Abstract
The market-oriented economic reforms in Eastern Europe tend to substitute what were basically centrally planned processes for the allocation of resources with a instantaneous highly decentralized market mechanism. Since the implementation of complete markets cannot be instantaneous, transition periods cannot be avoided and are likely to take time. The transition phase takes different forms depending on where and when the market mechanism and, more generally, competition are implemented.
I am grateful for valuable discussions and encouragements from Giorgio Garau, Christian Ghiglino, Martino Lo Cascio, Jose Montano, Martine Orélio, Christophe Préchac, Gilbert Ritschard and Daniel Royer.
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© 1993 SIPI Srl, Rivista di Politica Economica
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Balasko, Y. (1993). On the Economic Reforms in Eastern Europe: a Theoretical Viewpoint. In: Baldassarri, M., Mundell, R. (eds) Building a New Europe. Central Issues in Contemporary Economic Theory and Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22922-2_3
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