Concept information
Preferred term
transition economies
Definition
- Transition economies are countries with economies in transition that abandoned state socialism and central planning and have been attempting a move to capitalism. The central process of economic transformation typically involves three fundamental, revolutionary, systemic changes, including liberalization, macroeco-nomic stabilization, and structural adjustment through commodification, marketization, privatization, and the reduction of the role of the state. [Source: Encyclopedia of Business in Today's World; Transition Economies]
Broader concept
Belongs to group
URI
http://data.loterre.fr/ark:/67375/N9J-PNB6Q0WR-X
Equivalent concepts
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