LUCJAN T. ORLOWSKI is Professor of Economics and International Finance at Sacred Heart University in Fairfield, Connecticut. His research concentrates on stabilization policies in transforming economies and emerging international financial markets. He is an adviser to several research, financial, and government institutions in the United States, Central Europe, the European Union, and Latin America.DOMINICK SALVATORE is Chair and Professor of Economics at Fordham University, New York. He is president of the International Trade and Finance Association, vice president of the New York Academy of Sciences, and consultant to the United Nations and the Economic Policy Institute. His most recent books include International Economics, 5th ed. (1995) and Managerial Economics in a Global Economy, 3rd ed. (1996).

• Illustrations Preface International Competitiveness and External Trade Specialization and Comparative Advantage of Central European Nations by Dominick Salvatore and Sergio Sgarbi Trade among the Post-Soviet States: Evolution and Policy Issues by Rolf J. Langhammer and Matthias Lucke Recent Developments in the Foreign Trade in Russia, 1993-1994 by Rafa/l Antczak Specialization between Poland and the European Union by Jozef Misala Trade Policy in the Czech and Slovak Republics, Hungary and Poland in 1989-1995--A Comparison by J=anos G=acs Reforms of Currency and Payments Systems Exchange Rate Policies in Transforming Economies of Central Europe by Lucjan T. Orlowski The Reasons for the Collapse of the Ruble Zone by Marek D,abrowski Financial Market Reform in Eastern Europe by Gerhard Fink and Peter R. Haiss Banking Reform in the Successor States of the Former Soviet Union by Claudia M. Buch Integration with the European Union and with the Global Economy CEFTA: A Free Trade Zone in Central Europe? by Gabor Bakos Transformation, Endogenous Growth, and the New East's Global Integration by Jozef M. van Brabant Conditions for the Accession of Transforming Economies of Central Europe to the European Union by Daniel Gros Poland's Association with the European Communities: Challenges and Opportunities by El:zbieta Kawecka-Wyrzykowska Integration of the Baltic States with Europe by Klaus Schrader The Record on Structural Adjustment Economic Reform and Structural Adjustment in East European Industry by Eduardo Borensztein and Jonathan D. Ostry Index

LUCJAN T. ORLOWSKI is Professor of Economics and International Finance at Sacred Heart University in Fairfield, Connecticut. His research concentrates on stabilization policies in transforming economies and emerging international financial markets. He is an adviser to several research, financial, and government institutions in the United States, Central Europe, the European Union, and Latin America.DOMINICK SALVATORE is Chair and Professor of Economics at Fordham University, New York. He is president of the International Trade and Finance Association, vice president of the New York Academy of Sciences, and consultant to the United Nations and the Economic Policy Institute. His most recent books include International Economics, 5th ed. (1995) and Managerial Economics in a Global Economy, 3rd ed. (1996).

• Illustrations Preface International Competitiveness and External Trade Specialization and Comparative Advantage of Central European Nations by Dominick Salvatore and Sergio Sgarbi Trade among the Post-Soviet States: Evolution and Policy Issues by Rolf J. Langhammer and Matthias Lucke Recent Developments in the Foreign Trade in Russia, 1993-1994 by Rafa/l Antczak Specialization between Poland and the European Union by Jozef Misala Trade Policy in the Czech and Slovak Republics, Hungary and Poland in 1989-1995--A Comparison by J=anos G=acs Reforms of Currency and Payments Systems Exchange Rate Policies in Transforming Economies of Central Europe by Lucjan T. Orlowski The Reasons for the Collapse of the Ruble Zone by Marek D,abrowski Financial Market Reform in Eastern Europe by Gerhard Fink and Peter R. Haiss Banking Reform in the Successor States of the Former Soviet Union by Claudia M. Buch Integration with the European Union and with the Global Economy CEFTA: A Free Trade Zone in Central Europe? by Gabor Bakos Transformation, Endogenous Growth, and the New East's Global Integration by Jozef M. van Brabant Conditions for the Accession of Transforming Economies of Central Europe to the European Union by Daniel Gros Poland's Association with the European Communities: Challenges and Opportunities by El:zbieta Kawecka-Wyrzykowska Integration of the Baltic States with Europe by Klaus Schrader The Record on Structural Adjustment Economic Reform and Structural Adjustment in East European Industry by Eduardo Borensztein and Jonathan D. Ostry Index

LUCJAN T. ORLOWSKI is Professor of Economics and International Finance at Sacred Heart University in Fairfield, Connecticut. His research concentrates on stabilization policies in transforming economies and emerging international financial markets. He is an adviser to several research, financial, and government institutions in the United States, Central Europe, the European Union, and Latin America.DOMINICK SALVATORE is Chair and Professor of Economics at Fordham University, New York. He is president of the International Trade and Finance Association, vice president of the New York Academy of Sciences, and consultant to the United Nations and the Economic Policy Institute. His most recent books include International Economics, 5th ed. (1995) and Managerial Economics in a Global Economy, 3rd ed. (1996).

• Illustrations Preface International Competitiveness and External Trade Specialization and Comparative Advantage of Central European Nations by Dominick Salvatore and Sergio Sgarbi Trade among the Post-Soviet States: Evolution and Policy Issues by Rolf J. Langhammer and Matthias Lucke Recent Developments in the Foreign Trade in Russia, 1993-1994 by Rafa/l Antczak Specialization between Poland and the European Union by Jozef Misala Trade Policy in the Czech and Slovak Republics, Hungary and Poland in 1989-1995--A Comparison by J=anos G=acs Reforms of Currency and Payments Systems Exchange Rate Policies in Transforming Economies of Central Europe by Lucjan T. Orlowski The Reasons for the Collapse of the Ruble Zone by Marek D,abrowski Financial Market Reform in Eastern Europe by Gerhard Fink and Peter R. Haiss Banking Reform in the Successor States of the Former Soviet Union by Claudia M. Buch Integration with the European Union and with the Global Economy CEFTA: A Free Trade Zone in Central Europe? by Gabor Bakos Transformation, Endogenous Growth, and the New East's Global Integration by Jozef M. van Brabant Conditions for the Accession of Transforming Economies of Central Europe to the European Union by Daniel Gros Poland's Association with the European Communities: Challenges and Opportunities by El:zbieta Kawecka-Wyrzykowska Integration of the Baltic States with Europe by Klaus Schrader The Record on Structural Adjustment Economic Reform and Structural Adjustment in East European Industry by Eduardo Borensztein and Jonathan D. Ostry Index