Introduction to the Transition Process

John Marangos

Chapter Chapter 4 in Consistency and Viability of Islamic Economic Systems and the Transition Process, 2013, pp 117-138 from Palgrave Macmillan

Abstract: Abstract The collapse of centrally administered socialism in Central and Eastern Europe and the former Soviet Union (CEEFSU) resulted in what was commonly referred to as the transition problem. This problem was how to transition from centrally administered socialist economic system to a market-based economic system. Economies that attempted to replace central administration in the form of direct planning with market institutions are commonly known as transitional economies (Gardner 1998, p. 9). Economic science responded to the problem by developing an appropriate body of economic analysis, advice, and direction to the transition process.

Keywords: Central Bank; Market Economy; Transition Process; Primary Element; State Enterprise (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-32726-0_4

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DOI: 10.1057/9781137327260_4

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