This work encompasses economic and financial sector reform in a range of Eastern European countries. For example, it deals with bank and enterprise restructuring; the financing of small and medium-sized enterprises in Poland; macroeconomic policy and capital flows; and simulation experiments.

Contents: Foreword: Keynote Speech by Vahur Kraft, President, Bank of Estonia Preface 1. Introductory Overview Part I: Bank and Enterprise Restructuring 2. The Polish Bank and Enterprise Restructuring Programme 3. Enterprise Restructuring and Changes in the Business Environment in Estonia 4. Financial Contracts and Relations in the Small and Medium-Sized Enterprise Sector in Poland 5. Financing Small and Medium-Sized Enterprises in Poland, 1989–1994 6. Entry Conditions, Structure and Performance in Banking Sectors in Central and Eastern Europe 7. Financial Reforms in Poland Part II: Exchange Rate Regimes and Capital Flows 8. Fixed Exchange Rate Regime in the Stages of Transition 9. Macroeconomic Policy and Capital Flows 10. The Magnitude and Determinants of Capital Flight in Eastern Europe 11. Sterilization of Capital Inflows in Transition Economies Part III: Macroeconomic Effects of Financial Reforms and Panel Discussion 12. Simulation Experiments of the Macroeconomic Effects of Financial Reforms in Poland and Estonia 13. The Continuing Debate Index