Title: Economic Transformation: From Central Planning to Market Economy
Abstract: This article outlines the economic transformation from central planning to the market system that socialist countries embarked upon at the end of the twentieth century. Over 30 countries, comprising Central and Eastern European countries, republics of the former Soviet Union, China, and Vietnam, undertook the transition from plan to market and from socialism to capitalism. Key elements of the transformation are discussed, namely, theories and paradigms, central planning and initial conditions, reforms and economic policies, institutions, performance and outcomes, and, finally, lessons and an assessment of this unique social science experiment.
Publication Year: 2015
Publication Date: 2015-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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Cited By Count: 2
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