Changes Of Transition To Mixed Economy To China

A command economy occurs when the government control the main means of production. The government set prices and determines what is produced. A market economy is fundamentally different. It shifts ownership of the means of production to private individuals and firms. Prices and output are determined by market forces. To…Well, just take a look at Russia—a former communist country, stuck in the middle of a transition towards a more liberal market economy, endowed with an abundance of oil and natural resourcesA mixed economy has three of the following characteristics of a market economy. First, it protects private property. Second, it allows the free market and the laws of supply and demand to determine prices. Third, it is driven by the motivation of the self-interest of individuals.TRANsITIoN TO MARKET Change in Mentality The next condition for the transition to a market economy means a profound, fundamental revolution in more than just the industrialThis is because in a mixed economy there are private and public sectors that coexist together. Hence the transition to a mixed market economy can be best achieved by a fair labour market. During the period of transition, there is a number of problems that come up in the economy.

The Post-Soviet Union Russian Economy - Investopedia

Russia's transition to a market economy differs from China and Cuba. The command economy in Russia collapsed from a lack of supply, poor quality of goods and services, refusal to engage in tradee A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy. Transition economies undergo a set of structural transformations intended to develop market-based institutions.Transition and the Changing Role of Government Vito Tanzi. A complete transformation of the economy, the institutions, and economic processes requires, in addition, that Once a country has made the transition to a market economy, the role of government is dramatically different. It operates not through direct controls but mostly throughThe U.S. is a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces economic freedom when it comes to capital use, but it also allows for

Mixed Economy With Pros, Cons, and Examples

10.3 In a transitional economy, a(n) _____ economy is changing to a mixed-market economy. command 10.3 How might foreign investment be problematic for a transitioning economy?In a transitional economy, a(n) _____ economy is changing to a mixed-market economy. a. advanced b. command c. free-market d. developed. b. command. In a transitioning economy, what is a downside of rapid economic growth? a. Rapid economic growth can be difficult to regulate. b. Rapid economic growth benefits only the wealthy.AQA, Edexcel, OCR, IB Transition economies are involved in a process of moving from a centrally planned economy to a mixed or free market economy. Revision Video: Transition Economies Transition economies - revision videoA transition economy is one that is changing from central planning to free markets. Since the collapse of communism in the late 1980s, countries of the former Soviet Union, and its satellite states, including Poland, Hungary, and Bulgaria, sought to embrace market capitalism and abandon central planning.It is said that every economy in the world is unique in some way or another. However, these economies do share many of the same features and characteristics. Economists have been able to identify four different types of economy - traditional economy, command economy, market economy and mixed economy.

Jump to navigation Jump to search Not to be confused with Transition town economics.

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A transition economy or transitional economy is an economy which is changing from a centrally deliberate economy to a marketplace economy.[1] Transition economies undergo a set of structural transformations intended to expand market-based institutions. These include economic liberalization, the place prices are set by marketplace forces fairly than through a central planning group. In addition to this commerce boundaries are got rid of, there is a push to privatize state-owned enterprises and assets, state and collectively run enterprises are restructured as businesses, and a monetary sector is created to facilitate macroeconomic stabilization and the motion of personal capital.[2] The procedure has been implemented in China, the previous Soviet Union and Eastern bloc nations of Europe and a few Third global international locations, and detailed paintings has been undertaken on its financial and social effects.

The transition process is most often characterised via the changing and growing of establishments, specifically inner most enterprises; changes in the function of the state, thereby, the advent of basically different governmental institutions and the promotion of private-owned enterprises, markets and impartial monetary institutions.[3] In essence, one transition mode is the functional restructuring of state institutions from being a supplier of expansion to an enabler, with the private sector its engine. Another transition mode is exchange the way in which that economy grows and follow mode. The relationships between these two transition modes are micro and macro, partial and full. The in point of fact transition economics will have to include each the micro transition and macro transition. Due to the different initial prerequisites all over the emerging technique of the transition from deliberate economics to market economics, countries makes use of other transition style. Countries like P.R.China and Vietnam adopted a slow transition mode, however Russia and a few different East-European nations, akin to the previous Socialist Republic of Yugoslavia, used a extra competitive and faster paced style of transition.

