The Economics of Transition: From Socialist Economy to Market Economy

by Marie Lavigne (Author)

• Used

  Paperback
  1995

  $8.73

  This volume examines the transition to a market economy which is taking place in Eastern Europe and in the former Soviet Union. The historic basis of the socialist economic system is reviewed and the transition process analyzed. Stabilizing the economic situation and conducting systemic transformation has proved more difficult and is lasting longer than expected. Factors which explain these difficulties are outlined: legacies from the past; some external shocks; political and economic domestic factors; and the fact that no ready-made recipes or structural adjustment programmes are available. The impact of this unprecedented process on the Western developed world is also analyzed.