Publisher's Synopsis
High hopes for Soviet economic and political reform lost much of their lustre in early 1991. The tantalizing prospect of an untapped market of almost 300 million consumers eager for Western goods and technology was replaced by the reality of a Soviet Union near economic collapse. Gorbachev's lurch to the right, the growing political strife between Moscow and the republics, the military crackdown in the Baltics and the threat of economic collapse heightened anxieties about the direction of the reform effort, and, indeed, the future of the Soviet Union.;The evolving relationship between the center and the republics, and, as importantly, among the emerging republics themselves, is, perhaps now more than ever, of central importance to the destiny of the Soviet Union and eastern Europe.;What types of business opportunities do the republics realistically offer? What are the tangible effects of recent changes in banking, currency, and foreign investment laws and regulations?;What can be learned from early attempts at privatization? What is the role of local governments in the Soviet Union and to what extent have reform efforts confused local power structures? Are the Baltics, as Eastern officials so enticingly refer to them, "gateways" to the East? What factors should Western companies consider before moving into the Soviet market, and how can the Soviet republics attract Western investment? What are the legal prerequisites for a market economy? Based on a seminar that included the prime ministers of the "breakaway" republics of Latvia and Estonia, the chief economist of Deutsche Bank, the executive vice president of Vnesheconombank, the chairman of the U.S. headquarters of Yamaichi Securities, a number of business executives and lawyers involved in joint ventures in the Soviet Union as well as prominent academics, this volume seeks to answer some of these pressing questions. In contrast to much of the current literature on these topics, the contributors to this volume concern themselves with tangible, specific recommendations intended to be useful to policymaker, potential investor, and scholar alike.
