1. The new international setting.- 2. Objectives of the study.- 3. Focus of the study.- 4. Terminology.- 5. Remaking the global economic framework?.- 6. A Guide through the volume.- 1: Eastern Europe in transition.- 1. On the meanings of the CMEA.- 2. Recent developments in CMEA relations.- 1. Intragroup economic relations.- 2. Domestic economic reforms.- 3. Miscellaneous sociopolitical events.- 4. Transforming the European scene.- 3. CMEA economic relations.- 2: Reforming CMEA integration.- 1. Core difficulties of CMEA cooperation.- 2. Gingerly acceptance of the need for renewal.- 3. The critical avenues slated in 1986-1987.- 4. Toward a unified CMEA market?.- 5. Toward radical changes?.- 3: The treadmill of reforms in eastern europe.- 1. Relevance of the legacies of central planning.- 2. The first strategy of socialist economic development.- 3. Salient features of the CPE model.- 1. Comprehensive central planning.- 2. Efficiency indicators and resource allocation.- 3. Indirect coordination instruments and institutions.- 4. Foreign trade and payments regime.- 4. Objectives of economic reforms in MPEs.- 4: On the economics of transition.- 1. Key aspirations of market orientation.- 2. The starting conditions for market-oriented reforms.- 3. Key components of market orientation.- 4. Key characteristics of the RPE.- 1. The microeconomic sphere.- 2. The macroeconomic sphere.- 5. Legacies of central planning and the transition phase.- 5: The political economy of east-west assistance.- 1. The core issues at stake.- 2. The international context of assistance to PETs.- 3. Overview of western assistance to PETs.- 1. Financial assistance.- 2. Commercial policy facilitation.- 3. Industrial cooperation.- 4. Emergency assistance.- 5. Other types of assistance.- 4. On associating PETs with integration schemes.- 5. On providing foreign assistance to PETs.- 6: The Marshall Plan and Eastern Europe.- 1. The overall environment of the Marshall Plan.- 2. Basic facts about the Marshall PLan.- 3. Critical components of the program.- 4. Paramount achievements of ERP.- 5. A Marshall Plan for Eastern Europe?.- 6. Key problems of an Eastern European Marshall Plan.- 7: Property rights and privatization.- 1. On privatization and property rights.- 2. Alternative ownership forms and their implications.- 3. On privatization in eastern europe.- 4. The desirability of privatization.- 5. Advantages and drawbacks of privatization.- 6. Difficulties of privatizing state assets.- 1. Divestment.- 2. Private exploitation of the usufruct.- 3. Operating privatized assets.- 7. Alternative forms of privatization.- 1. Spontaneous privatization.- 2. Free distribution.- 3. Distribution of user rights.- 4. Sale of state-owned assets.- 8: East-west assistance and PETs.- 1. Macroeconomic policy framework.- 2. On the creation of a market.- 3. Macroeconomic policies.- 4. On the sequencing of reforms.- 5. Is western assistance in need of reform?.- 9: Remaking the CMEA and east-west assistance.- 1. General backdrop to Eastern European integration.- 2. The case for remaking the CMEA.- 3. Reforming the trade regime.- 4. Toward reform of the payments system.- 5. East-west economic assistance and the CEPU.- 6. Toward a new CMEA constitution.- 10: PETs and the global economic system.- 1. Remaking the CMEA and the global economy.- 2. East-west economic assistance and the DEs.- 1. Impacts on trade and the international trading regime.- 2. Reforms in PETs and the international monetary regime.- 3. Reforms and international resource flows.- 4. Are concerns warranted?.- 3. PETs and the international monetary regime.- 4. PETs and the international financial regime.- 5. PETs and the international trading regime.- 6. Remaking Europe.- Conclusions.