The Elements of Economic Reform: Eastern Europe
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At the end of World War II, the Soviet Union’s Red Army occupied the countries of Eastern and Central Europe (henceforth referred to as Eastern Europe). Stalinist regimes, both political and economic, were established in Albania, Bulgaria, Hungary, Poland and Romania, as well as in East Germany. In 1948 Czechoslovakia came under full Communist control but in the same year Yugoslavia, under Josip Broz Tito, broke with the Soviet Union and followed its own socialist road; in later years this included ‘self-management’ of enterprises and much less central planning than elsewhere in the region.
KeywordsMarket Economy Economic Reform Eastern European Country Soft Budget Constraint Command Economy
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