The term "transition period" is also used to describe the method of transition from capitalism to the first degree of socialism, preceding the establishment of totally advanced socialism (aka communism).

Transition signs

The life of personal belongings rights is also the most basic component of a marketplace economy, and due to this fact implementation of these rights is the key indicator of the transition process.

The primary substances of the transition process are:

Liberalization – the process of allowing most prices to be decided in unfastened markets and reducing commerce limitations that had close off touch with the fee construction of the sector's market economies. Macroeconomic stabilization – bringing inflation underneath control and decreasing it over time, after the preliminary burst of high inflation that follows from liberalization and the release of pent-up demand. This procedure requires discipline over the government finances and the expansion of money and credit score (that is, discipline in fiscal and monetary policy) and growth toward sustainable stability of bills.[4] Restructuring and privatization – growing a viable financial sector and reforming the enterprises in these economies to render them capable of generating goods that could be bought in unfastened markets and shifting their ownership into deepest arms. Legal and institutional reforms – redefining the function of the state in those economies, setting up the guideline of regulation, and introducing suitable festival insurance policies.[5]

According to Oleh Havrylyshyn and Thomas Wolf of the International Monetary Fund, transition in a large sense implies:

liberalizing financial process, prices, and marketplace operations, along with reallocating resources to their best use; developing oblique, market-oriented instruments for macroeconomic stabilization; attaining efficient enterprise management and financial efficiency, generally thru privatization; implementing arduous price range constraints, which give incentives to make stronger potency; and setting up an institutional and criminal framework to protected assets rights, the rule of thumb of legislation, and transparent market-entry laws.[6]

Edgar Feige, cognizant of the trade-off between efficiency and fairness, suggests[7] that the social and political prices of transition changes can also be diminished through adopting privatization strategies which might be egalitarian in nature, thereby providing a social safety web to cushion the disruptive results of the transition process.

The European Bank for Reconstruction and Development (EBRD) developed a set of indicators to measure the progress in transition. The classification machine was at the beginning created in the EBRD's 1994 Transition Report, but has been subtle and amended in next Reports. The EBRD's general transition indicators are:

Large-scale privatization Small-scale privatization Governance and enterprise restructuring Price liberalization Trade and foreign currency echange system Competition coverage Banking reform and rate of interest liberalization Securities markets and non-bank monetary institutions Infrastructure reform[8]

Context

Further data: Soviet-type financial making plans

The financial malaise affecting the Comecon nations – low enlargement charges and diminishing returns on investment – led many home and Western economists to advocate market-based answers and a sequenced programme of financial reform. It used to be recognized that micro-economic reform and macro-economic stabilization had to be combined in moderation. Price liberalization with out prior remedial measures to eliminate macro-economic imbalances, including an escalating fiscal deficit, a growing money supply due to a prime stage of borrowing by way of state-owned enterprises, and the accrued savings of households ("monetary overhang") may just outcome in macro-economic destabilization instead of micro-economic potency. Unless marketers loved safe belongings rights and farmers owned their farms the method of Schumpeterian "creative destruction" would prohibit the reallocation of sources and prevent profitable enterprises from expanding to absorb the employees displaced from the liquidation of non-viable enterprises. A hardening of the budget constraints at state-owned enterprises would halt the drain at the state price range from subsidization however would require further expenditure to counteract the ensuing unemployment and drop in mixture family spending. Monetary overhang supposed that worth liberalization may convert "repressed inflation" into open inflation, increase the fee degree nonetheless further and generate a worth spiral. The transition to a marketplace economy would require state intervention along marketplace liberalization, privatization and deregulation. Rationing of essential shopper items, trade quotas and tariffs and an energetic financial policy to make sure that there used to be sufficient liquidity to handle commerce might be wanted.[9] In addition to tariff protection, measures to keep watch over capital flight had been additionally regarded as important in some instances.[10]

