In This Review

Adjustment, Structural Change, And Economic Efficiency: Aspects Of Monetary Cooperation In Eastern Europe
Adjustment, Structural Change, And Economic Efficiency: Aspects Of Monetary Cooperation In Eastern Europe
By Jozef M. Van Brabant
Cambridge University Press, 1987, 480 pp

In this valuable study, a leading expert on the Council for Mutual Economic Assistance (CMEA, or COMECON) deals comprehensively with the financial and monetary aspects of relations among the countries of Eastern Europe and the Soviet Union. His systematic analysis, building on much past work, shows clearly why efforts at "socialist economic integration" have had such limited results. National price structures are likely to remain a persistent obstacle. There is an interesting examination of East-West economic relations and those among the socialist countries. The book ends with 1986 and the author leaves until next time the effort "to take more fully into account the implications of the evolving transformations in Eastern Europe."