introduction; K.Z. Poznanski. Part One: Stabilization Program and Economic Recession. 1. Poland's Transition to Capitalism: Shock and Therapy; K.Z. Poznanski. 2. Poland's Quest for Economic Stabilization, 1988-1991: Interaction of Political Economy and Economics; B. Milanovic. 3. Taking Stock of the `Big Bang'; K. Crane. Part Two: Foreign Trade Sector: Reform and Policies. 4. The CMEA Demise, Trade Restructuring, and Trade Destruction in Eastern Europe: Initial Assessment; D.K. Rosati. 5. The New East and Old Trade and Payment Problems; J.M. van Brabant. 6. Liberalizing Foreign Trade in a Socialist Economy: the Problem of Negative Value Added; R.I. McKinnon. Part Three: Privatization of State Capital Assets. 7. East European Transformation: the Supply Side; W.W. Charemza. 8. Inflation Tax, Household Wealth, and Privatization in Poland; P.T. Gajdecka. 9. The Economic Transformation of Eastern Europe: the Case of Poland; J. Sachs. Part Four: Alternative Approaches to Economic Transition. 10. Evolutionary and Radical Approaches to Economic Reform; P. Murrell. 11. Transition to Market in a Comparative Perspective: an Historian's Point of View; J. Kochanowicz. 12. Is there a J-Curve for the Economic Transition from Socialism to Capitalism? J.C. Brada, A.E. King.