JENS H LSCHER is Reader in Economics at the University of Brighton, where he is also Course Leader of the BA (Hons) International Finance and Capital Markets Studies and Head of the Research Group Economic and Social Transition. Previously he taught at the Universities of Berlin, Swansea, Birmingham and Chemnitz. He held Visiting Professorships at the Universities of Halle, Bonn, Bozen, New Brunswick in Cairo, Almaty and the Centre of Economic Research at the Deutsche Bundesbank. He is interested in monetary and transition economics, both areas in which he has published widely. He is the co-ed