeeding.

Emphasizing initial conditions does not imply a mechanical approach. On the contrary, Coricelli highlights fundamental trade-offs for economic policy, which can play a crucial role in determining the success of reforms. Intensity and timing of reform measures should be adapted to different situations.

This book will be of interest to students and researchers in economics, economic policy, and public planning.

 

Contents

Introduction. Chapter 1: Stabilization, liberalization and macroeconomic performance Chapter 2: Monetary policy and financial markets in transition economies Chapter 3: Macroeconomic constraints and feedback Chapter 4: Income distribution and the dynamics of reform

1998
176 pages
ISBN 978-963-9116-05-4 cloth $39.95 / £25.00
ISBN 978-963-9116-08-5 paperback $16.95 / £10.95

 

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