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This publication features a selection of papers from a conference focused on key issues in transition economics, including liberalization, privatization, and stabilization, alongside the experiences of various countries. The discussions led to several hypotheses: - Analyzing the historical and economic aspects of successful phases within the socialist central planning system is essential. - The distribution of personal incomes and wealth plays a crucial role in the transformation process, raising questions about the "optimal change" in these distributions during this period. - Evaluating the costs and benefits of reform policies requires a methodological approach that incorporates an intertemporal perspective. - The extent of EU protectionism against non-member countries remains a critical question. - The institutional environment, particularly the relevance of financial markets, must be considered when analyzing the transition process. - Granting early independence to central banks from public finance obligations may help eliminate monetary overhangs. - A rapid liberalization strategy, as seen in Central and Eastern European countries, appears to yield more success than a gradual approach, which has been observed in Russia, Ukraine, and Belarus, especially when coupled with interventionist trade policies.
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Transition in Eastern Europe, Herbert Wilkens
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- 1997
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