Substantially revised and updated the second edition of this highly acclaimed text is both a vital guide and a valuable critical analysis. The book provides a contemporary comparative approach to the process of transformation of the economies of Eastern Europe and Russia. Supplying a large amount of factual and statistical information it also includes consideration of recent progress in the areas of macro-economic-stabilisation, micro-economic restructuring and integration into the world economy.

This book addresses the Soviet needs for external help to allow the Soviet leadership to carry out its program-in any version-of stabilization. It focuses on the scenarios outlined in the Shatalin plan, as elaborated in the 224-page draft made public.