The 5th Dubrovnik Conference

THE FIFTH DUBROVNIK CONFERENCE ON TRANSITION ECONOMIES

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"TEN YEARS OF TRANSITION:
WHAT HAVE WE LEARNED AND WHAT LIES AHEAD"

Organized by the Croatian National Bank
Dubrovnik, June 23-25, 1999

Scientific Committee

Organizing Committee

List of Participants

The Book: "TRANSITION: THE FIRST DECADE"
by Mario I. Blejer and Marko Skreb
Publisher: MIT Press, January 2002

About the Editors

SCIENTIFIC COMMITTEE

Mr. Marko Skreb - Chairman
Governor
Croatian National Bank

Mr. Pero Jurkovic
Chief Presidental Adviser for Economic Affairs
Office of the President of the Republic of Croatia

Mr. Robert A. Mundell
Professor
Columbia University

Mr. Mario I. Blejer
Senior Advisor
International Monetary Fund

ORGANIZING COMMITTEE

Mr. Marko Skreb - Chairman
Governor
Croatian National Bank

Mrs. Lidija Pleadin - Secretary
Advisor, Assistant to the Chief of Staff
Croatian National Bank

Mr. Mario Kastrapeli
Sales Manager
Travel Agency "Atlas"

LIST OF PARTICIPANTS

1. Mr. France Arhar, Bank of Slovenia, Ljubljana, Slovenia
2. Mr. Anders Aslund, Carnegie Endowment for International Peace, USA
3. Mr. Mate Babic, Faculty of Economics, Zagreb, Croatia
4. Mr. Ante Babic, CNB, Croatia
5. Mr. David Begg, Birkbeck Collegue, UK
6. Mr. Alen Belullo, Faculty of Economics, Pula, Croatia
7. Mr. Mario I. Blejer, IMF, Washington, USA
8. Mr. Tito Boeri, University of Economics, Milano, Italy
9. Mr. Velimir Bole, Economic Institute of Law Faculty, Ljubljana, Slovenia
10. Mr. Jonh P. Bonin, Wesleyan University, Middletown, USA
11. Mr. Warren Coats, IMF, Washington, USA
12. Mr. Belen Cristino, Ministry of Economy, Madrid, Spain
13. Mr. Gary O'Callaghan, IMF Representative, Zagreb, Croatia
14. Mr. Marek Dabrowski, CASE, Warsaw, Poland
15. Mr. Daniel Daianu, University of Economics, Bucharest, Romania
16. Ms. Martina Dalic, Assistant Ministry of Finance, Croatia
17. Mr. Vladimir Dlouhy, GSE Praha, Czech Republic
18. Mr. Hrvoje Dolenec, CNB, Croatia
19. Mr. Edgar L. Feige, Institute of Public Finance, Croatia
20. Mr. Renato Filosa, BIS, Basle, Switzerland
21. Mr. Hans Flickenschild, IMF, Washington, USA
22. Mr. Jacob A. Frenkel, Governor, Bank of Israel, Jerusalem, Israel
23. Mr. Yegor Gaidar, Institute for Economy in Transition, Moscow, Russia
24. Mr. Jurgen von Hagen, University of Bonn, Germany
25. Mr. Laszlo Halpern, Institute of Economics, Budapest, Hungary
26. Ms. Arntraud Hartmann, The World Bank, USA
27. Mr. Olef Havrylyshyn, IMF, Washington, USA
28. Mr. Arye L. Hillman, Bar Illan University, Tel Aviv, Israel
29. Mr. Ljubinko Jankov, CNB, Croatia
30. Ms. Vanja Jelic, CNB, Croatia
31. Mr. Pero Jurkovic, Chief Presidental Adviser, Office of the President, Croatia
32. Mr. Grzegorz W. Kolodko, IMF, USA
33. Mr. Evan Kraft, CNB, Croatia
34. Mr. Ricardo Lago, EBRD, London, UK
35. Mr. Maroje Lang, CNB, Croatia
36. Mr. Jacques de Larosière, Adviser of Banque Paribas, Paris, France
37. Mr. Johannes F. Linn, Vice President, The World Bank, USA
38. Mr. Ivan Lovrinovic, Faculty of Economics, Zagreb, Croatia
39. Mr. Relja Martic, Vicegovernor, CNB, Croatia
40. Mr. Constantine Michalopoulos, WTO, Geneve, Switzerland
41. Mr. Ilian Mihov, INSEAD, Paris, France
42. Mr. Robert A. Mundell, Columbia University, New York, USA
43. Ms. Piroska M. Nagy, IMF, Washington, USA
44. Ms. Judith Nemenyi, National Bank of Hungary, Budapest, Hungary
45. Mr. Peter Nicholl, Governor, Central Bank of Bosnia and Herzegovina, Sarajevo, B&H
46. Mr. Gorazd Nikic, Institute of Economics, Zagreb, Croatia
47. Mr. Domenico Mario Nuti, London Business School, London, UK
48. Mr. Gur Offer, Hebrew University, Jerusalem, Israel
49. Ms. Lidija Pleadin, CNB, Croatia
50. Mr. Tomislav Presecan, CNB, Croatia
51. Mr. Bozo Prka, President, PBZ, Croatia
52. Mr. Sandor Sipos, The World Bank Representative, Zagreb, Croatia
53. Mr. John Odling-Smee, IMF, Washington, USA
54. Mr. Pieter Stek, The World Bank, Washington, USA
55. Mr. Rolf Strauch, BundesBank, Germany
56. Mr. Jan Svejnar, William Davidson Institute, USA
57. Mr. Borislav Skegro, Deputy Prime Minister, Government of Croatia, Croatia
58. Mr. Marko Skreb, Governor, CNB, Croatia
59. Mr. Velimir Sonje, CNB, Croatia
60. Mr. Vedran Sosic, CNB, Croatia
61. Mr. Vito Tanzi, IMF, Washington, USA
62. Ms. Ruzica Vuger, CNB, Croatia
63. Mr. Boris Vujcic, CNB, Croatia
64. Mr. Paul Wachtel, Leonard Stern School of Business, New York, USA
65. Mr. J. de Beaufort Wijnholds, IMF, Washington, USA
66. Mr. Martin Wolf, FT, London, UK
67. Mr. Charles Wyplosz, Graduate Institute of Int. Studies, Geneva, Switzerland
68. Mr. Ante Zigman, CNB, Croatia