Transition in follow

The maximum influential strategy for the transition to a marketplace economy was that adopted by means of Poland launched in January 1990. The technique was once strongly influenced via IMF and World Bank analyses of a hit and unsuccessful stabilization programmes which had been adopted in Latin America in the Nineteen Eighties. The technique integrated a collection of interdependent measures together with macro-economic stabilization; the liberalization of wholesale and retail costs; the elimination of constraints to the development of non-public enterprises and the privatization of state-owned enterprises; the removal of subsidies and the imposition of onerous price range constraints; and the introduction of an export-oriented economy that used to be open to overseas trade and funding. The introduction of a social safety web centered at the person to compensate for the removal of activity security and the elimination of worth controls on staple items was also part of the strategy.[11]

The selection of the transition technique used to be influenced by the important state of maximum post-socialist countries. Policy-makers were persuaded that political credibility took precedence over a sequenced reform plan and to introduce macro-economic stabilization measures ahead of structural measures that would via their nature take longer to put into effect. The "credibility" of the transition process was once enhanced through the adoption of the Washington Consensus favoured via the IMF and the World Bank. Stabilization was once deemed a necessity in Hungary and Poland where state funds deficits had grown and overseas money owed had grow to be greater than the country's capacity to service. Western advisers and home experts running with the nationwide governments and the IMF presented stabilization programmes aiming to achieve exterior and inside steadiness, which become known as shock therapy. It was argued that "one cannot jump over a chasm in two leaps".[12]

The many international advisers from, principally, the United States, the United Kingdom and Sweden had been regularly under contract to the global monetary establishments and bilateral or multilateral technical assistance programmes. They favoured free trade and exchange rate convertibility slightly than commerce coverage and capital controls, which may have checked capital flight. They tended to enhance privatization without prior business restructuring; an exception was to be discovered in Eastern Germany where the Treuhand (Trust Agency) prepared state-owned enterprises for the marketplace at really extensive cost to the federal government.[13] Western technical assistance programmes had been established through European Union – in the course of the Phare and TACIS programmes – and other donors (including the USA AID, the UK Know-how Fund and UNDP) and by means of the IMF, the World Bank, EBRD and KfW, which also complicated loans for stabilization, structural adjustment, business restructuring and social protection. Technical help used to be delivered during the alternate of civil servants and via control experts, together with Agriconsulting, Atos, COWI, Ernst & Young, GOPA, GTZ, Human Dynamics, Idom, IMC Consulting, Louis Berger, NIRAS, PA Consulting, PE International, Pohl Consulting, PwC, and SOFRECO.

It were expected that the advent of current account convertibility and overseas commerce liberalization would drive a forex devaluation that might beef up export-led enlargement.[14] However, when prices had been de-controlled enterprises and outlets raised their prices to fit those prevailing in the black market or towards international worth levels, earning them providence earnings first of all. Consumers reacted by decreasing their purchases and through substituting better high quality imported items in place of regionally produced items. Falling sales led to the collapse of many domestic enterprises, with body of workers lay-offs or decreased hours of work and pay. This additional reduced efficient demand. As imports grew and exporters failed to respond to opportunities in global markets due to the deficient high quality in their products and loss of sources for investment, the commerce deficit expanded, striking downward pressure at the trade price. Many wholesalers and shops marked costs according to their dollar values and the falling trade price fed inflation. The central banks in a number of international locations raised interest rates and tightened credit stipulations, depriving state agencies and enterprises of working capital. These in turn discovered it not possible to pay wages on time, dampening efficient demand further.[15]

The impacts of the normal transition strategies proved to be de-stabilizing in the non permanent and left the population impoverished in the long-term. Economic output declined a lot more than expected. The decline in output lasted until 1992-Ninety six for all transition economies. By 1994, economic output had declined throughout all transition economies through 41 p.c in comparison to its 1989 degree. The Central and Eastern European economies started rising once more round 1993, with Poland, which had begun its transition programme earliest emerging from recession in 1992. The Baltic States came out of recession in 1994 and the remainder of the previous Soviet Union around 1996. Inflation remained above 20 percent a year (aside from in the Czech Republic and Hungary) till the mid-Nineties. Across all transition economies the height annual inflation rate was once 2632 % (4645 p.c in the CIS).[16] Unemployment larger and wages fell in actual terms, although in Russia and other CIS economies the rate of unemployment recorded at employment exchanges remained low. Labour power surveys undertaken by means of the International Labour Organization showed considerably higher rates of joblessness and there used to be considerable inside migration.[17] High rates of interest induced a "credit crunch" and fuelled inter-enterprise indebtedness and hampered the expansion of small and medium-sized enterprises, which regularly lacked the connections to download finance legitimately.[18]

