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The paper uses data from transition economies in Central and Eastern Europe to assess four questions: (i) Did the standard blueprint for stabilization work, and was it implemented? (ii) To what extent was normal macroeconomics impeded by solvency problems in banks, and how successful have been policies to improve incentives within banks? (iii) Could financial markets and other infrastructure for monetary policy have been developed more quickly? (iv) How should transition economies respond to the monetary inflows that typically accompany success? The paper concludes by evaluating the changing advice offered by external agencies during the 1990s.

Banks and Banking --- Exports and Imports --- Foreign Exchange --- Money and Monetary Policy --- Inflation --- Demand for Money --- Monetary Policy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- International Investment --- Long-term Capital Movements --- Interest Rates: Determination, Term Structure, and Effects --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Price Level --- Deflation --- Banking --- Currency --- Foreign exchange --- International economics --- Finance --- Monetary economics --- Macroeconomics --- Exchange rates --- Capital inflows --- Real interest rates --- Bank credit --- Balance of payments --- Financial services --- Prices --- Real exchange rates --- Banks and banking --- Capital movements --- Interest rates --- Credit --- Czech Republic

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Economics --- Economie politique --- Problèmes, exercices, etc.

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International finance --- European Union --- Monetary unions --- Euro --- Banks and banking --- Unions monétaires --- Euro (Monnaie) --- Banques --- Congresses. --- Congrès --- European Monetary System (Organization) --- European Central Bank --- European currency unit --- Money --- AA / International- internationaal --- 334.151.20 --- 333.453 --- 334.151.25 --- Economic and Monetary Union --- Monetary policy --- -Fiscal policy --- -Monetary unions --- -332.4566094 --- Common currencies --- Currency areas --- Currency unions --- Optimum currency areas --- Currency question --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Monetary management --- Currency boards --- Money supply --- Economische en monetaire unie van de Europese Gemeenschappen: algemeenheden. --- Internationale munt. Rekeneenheden. --- Rekeneenheid, gemeenschappelijke munt van de Europese Gemeenschappen. ECU. Euro. --- Government policy --- Unions monétaires --- Congrès --- 332.4566094 --- Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Coinage --- Gold --- Silver --- Silver question --- Wealth --- ECU (Unit of account) --- Internationale munt. Rekeneenheden --- Economische en monetaire unie van de Europese Gemeenschappen: algemeenheden --- Rekeneenheid, gemeenschappelijke munt van de Europese Gemeenschappen. ECU. Euro --- Système monétaire européen (Organization) --- Europäisches Währungssystem (Organization) --- Sistema Monetario Europeo (Organization) --- Europees Monetair System (Organization) --- Europæisk monetær system (Organization) --- Euroopan valuuttajärjestelmä --- EMS (European Monetary System) --- E.M.S. (European Monetary System) --- EWS (European Monetary System) --- E.W.S. (European Monetary System) --- SME (European Monetary System) --- S.M.E. (European Monetary System) --- ECB --- Banque centrale européenne --- BCE --- Banco Central Europeo --- Banca centrale europea --- Europäische Zentralbank --- EZB --- Európska centrálna banka --- European currency unit - Congresses --- Money - European Union countries - Congresses --- Monetary unions - European Union countries - Congresses

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Economics --- Economie politique --- 330 --- 330.1 --- AA / International- internationaal --- 330.00 --- Theoretische economie. Economische theorie. Economische analyse --- Economische grondbegrippen. Algemene begrippen in de economie --- Economische en sociale theorieën: algemeenheden. --- 330.1 Economische grondbegrippen. Algemene begrippen in de economie --- 330 Theoretische economie. Economische theorie. Economische analyse --- Economische en sociale theorieën: algemeenheden --- Économie politique --- Macroéconomie --- Microéconomie --- Économie politique. --- Économie politique --- Macroéconomie --- Microéconomie

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Economics --- Economie politique --- Handbooks, manuals, etc. --- Guides, manuels, etc --- AA / International- internationaal --- 330.00 --- Economische en sociale theorieën: algemeenheden. --- Economische en sociale theorieën: algemeenheden