Presenting an integrated view of transition based on a unified analytical framework, this text evaluates the experience of several transition economies. The author's view of transition emphasizes the connection between peculiar initial conditions and the effects of market reforms. Taking the starting point of underdeveloped markets and market institutions, he evaluates macroeconomic policies in relation to their impact on the development of markets. He stresses particularly financial markets, the "missing" market under the system of central planning and highlights fundamental trade-offs for economic policy, which can play a crucial role in determining the success of reforms. Intensity and timing of reform measures, he argues, should be adapted to different situations.
- ISBN10 9639116084
- ISBN13 9789639116085
- Publish Date 1 April 1998 (first published 1 December 1997)
- Publish Status Out of Print
- Out of Print 15 July 2008
- Publish Country HU
- Imprint Central European University Press
- Format Paperback
- Pages 166
- Language English