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A Marshall Plan for the East: Options for 1993

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  • Barry Eichengreen.

Abstract

The economic crisis in Eastern Europe and the former Soviet Union continues to evoke calls for Western assistance. Many observers question, however, whether a new Marshall Plan would be productive today. Answering this question requires first understanding what rendered Marshall aid so effective after World War II. This paper therefore reviews recent research on the effects of the Marshall Plan. It then considers four options for Western assistance to the East: a Marshall Plan on the scale of 1948-51, aid sufficient to fund a social safety net, aid sufficient to establish a multilateral clearing mechanism, and the provision of technical assistance.
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Suggested Citation

  • Barry Eichengreen., 1993. "A Marshall Plan for the East: Options for 1993," Center for International and Development Economics Research (CIDER) Working Papers C93-010, University of California at Berkeley.
    • Handle: RePEc:ucb:calbcd:c93-010
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    as
    1. Frankel, Jeffrey, 1993. "Three Comments on Exchange Rate Stabilization and European Monetary Union," Center for International and Development Economics Research (CIDER) Working Papers 233192, University of California-Berkeley, Department of Economics.
    2. Alessandra Casella, 1992. "Arbitration in International Trade," NBER Working Papers 4136, National Bureau of Economic Research, Inc.
    3. Barry Eichengreen, 1992. "Is Europe an Optimum Currency Area?," Palgrave Macmillan Books, in: Silvio Borner & Herbert Grubel (ed.), The European Community after 1992, chapter 8, pages 138-161, Palgrave Macmillan.
    4. Barry Eichengreen., 1992. "Three Perspectives on the Bretton Woods System," Economics Working Papers 92-191, University of California at Berkeley.
    5. Broadberry, S N & Crafts, N F R, 1990. "Explaining Anglo-American Productivity Differences in the Mid-Twentieth Century," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(4), pages 375-402, Special I.
    6. Maurice Obstfeld., 1993. "Model Trending Real Exchange Rates," Center for International and Development Economics Research (CIDER) Working Papers C93-011, University of California at Berkeley.
    7. Barry Eichengreen., 1992. "The Political Economy of Fiscal Policy After EMU," Center for International and Development Economics Research (CIDER) Working Papers C92-004, University of California at Berkeley.
    8. Frankel, Jeff & Phillips, Steve & Chinn, Menzie, 1992. "Financial and Currency Integration in the European Monetary System: The Statistical Record," Center for International and Development Economics Research (CIDER) Working Papers 233177, University of California-Berkeley, Department of Economics.
    9. Maier, Charles S., 1977. "The politics of productivity: foundations of American international economic policy after World War II," International Organization, Cambridge University Press, vol. 31(4), pages 607-633, October.
    10. Eichengreen, Barry & Uzan, Marc, 1992. "The Marshall Plan: Economic Effects and Implications for Eastern Europe and the Soviet Union," Department of Economics, Working Paper Series qt6kr8157r, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    11. Eichengreen, Barry & Uzan, Marc, 1992. "The Marshall Plan: Economic Effects and Implications for Eastern Europe and the Former USSR," CEPR Discussion Papers 638, C.E.P.R. Discussion Papers.
    12. Peter B. Kenen, 1991. "Transitional Arrangements for Trade and Payments among the CMEA Countries," IMF Staff Papers, Palgrave Macmillan, vol. 38(2), pages 235-267, June.
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    Cited by:

