This book, the 14th yearbook of the American Education Finance Association (AEFA), provides a review and appraisal of the "educational perestroika" that has occurred over the past decade, both in the United States and in other developed countries. Rather than assessing the outcomes of a decade of educational reform, it examines the present and future of educational reform. Part 1 contains seven chapters that explore reform initiatives in the United States, while the second part is comprised of four chapters that examine reform initiatives abroad. Part 3 considers the future of school reform. Following the preface, the chapters include: (1) "School Reform in the United States: Putting It into Context" (Susan H. Fuhrman, Richard F. Elmore, and Diane Massell); (2) "Cooperative Performance Incentives in Education" (Craig E. Richards, Daniel Fishbein, and Paula Melville); (3) "'Professionalizing' Teaching by Expanding Teachers' Roles" (Betty Malen); (4) "Decentralization and Community Control" (G. Alfred Hess, Jr.); (5) "Negotiating Reform: Preliminary Findings" (Julia E. Koppich and Charles Taylor Kerchner); (6) "Educational Choice: Competing Models and Meanings" (Bruce S. Cooper); (7) "Cost Analysis as a Tool for Education Reform" (David H. Monk and Jennifer A. King); (8) "International School Reform: Political Considerations" (Frances C. Fowler, William L. Boyd, and David N. Plank); (9) "Pursuit of School Quality in England and Wales" (Peter Ribbins and Hywel Thomas); (10) "Benevolence in Canadian Public Schools" (Daniel J. Brown); (11) "Educational Transformations in a 'United' Germany" (Wolfgang Mitter and Manfred Weiss); and (12) "School Reform and the 'New World Order'" (James W. Guthrie). A subject and author index are included. The appendix contains a list of the AEFA Board of Directors, 1993-94. (LMI)