Abstract
The article gives the analysis of achievements of the most important Central and East European states, involved in the formation of a market economy, as relevant to the strategy of achieving the targeted goal. The analysis is aimed at revealing the advantages of transition to a market economy and possible costs. The period of 1985-1994 under analysis is the beginning of restructuring of the economy of the countries in transition and the point of turning. For comparative purposes, the basic economic, macroeconomic indicators, the growth of economy and structure, consumption, health care and education, State budget and payment balance, and other important economic and social indicators have been used that describe the level of economic and social development of state, its place in the world labour division. By using the comparative analysis attempts are made to relate the results of the economic and social development of the countries with the selected strategy of transition to a market economy. No doubt, various causes may have an effect on the economic and social achievements of the country, but this is logically inseparable from the strategy of the development of the country.
Highlights
Post-socialist states, upon the disintegration of command economy, have faced the dilemma of choice - either revolutionary or evolutionary development
When crisis of a transitional period in most of the former socialist states has been overcome, the economy starts to stabilise and grow, the choice of a market economy model - liberal or socially oriented - still remains of importance
[1] Bulgaria, Lithuania, Latvia, Poland, Estonia, Russia, the Czech Republic, and Hungary are attributed to the countries with an average income level, where GNP per capita in 1994 constituted from USD 725 to 8,956
Summary
The article gives the analysis of achievements of the most important Central and East European states, involved in the formation of a market economy, as relevant to the strategy of achieving the targeted goal. When crisis of a transitional period in most of the former socialist states has been overcome, the economy starts to stabilise and grow, the choice of a market economy model - liberal or socially oriented - still remains of importance. Both of these models have been implemented in various countries (China, USA, Germany, Japan, and Chile). The comparative analysis shows the economic and social results achieved by the transitional countries that selected a certain way of economic transformation and the results attained within the same period by the capitalist countries with the stable economy that have been implementing a liberal or socially oriented economic model
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