    1. Barry Eichengreen., 1993. "International Monetary Arrangements for the 21st Century," Center for International and Development Economics Research (CIDER) Working Papers C93-021, University of California at Berkeley.
    2. Barry Eichengreen., 1994. "History and Reform of the International Monetary System," Center for International and Development Economics Research (CIDER) Working Papers C94-041, University of California at Berkeley.
    3. Stein, Ernesto H. & Streb, Jorge M., 1998. "Political stabilization cycles in high-inflation economies," Journal of Development Economics, Elsevier, vol. 56(1), pages 159-180, June.
    4. Casella, Alessandra, 1993. "Trade as Engine of Political Change: A Parable," Center for International and Development Economics Research (CIDER) Working Papers 233188, University of California-Berkeley, Department of Economics.
    5. Eichengreen, Barry, 1993. "The Crisis in the EMS and the Transition to EMU: An Interim Assessment," Center for International and Development Economics Research (CIDER) Working Papers 233203, University of California-Berkeley, Department of Economics.
    6. Barry Eichengreen., 1993. "Prerequisites for International Monetary Stability," Center for International and Development Economics Research (CIDER) Working Papers C93-018, University of California at Berkeley.
    7. Maurice Obstfeld, 1993. "International Capital Mobility in the 1990s," NBER Working Papers 4534, National Bureau of Economic Research, Inc.
    8. Barry Eichengreen., 1994. "Deja Vu All Over Again: Lessons from the Gold Standard for European Monetary Unification," Center for International and Development Economics Research (CIDER) Working Papers C94-032, University of California at Berkeley.
    9. Eichengreen, Barry & Tobin, James & Wyplosz, Charles, 1995. "Two Cases for Sand in the Wheels of International Finance," Economic Journal, Royal Economic Society, vol. 105(428), pages 162-172, January.
    10. Eichengreen, Barry & Flandreau, Marc, 1994. "The Geography of the Gold Standard," Center for International and Development Economics Research (CIDER) Working Papers 233393, University of California-Berkeley, Department of Economics.
    11. Obstfeld, Maurice, 1993. "Model Trending Real Exchange Rates," Center for International and Development Economics Research (CIDER) Working Papers 233187, University of California-Berkeley, Department of Economics.
    12. Eichengreen, Barry, 1994. "The Bretton Woods System: Paradise Lost?," Center for International and Development Economics Research (CIDER) Working Papers 233394, University of California-Berkeley, Department of Economics.
    13. Pranab Bardhan, 1998. "The Contributions of Endogenous Growth Theory to the Analysis of Development Problems: An Assessment," Palgrave Macmillan Books, in: Fabrizio Coricelli & Massimo di Matteo & Frank Hahn (ed.), New Theories in Growth and Development, chapter 5, pages 97-110, Palgrave Macmillan.
    14. Barry Eichengreen & Andrew K. Rose & Charles Wyplosz, 1994. "Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System," NBER Working Papers 4898, National Bureau of Economic Research, Inc.
    15. Jeffrey A. Frankel, 1993. "Monetary regime choices for a semi-open country," Pacific Basin Working Paper Series 93-02, Federal Reserve Bank of San Francisco.
    16. Frankel, Jeffrey A. & Wei, Shang-Jin, 1993. "Emerging Currency Blocs," Center for International and Development Economics Research (CIDER) Working Papers 233209, University of California-Berkeley, Department of Economics.
    17. Barry Eichengreen., 1993. "Thinking about Migration: Notes on European Migration Pressures at the Dawn of the Next Millennium," Center for International and Development Economics Research (CIDER) Working Papers C93-019, University of California at Berkeley.
    18. Bardhan, Pranab, 1993. "Rational Fools and Cooperation in a Poor Hydraulic Economy," Center for International and Development Economics Research (CIDER) Working Papers 233195, University of California-Berkeley, Department of Economics.
    19. Eichengreen, Barry & Bayoumi, Tamim, 1994. "The political economy of fiscal restrictions: Implications for Europe from the United States," European Economic Review, Elsevier, vol. 38(3-4), pages 783-791, April.
    20. Eichengreen, Barry & Simmons, Beth, 1993. "International Economics and Domestic Politics: Notes on the 1920s," Center for International and Development Economics Research (CIDER) Working Papers 233212, University of California-Berkeley, Department of Economics.
    21. Jeffrey A. Frankel and Norbert Funke., 1994. "A Two-Country Analysis of International Targeting of Nominal GNP," Center for International and Development Economics Research (CIDER) Working Papers C94-035, University of California at Berkeley.
    22. Eichengreen, Barry, 1995. "Sterling in Decline Again: The 1931 and 1992 Crises Compared," Center for International and Development Economics Research (CIDER) Working Papers 233404, University of California-Berkeley, Department of Economics.

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    JEL classification:

    • F0 - International Economics - - General
    • G1 - Financial Economics - - General Financial Markets

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