In time domestic manufacturers had been ready to upgrade their manufacturing capability and international direct investment was once attracted to the transition economies. Local-manufactured higher quality consumer items turned into to be had and received market percentage again from imports. Stabilization of the trade charge was once made more difficult via large-scale capital flight, with domestic brokers sending part of their earning in another country to destinations where they believed their capital was extra protected. The promise of European Union membership and the adoption of the EU's regulation and rules (the Community acquis or acquis communautaire) helped secure accept as true with in assets rights and economic and governmental establishments in a lot of Central and Eastern Europe.

Some economists have argued that the expansion performance of the transition economies stemmed from the low level of development, many years of commerce isolation and distortions in the socialist planned economies. They have emphasized that the transition methods adopted reflected the desire to unravel the economic crisis besetting the socialist deliberate economies and the overriding purpose used to be the transformation to capitalist marketplace economies rather than the fostering of monetary growth and welfare.[19]

But by 2000, the EBRD was once reporting that the effects of the preliminary starting point in each transition economy on the reform procedure had pale. Although the rules were laid for a functioning market economy via sustained liberalization, complete privatization, openness to global trade and investment, and the establishment of democratic political programs there remained institutional challenges. Liberalized markets were not essentially aggressive and political freedom had now not avoided tough private interests from exercising undue influence.[20]

Ten years on, in the Transition Report for 2010, the EBRD was once nonetheless finding that the quality of market-enabling establishments persisted to fall in need of what was once essential for well-functioning market economies. Growth in the transition economies had been pushed through trade integration into the sector economy with "impressive" export efficiency, and by means of "rapid capital inflows and a credit boom". But such growth had proved risky and the EBRD thought to be that governments in the transition economies should foster the improvement of domestic capital markets and make stronger the industry atmosphere, including monetary institutions, real property markets and the power, delivery and communications infrastructure. The EBRD expressed issues about regulatory independence and enforcement, price atmosphere, and the marketplace energy of incumbent infrastructure operators.[21]

Income inequality as measured by means of the Gini coefficient rose significantly in the transition economies between 1987 and 1988 and the mid-Nineties. Poverty re-emerged with between 20 and 50 % of folks residing underneath the nationwide poverty line in the transition economies. The UN Development Programme calculated that overall poverty in Eastern Europe and the CIS higher from 4 percent of the population in 1988 to 32 percent via 1994, or from 14 million people to 119 million.[22] Unemployment and rates of monetary inactiveness have been nonetheless top in the past due Nineteen Nineties according to survey information.[23]

By 2007, the year sooner than the worldwide financial disaster hit, the index for GDP had reached 112 when compared to 100 in 1989 for the transition economies. In different words, it took just about two decades to restore the extent of output that had existed prior to the transition. The index of financial output (GDP) in the countries of Central and Eastern Europe was once 151 in 2007; for the Balkans/ South-eastern Europe the index was once 111, and for the Commonwealth of Independent States and Mongolia it used to be 102. Several CIS international locations in the Caucasus and Central Asia in addition to Moldova and Ukraine had economies that have been considerably smaller than in 1989.[24]

The global recession of 2008-09 and the Eurozone disaster of 2011-Thirteen destabilized the transition economies, reduced growth rates and larger unemployment. The slowdown hit government revenues and widened fiscal deficits but virtually all transition economies had skilled a partial recovery and had maintained low and stable inflation since 2012.[25]

Process

Transition trajectories have varied significantly in practice. Some nations were experimenting with marketplace reform for a number of decades, whilst others are relatively recent adopters (e.g., North Macedonia, Serbia, Montenegro), and Albania. In some instances reforms were accompanied with political upheaval, such because the overthrow of a dictator (Romania), the cave in of a government (the Soviet Union), a declaration of independence (Croatia), or integration with another nation (East Germany). In different cases financial reforms were adopted by way of incumbent governments with little pastime in political trade (China, Laos, Vietnam).[26] Transition trajectories additionally vary in terms of the extent of central making plans being relinquished (e.g., top centralized coordination a number of the CIS states) in addition to the scope of liberalization efforts being undertaken (e.g., somewhat restricted in Romania). Some countries, corresponding to Vietnam, have experienced macro-economic upheavals over other classes of transition, even transition turmoil.[27]

