Economic integration in Eastern Europe

  • Balassa B
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This paper reviews the activities of the Council for Mutual Economic Assistance (CMEA) since its establishment in 1949. It points out that, while specialization agreements have permitted the exploitation of economies of scale, technological progress has been slow. The issue of whether the Soviet Union subsidized the partner countries through trade is considered and the possibility of payments arrangements among former CMEA countries is discussed. The paper also evaluates alternative patterns of cooperation among former CMEA countries. © 1992.

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  • Bela Balassa

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