GEORGE MACESICH, Professor of Economics at Florida State University, and the founding director of the Center for Yugoslav-American Studies, Research, and Exchanges and the Institute for Comparative Studies, Research, and Exchanges at Florida State. He is the author of over thirty books, including Successor States (Praeger, 1994), Monetary Policy and Politics (Praeger, 1992), Reform and Market Democracy (Praeger, 1991), Monetary Reform Cooperation Theory (Praeger, 1989).DIMITRIJE DIMITREJEVIC is presently Professor of Economics, Faculty of Political Science, University of Skopje and a visiting Professor of Economics at Florida State University's Center for Yugoslav-American Studies, of the national Bank of Yugoslavia and the author of numerous books, including The Monetary Supply Process (Praeger, 1991) with George Macesich.

• Preface Introduction Infrastructure of Socialist Mandatory Central Planning Economies Institutional and Economic Transition Mechanics of Change in the Financial Structure Reform Applications Monetary Reforms, 1987-1992 A Stable Monetary Arrangement Banking Practice and Experience in other Countries: A Useful Guide to Reform Property Rights, Privatization, and Other Issues Constraints to Reform: The Issue of Nationalism Reforms and Reformers Chicago, Adam Smith, and the Continentals Bibliography Index

GEORGE MACESICH, Professor of Economics at Florida State University, and the founding director of the Center for Yugoslav-American Studies, Research, and Exchanges and the Institute for Comparative Studies, Research, and Exchanges at Florida State. He is the author of over thirty books, including Successor States (Praeger, 1994), Monetary Policy and Politics (Praeger, 1992), Reform and Market Democracy (Praeger, 1991), Monetary Reform Cooperation Theory (Praeger, 1989).DIMITRIJE DIMITREJEVIC is presently Professor of Economics, Faculty of Political Science, University of Skopje and a visiting Professor of Economics at Florida State University's Center for Yugoslav-American Studies, of the national Bank of Yugoslavia and the author of numerous books, including The Monetary Supply Process (Praeger, 1991) with George Macesich.

• Preface Introduction Infrastructure of Socialist Mandatory Central Planning Economies Institutional and Economic Transition Mechanics of Change in the Financial Structure Reform Applications Monetary Reforms, 1987-1992 A Stable Monetary Arrangement Banking Practice and Experience in other Countries: A Useful Guide to Reform Property Rights, Privatization, and Other Issues Constraints to Reform: The Issue of Nationalism Reforms and Reformers Chicago, Adam Smith, and the Continentals Bibliography Index