According to the World Bank's 10 Years of Transition file "... the wide dispersion in the productivity of labour and capital across types of enterprises at the onset of transition and the erosion of those differences between old and new sectors during the reform provide a natural definition of the end of transition."[28] Mr. Vito Tanzi, Director of the IMF's Fiscal Affairs Department, gave definition that the transformation to a market economy is not complete till functioning fiscal institutions and reasonable and inexpensive expenditure programs, including basic social safety nets for the unemployed, the ill, and the aged, are in place. Mr Tanzi mentioned that these spending systems must be financed from public revenues generated—via taxation—with out enforcing excessive burdens at the private sector.[29]

According to the EBRD a well-functioning market economy must experience a various vary of economic actions, equality of opportunity and convergence of incomes. These results had now not yet been completed by means of 2013 and progress in setting up well-functioning market economies had stalled since the Nineties. On the EBRD's measure of transition indicators the transition economies had develop into "stuck in transition". Price liberalization, small-scale privatization and the opening-up of commerce and foreign exchange markets were most commonly entire by the end of the Nineties. However financial reform had slowed in spaces such governance, venture restructuring and competition coverage, which remained considerably below the usual of other evolved market economies.[30]

Inequality of opportunity used to be higher in the transition economies of Central and Eastern Europe and Central Asia than in every other advanced economies in Western Europe (aside from France, the place inequality of alternative was once slightly prime). The highest inequality of alternative was found in the Balkans and Central Asia. In terms of prison laws and get entry to to education and well being services and products, inequality of alternative comparable to gender used to be low in Europe and Central Asia however medium to top in respect of labour practices, employment and entrepreneurship and in get admission to to finance. In Central Asia girls additionally skilled vital lack of get entry to to health services, as was the case in Arab international locations.[31] While many transition economies carried out properly with appreciate to number one and secondary education, and paired that available in many different evolved economies, they have been weaker when it got here to coaching and tertiary education.[32]

Over the last decade 1994 to 2004, the transition economies had closed one of the gap in income in keeping with individual with the common for the European Union in buying energy parity phrases. These beneficial properties had been pushed via sustained growth in productivity as out of date capital inventory used to be scrapped and production shifted to take advantage of the opening-up of international trade, price liberalization and international direct investment. However the rapid growth rates of that duration of catch-up had stalled because the late 2000s and the potentialities for income convergence have receded in accordance to the EBRD's prognosis, except there are further productivity-enhancing structural reforms.[33]

The recent history of transition steered that weak political institutions and entrenched hobby teams had hindered economic reform. The EBRD's Transition Report 2013 regarded on the dating between transition and democratization. The document said that the academic literature was divided on whether or not economic building fostered democracy however argued that there used to be nevertheless strong empirical improve for the speculation. It suggested that countries with top inequality were less prone to make stronger a restricted and accountable state. In basic, the proportion of the population with an source of revenue of between US–50 a day (the so-called "middle class") correlated with the level of democracy; on the other hand this correlation disappeared in transition international locations with high source of revenue inequality. Those countries with huge natural resource endowments, for example oil and fuel producers like Russia and Kazakhstan, had much less responsible governments and faced less electoral power to tackle robust vested interests for the reason that government may just rely on useful resource rents and didn't have to tax the population closely. Countries with a strong institutional environment – that is, effective rule of regulation, protected property rights and uncorrupted public administration and corporate governance – have been better positioned to attract funding and adopt restructuring and regulatory change.[34]

To spur further financial reform and break out of a vicious circle, the EBRD Transition Report 2013 proposed that the transition economies should:

Open up trade and finance, which made reform extra resilient to popular drive ("market aversion") and intended that international locations may just access the EU single market both as member states or via association agreements (comparable to the ones being negotiated with Ukraine, Moldova and Georgia); Encourage clear and accountable government, with media and civil society scrutiny, and political festival at elections; Invest in human capital, particularly by bettering the standard of tertiary training.[35]

Countries in transition

Although the time period "transition economies" usually covers the nations of Central and Eastern Europe and the Former Soviet Union, this time period can have a wider context. Outside of Europe, there are international locations emerging from a socialist-type command economy against a market-based economy (e.g., China). Despite such actions, some international locations have chosen to remain non-free states with regard to political freedoms and human rights.

