An effective criterion for algebraic contractibility of rational curves

Let f: Y -> CP^2 be a birational morphism of non-singular (rational) surfaces. We give an effective (necessary and sufficient) criterion for algebraicity of the surfaces resulting from contraction of the union of the strict transform of a line on CP^2 and all but one of the exceptional divisors of f. As a by-product we construct normal non-algebraic Moishezon surfaces with the simplest possible' singularities, which in particular completes the answer to a remark of Grauert. Our criterion involves global variants’ of `key polynomials’ introduced by MacLane. The geometric formulation of the criterion yields a correspondence between normal algebraic compactifications of C^2 with one irreducible curve at infinity and algebraic curves in C^2 with one place at infinity.