In the 1980s, the formerly planned markets of the Soviet Union and Eastern Europe and the developing nations of Latin America and East Asia embarked upon unprecedented efforts to alter their economic regimes. These first-stage reforms involved a major reconceptualization of the principal elements of the economy, private property, and trade. But in the wake of these reforms, the need for second-stage reforms—the implementation of more structural changes—arose; without the development of new regulatory agencies, tax reform initiatives, adjustments to trade policies, and enhancements in education, labor, and telecommunications, the prospects for economic growth engendered during the first-stage reforms might not be realized.

Economic Policy Reform: The Second Stage provides an incisive overview of the context of these crucial second-stage reforms with a thorough examination of the issues confronting the policymakers involved. Edited by Anne O. Krueger, it features studies from distinguished experts in various fields of economics. Each chapter of this book addresses a key issue in economic policy, examines the progress of reforms in the markets considered, and then explores what research might further aid leaders as they embark on fundamental changes.

Both a handbook for economists and practitioners and a theoretical exploration of the most significant challenges currently facing the economic world, this new book will be indispensable to anyone involved in the global economic scene.

Contributors:
Vittorio Corbo
Cimon Cowan
Sebastian Edwards
Stephan Haggard
Michael Kremer
Steven Matusz
Frederic S. Mishkin
Jonathan Morduch
Roger G. Noll
Miguel A. Savastano
T. Paul Shultz
Mary M. Shirley
T.N. Srinivasan
Joseph E. Stiglitz
Vito Tanzi
David Tarr
Aaron Tornell

Anne O. Krueger is the Herald L. and Caroline L. Ritch Professor of Economics, senior fellow of the Hoover Institution, and director of the Center for Research on Economic Development and Policy Reform at Stanford University. She is the editor of The WTO as an International Organization and The Structure and Evolution of Recent U.S. Trade Policy, as well as the author of American Trade Policy: A Tragedy in the Making.