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The book analyzes the success factors of economic transition by contrasting East Germany's rapid shock therapy with Hungary's gradual approach. It identifies essential conditions for economic development that advocate for some state intervention and strategic planning. Key themes include the importance of a stability-oriented incomes policy and a managed integration strategy to achieve sustainable export surpluses and macroeconomic stability, while also addressing the risks associated with premature integration.
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Economic Transition in Hungary and East Germany, J. Stephan
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- 1999
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