In a wider sense, the definition of transition economy refers to all nations which strive to alternate their basic constitutional elements against market-style basics. Their beginning may well be additionally in a post-colonial scenario, in a heavily regulated Asian-style economy, in a Latin American post-dictatorship, and even in a come what may economically underdeveloped nation in Africa.[3]

In 2000, the IMF listed the next countries with transition economies:[5]

EuropeIMF (2000), World Bank (2002, 2009) In transition Transition entire (2019) Albania Armenia Belarus Bosnia and Herzegovina1 Georgia Kosovo1 North Macedonia Moldova Montenegro1 Serbia1 Ukraine Bulgaria Croatia Czech Republic Estonia Hungary Latvia Lithuania Poland Romania Slovak Republic Slovenia

1 — World Bank evaluation

Other nations(IMF, 2000) In transition RussiaCentral and Southeast Asia Kazakhstan Kyrgyz Republic Tajikistan Turkmenistan Uzbekistan Cambodia China Laos VietnamAfrica Botswana

In addition, in 2002, the World Bank defined Bosnia and Herzegovina, and the Federal Republic of Yugoslavia (later Serbia and Montenegro) as transition economies.[28] In 2009, the World Bank incorporated Kosovo in the checklist of transition economies.[36] Some World Bank research also come with Mongolia.[37] According to the IMF, Iran is in transition to a marketplace economy, demonstrating early levels of a transition economy.[38]

The eight first-wave accession countries, which joined the European Union on 1 May 2004 (the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia) and the two second-wave accession nations that joined on 1 January 2007 (Romania and Bulgaria), have completed the transition process.[39] According to the World Bank, "the transition is over" for the ten international locations that joined the EU in 2004 and 2007.[40] It will also be also understood as all international locations of the Eastern Bloc.[41]

Branch of economics

Transition economics is a special branch of economics coping with the transformation of a deliberate economy to a market economy. It has become especially essential after the cave in of Communism in Central and Eastern Europe. Transition economics investigates how an economy should reform itself to endorse capitalism and democracy. There are usually two facets: one which argues for a fast transformation and one that argues for a sluggish means. Gérard Roland's guide Transition and Economics. Politics, Markets and Firms (MIT Press 2000) offers a excellent evaluate of the sphere. A more moderen overview is equipped in Transition Economies: Political Economy in Russia, Eastern Europe, and Central Asia by Martin Myant and Jan Drahokoupil.[42]

See additionally

Soviet-type economy Planned economy Mixed economy Marketization Privatization Corporatization Real socialism

