Leszek Balcerowicz is Professor at Warsaw School of Economics. He was Deputy Prime Minister and Minister of Finance in Poland.Iraj Hoshi is Principal Lecturer in Economics at Staffordshire University, Stroke-on-Trent, UK.

"This book discusses exit processes (industrial downsizing, bankruptcies, reorganization and liquidations) in three leading transition economies of Central Europe: the Czech Republic, Hungary and Poland. The reason for the economic transition was that the socialist economies were almost bankrupt by 1989 and in desperate need of restructuring. This book analyses the micro dimensions of this process, where industrial firms cease to exist, releasing assets and resources that may be used more efficiently elsewhere."

• Contributors, List of tables and figures, 1: Introduction and Overview, 2: Bankruptcy, Reorganization, and Liquidation in Mature Market Economies: Lessons for Economies in Transition, 3: Macroeconomic Shocks and Policy Responses During Transition: A Cross-Country Comparison, 4: Downsizing as an Exit Mechanism: Comparing the Czech Republic, Hungary, and Poland, 5: Bankruptcy and Owner-Led Liquidation in the Czech Republic, 6: Hungary's Bankruptcy Experience, 1992-93, 7: Classical Exit Processes in Poland: Court Conciliation, Bankruptcy, and State Enterprise Liquidation, 8: Poland's Bank-Led Conciliation Process, 9: Why Does Exit Matter? Exit, Growth and Other Economic Processes in Transition Economies, Index