Economic Transition in Hungary and East Germany
Author: J. Stephan
Publisher: Springer
Published: 1999-02-08
Total Pages: 302
ISBN-13: 0230596584
DOWNLOAD EBOOKWhat 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.