Introduction

Abstract

The transition from a centrally planned to an open market economy affects not only all aspects of the political and economic systems of the Central Eastern European Countries (CEECs), but has to be carried out moreover under highly unfavourable economic conditions. Since the early 1990s, governments in CEECs have achieved considerable successes in terms of political and macroeconomic stabilisation. Experiences have proved that there is no single strategy appropriate to handling the complexity and uncertainty of transition.