Are the emerging securities markets in Eastern Europe worth paying attention to? Yes, if one is careful and avoids the "conventional wisdom." The conventional wisdom is that Poland, Hungary, and the Czech Republic are on track to become members of the European Union (EU), that their growth will be export-led, and that they are set to take off in the foreseeable but always indefinite future. Each of these three assumptions is either a little off-base or just plain wrong-headed.

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DR. ROBERT M. CUTLER was educated at MIT and The University of Michigan, where he earned a Ph.D. in Political Science, and has specialized and consulted in the international affairs of Europe and Eurasia for twenty years. He has held research and teaching positions at major universities in the United States, Canada, France, Switzerland, and Russia, and contributed to leading policy reviews and academic journals as well as the mass media in three languages.

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Article text: Copyright © BCA Publications
Reproduced under fair-use provision, intended for personal use only
This Web-based compilation: Copyright © Robert M. Cutler
Document location (URL): http://www.robertcutler.org/ab95ema.htm
First Web-published: 3 November 1996
Content last modified: 3 November 1996Document last reformatted: 24 August 1999