The Book
"TRANSITION: THE FIRST DECADE"
by Mario I. Blejer and Marko Skreb

Contents:

I INTRODUCTION

        1. A Decade of Transition in a Variety of Settings:
            A Comparison of Country Experiences
            Mario I. Blejer and Marko Skreb
        2. Ten Years of Transition in Central Europe and the Former Soviet Union:
            The Good News and the Not-So-Good News
            Johannes F. Linn
        3. Ten Years of Postsocialist Transition: The Lessons for Policy Reforms
            Grzegorz W. Kolodko

II THE COUNTRY EXPERIENCES

        4. East Germany: Transition with Unification, Experiments and Experiences
           Jurgen von Hagen and Rolf R. Strauch
        5. Ten Years of the Polish Economic Transition 1989-1999
            Marek Dabrowski
        6. Fiscal Foundation of Convergence to European Union:
            The Hungarian Economy Towards EU Accession
            Laszlo Halpern and Judit Nemenyi
        7. Czech Republic - Ten Years of Transition
            Vladimir Dlouhy
        8. Croatia in the Second Stage of Transition: 1994-1999
            Velimir Sonje and Boris Vujcic
        9. Fiscal Impulse of Transition: The Case of Slovenia
            Velimir Bole
      10. The Legacy of the Socialist Economy in Russia:
            The Macro and Microeconomic Consequences of Soft Budget Constraints
            Yegor Gaidar
       11. Belarus: A Command Economy without Central Planning
             D. Mario Nuti
       12. Problems with Economic Transformation in Ukraine
            Anders Aslund
       13.The Economic Transition in Bulgaria: 1989-1999
            Ilian Mihov
       14. Strain and Economic Adjustment: Romania Travails and Pains
             Daniel Daianu
       15. Transition Economies
             Jacques de Larosière

Contributors

Mario I. Blejer, International Monetary Fund
Marko Skreb, Croatian National Bank
Johannes F. Linn, The World Bank
Grzegorz W. Kolodko, Warsaw School of Economics and IMF
Jurgen von Hagen, ZEI, University of Bonn, Indiana University and CEPR
Rolf R. Strauch, ZEI, University of Bonn
Marek Dabrowski, Center for Social and Economic Research
Laszlo Halpern, Institute of Economics, Hungarian Academy of Sciences
Judith Nemenyi, National Bank of Hungary
Vladimir Dlouhy, GSE Praha
Velimir Sonje, Croatian National Bank
Boris Vujcic, Croatian National Bank
Velimir Bole, Economic Institute of Law Faculty
Yegor Gaidar, Institute of Economy in Transition
Mario Nuti, University of Rome and London Business School
Anders Aslund, Carnegie Endowment for International Peace
Ilian Mihov, INSEAD
Daniel Daianu, University of Economics
Jacques de Larosière, Adviser of Banque Paribas