References

^ .mw-parser-output cite.citationfont-style:inherit.mw-parser-output .citation qquotes:"\"""\"""'""'".mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free abackground:linear-gradient(transparent,clear),url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")appropriate 0.1em center/9px no-repeat.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .quotation .cs1-lock-registration abackground:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")appropriate 0.1em middle/9px no-repeat.mw-parser-output .id-lock-subscription a,.mw-parser-output .quotation .cs1-lock-subscription abackground:linear-gradient(clear,transparent),url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")appropriate 0.1em middle/9px no-repeat.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registrationcolour:#555.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration spanborder-bottom:1px dotted;cursor:help.mw-parser-output .cs1-ws-icon abackground:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em heart/12px no-repeat.mw-parser-output code.cs1-codecolour:inherit;background:inherit;border:none;padding:inherit.mw-parser-output .cs1-hidden-errordisplay:none;font-size:100%.mw-parser-output .cs1-visible-errorfont-size:100%.mw-parser-output .cs1-maintdisplay:none;color:#33aa33;margin-left:0.3em.mw-parser-output .cs1-formatfont-size:95%.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-leftpadding-left:0.2em.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-rightpadding-right:0.2em.mw-parser-output .citation .mw-selflinkfont-weight:inheritFeige, Edgar L. 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Archived 7 August 2011 at the Wayback Machine, Comparative Economic Studies Vol. XXXII, No.3 Fall 1990] ^ EBRD's 1994 Transition Report ^ Padma Desai, The Soviet Economy: Problems and Prospects, 1990, Oxford: Basil Blackwell, pp. xiii-xxii and 164 ISBN 0-631-17183-5 ^ Michael Kaser on Privatization in the CIS in Alan Smith (editor), Challenges for Russian Economic Reform, 1995, London: Royal Institute for International Affairs and Washington DC: The Brookings Institution, p. 122. ^ Alan Smith, Introduction in Alan Smith (editor), Challenges for Russian Economic Reform, 1995, London: Royal Institute for International Affairs and Washington DC: The Brookings Institution, p. 5. ^ Marie Lavigne, The Economies of Transition: From socialist economy to marketplace economy, 1995, London: Macmillan, pp. 117–119, 121 ISBN 0-333-52731-3 ^ Michael Kaser on Privatization in the CIS in Alan Smith (editor), Challenges for Russian Economic Reform, 1995, London: Royal Institute for International Affairs and Washington DC: The Brookings Institution, pp. 122–123. ^ Marie Lavigne, The Economies of Transition: From socialist economy to marketplace economy, 1995, London: Macmillan, pp. 116–117, 121 ISBN 0-333-52731-3 ^ Marie Lavigne, The Economies of Transition: From socialist economy to market economy, 1995, London: Macmillan, pp. 130–135, 121 ISBN 0-333-52731-3 ^ IMF personnel estimates in Stanley Fischer, Ratna Sahay and Carlos Vegh, Stabilization and expansion in transition economies: The early experience, April 1996, IMF Working Paper WP/96/31, Table 2, p. 8; downloaded from http://mpra.ub.uni-muenchen.de/20631/; retrieved on 1/11.2013; UNDP, Human Development Report for Central and Eastern Europe and the CIS, 1999, New York: United Nations Development Programme, Table 2.1, p. 14 ISBN 92-1-126109-0. ^ Simon Clarke (editor), Structural Adjustment without Mass Unemployment? Lessons from Russia, 1998, Cheltenham: Edward Elgar, pp. 40–41, Forty nine and 53 ISBN 1-85898-713-X; J L Porket, Unemployment in Capitalist, Communist and Post-Communist Economies, 1995, London: Macmillan pp. 98–One hundred and 117 ISBN 0-312-12484-8. ^ Marie Lavigne, The Economies of Transition: From socialist economy to marketplace economy, 1995, London: Macmillan, pp. 130, 146, 150-154 ISBN 0-333-52731-3 ^ László Csaba, Transformation as a topic of monetary idea in Zbyněk Balandrán and Vít Havránek, Atlas of Transformation, 2011 at [1], retrieved 1/11/2013; Jeffrey Sachs, What I did in Russia, posted 14 March 2012, at http://jeffsachs.org/2012/03/what-i-did-in-russia/ retrieved 1/11/2013. ^ EBRD, Transition Report 2000, London: European Bank for Reconstruction and Development, p. 13 ISBN 1-898802-17-3. ^ EBRD, Transition Report 2010, London: European Bank for Reconstruction and Development, pp. 2–5. ISSN 1356-3424 The ISBN published in the document (978-1-898802-33-1) is