What is a "In A Transitioning Economy"? The Most Authoritative Explanation.

What is a "In A Transitioning Economy"? The Most Authoritative Explanation.

What is transition economics?

Transition economics is a special branch of economics dealing with the transformation of a planned economy to a market economy. It has become especially important after the collapse of Communism in Central and Eastern Europe. Transition economics investigates how an economy should reform itself to endorse capitalism and democracy.

Which countries are considered transition economies?

There are also transition economies in Asia, Africa, and Latin America. In Asia the transition economies include Cambodia, China, Laos, Mongolia, Thailand, and Vietnam. Transition economies in Africa include Mozambique and Angola, and in Latin America the economies of Brazil and Chile are considered to be transition economies.

What influenced the transition to a market economy?

The most influential strategy for the transition to a market economy was that adopted by Poland launched in January 1990. The strategy was strongly influenced by IMF and World Bank analyses of successful and unsuccessful stabilization programmes which had been adopted in Latin America in the 1980s.

How important is stabilizing inflation in a transition economy?

The first and most important lesson is that stabilizing inflation (the overall rising of prices in an economy) is crucial to the long-term success of any transition economy. Most transition economies experience an initial three- to five-year period of decline because of inflation before undergoing a sustained period of growth.

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