An Analysis of the Factors that Have Determined the Success of Macroeconomic Stabilization Programs in Transition Economies

Abstract

It is important to know the determinants of the transition process to help different countries develop strategies that are appropriate to their national context and ultimately successful. Central and Eastern Europe is a typical transition country, and the disparity in the degree of transition between individual countries provides scholars with valuable research experience and food for thought. This article outlines the reasons why different countries in Central and Eastern Europe succeeded or failed, and how different strategies had positive or negative effects after starting the transition. In conclusion, the success of transition economies depends on the establishment of good market systems on the economic front, effective systems on the political front, and the development of approaches that are appropriate to the national context.