invalid. ^ The UNDP used a poverty line of in keeping with person according to day in 1990 dollars at purchasing power parity; UNDP, Human Development Report for Central and Eastern Europe and the CIS, 1999, New York: United Nations Development Programme, Table 2.5, pp. 20–21 ISBN 92-1-126109-0. ^ EBRD, Transition Report 2000, London: European Bank for Reconstruction and Development, Table 5.2, p. 103 ISBN 1-898802-17-3. ^ EBRD, Transition Report 2008, London: European Bank for Reconstruction and Development, Table A.1.1.1, p. Thirteen ISBN 978-1-898802-31-0. ^ EBRD, Transition Report 2013, 2013, London: European Bank for Reconstruction and Development, pp. 8 and 99-105. ^ Vuong, Quan-Hoang. Financial Markets in Vietnam's Transition Economy: Facts, Insights, Implications. Saarbrücken, Germany: VDM Verlag, Feb. 2010. ISBN 978-3-639-23383-4. ^ Napier, Nancy Ok.; Vuong, Quan Hoang. What we see, why we concern, why we hope: Vietnam going forward. Boise, ID: Boise State University CCI Press, October 2013. ISBN 978-0985530587. ^ a b The first ten years. Analysis and Lessons for Eastern Europe and the Former Soviet Union (PDF). The International Bank for Reconstruction and Development/The World Bank. 2002. pp. xix, xxxi. ISBN 0-8213-5038-2. Retrieved 9 March 2009. ^ Tanzi, Vito. Transition and the Changing Role of Government, Finance & Development Magazine, June 1999, Volume 36, Number 2 via the International Monetary Fund ^ EBRD, Transition Report 2013, 2013, London: European Bank for Reconstruction and Development, pp. 8 and 13. ^ EBRD, Transition Report 2013, 2013, London: European Bank for Reconstruction and Development, pp. 6 and 78-96. ^ EBRD, Transition Report 2013, 2013, London: European Bank for Reconstruction and Development, p. 6. ^ EBRD, Transition Report 2013, 2013, London: European Bank for Reconstruction and Development, pp. 4, 8 and 10-17. ^ EBRD, Transition Report 2013, 2013, London: European Bank for Reconstruction and Development, pp. 5, 8-9, 34-35, 38-39 and 106. The Transition Report 2013 assessed the level of democracy in terms of the Polity IV Index on the kind of governance regime, printed via the Center for Systemic Peace, which rates governance at the foundation of whether states have institutionalized processes for open, aggressive and deliberative political participation; chooses and replaces chief executives in open, aggressive elections; and imposes checks and balances on the discretionary power of the manager; see Polity information sequence. ^ EBRD, Transition Report 2013, 2013, London: European Bank for Reconstruction and Development, pp. 5, 34, 38 and 52-53. ^ "Kosovo – Country Brief 2010". The International Bank for Reconstruction and Development/The World Bank. October 2010. Retrieved 3 February 2011. ^ Ianchovichina, Elena; Gooptu, Sudarshan (1 November 2007). "Growth diagnostics for a resource-rich transition economy : the case of Mongolia" (PDF). The International Bank for Reconstruction and Development/The World Bank. Retrieved 9 March 2009. Cite magazine calls for |magazine= (assist) ^ Jbili, A.; Kramarenko, V.; Bailén, J. M. (1 March 2007). Islamic Republic of Iran: Managing the Transition to a Market Economy (PDF). The International Monetary Fund. p. xii. ISBN 978-1-58906-441-6. Retrieved 3 February 2011. ^ EBRD. Law in transition online 2006 – Focus on central Europe Archived 7 July 2007 on the Wayback Machine ^ Unleashing Prosperity: Productivity Growth in Eastern Europe and the Former Soviet Union, World Bank, Washington (2008), p. 42 ^ http://www.oecd.org/globalrelations/regionalapproaches/centralandeasterneuropethecaucasusandcentralasia.htm ^ Myant, Martin; Jan Drahokoupil (2010). Transition Economies: Political Economy in Russia, Eastern Europe, and Central Asia. Hoboken, New Jersey: Wiley-Blackwell. ISBN 978-0-470-59619-7.

External hyperlinks

Åslund, Anders (2008). "Transition Economies". In David R. Henderson (ed.). Concise Encyclopedia of Economics (2nd ed.). Indianapolis: Library of Economics and Liberty. ISBN 978-0865976658. OCLC 237794267. Policy Research Working Papers from the World Bank Health in transition economies – a file Quarterly Newsletter issued by means of UNDP and LSE on Development and Transition problems in Europe and CIS IMF: Nsouli, S. M. "A Decade of Transition – An Overview of the Achievements and Challenges" GDP and Industrial Output all over transition 1990–present – statistics Retrieved from "https://en.wikipedia.org/w/index.php?title=Transition_economy&oldid=998163093"