From Plan to Market: Patterns of Transition
1997, Macroeconomic Stabilization in Transition Economies
https://doi.org/10.1017/CBO9780511572012.003Abstract
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This paper analyzes the patterns of economic transition in Central and Eastern Europe (CEE) and the former Soviet Union (FSU) as they moved from socialist systems to market economies. It highlights the common challenges faced by countries at similar stages of stabilization, emphasizing the significance of reform indices that combine the intensity and duration of economic liberalization. Findings indicate that while liberalization may lead to initial output contractions, it is essential for long-term growth and stabilization. The research also discusses the political aspects influencing the pace of economic reforms and examines the implications of fiscal policies during the transition.
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