Macroeconomic policies and achievements in transition economies, 1989-1999
Journal Title: Journal of European Economy - Year 2002, Vol 1, Issue 1
Abstract
The primary purpose of this paper is to consider and answer the following questions: • How far have the transition economies of central Europe and the former Soviet Union been able to establish the macroeconomic framework needed for sustaining investment and economic growth? • What distinguishes the more successful from the less successful initial conditions, the political environment, the state of institutions? • How far have weak or missing institutions hampered effectual policy-making? • Have macroeconomic policy dilemmas been intensified by weak institutions? • Has too much emphasis been placed on lowering inflation – or reducing it too rapidly – at the expense of economic growth? • What lessons can be drawn for those transition economies which are still struggling to achieve macroeconomic stability and economic growth? • Under the emerging economic system, what is the potential contribution to growth of the technological convergence (catching-up) factor?
Authors and Affiliations
Stanislaw Gomulka
Keywords
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