Economic Transition in Hungary and East Germany : Gradualism, Shock Therapy and Catch-Up Development
by
J. Stephan
Book Details
Format
Hardback or Cased Book
Book Series
Studies in Economic Transition
ISBN-10
0333751434
ISBN-13
9780333751435
Publisher
Palgrave Macmillan
Imprint
Palgrave Macmillan
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Feb 8th, 1999
Print length
293 Pages
Ksh 16,200.00
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A stability-oriented incomes policy and a carefully managed integration strategy can enable sustainable export surpluses, a competitive currency and macroeconomic stability, whilst providing sufficient room for economic restructuring, structural transformation and technological catch-up.
What factors determine the success of economic transition, development and growth? Examining the contrast between East German shock-therapy and Hungary's gradualism, the book generates a set of generalisable conditions for economic development which imply some degree of state intervention and strategy. A stability-oriented incomes policy and a carefully managed integration strategy can enable sustainable export surpluses, a competitive currency and macroeconomic stability, whilst providing sufficient room for economic restructuring, structural transformation and technological catch-up. The dangers of premature integration are examined.
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