Economic Transition in Hungary and East Germany Gradualism and Shock
What 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
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STUDIES IN ECONOMIC TRANSITION General Editors: Jens Hölscher, Commerzbank Professor for Money and Finance, University of Chemnitz, and Honorary Professor, Institute for German Studies, University of Birmingham; and Horst Tomann, Professor of Economics, Free University Berlin This new series has been established in response to a growing demand for a greater understanding of the transformation of economic systems. It brings together theoretical and empirical studies on economic transition and economic development. The post-communist transition from planned to market economies is one of the main areas of applied theory because in this field the most dramatic examples of change and economic dynamics can be found. The series aims to contribute to the understanding of specific major economic changes as well as to advance the theory of economic development. The implications of economic policy will be a major point of focus. Titles include: Irwin Collier, Herwig Roggemann, Oliver Scholz and Horst Tomann (editors) WELFARE STATES IN TRANSITION: East and West Hubert Gabrisch and Rüdiger Pohl (editors) EU ENLARGEMENT AND ITS MACROECONOMIC EFFECTS IN EASTERN EUROPE: Currencies, Prices, Investment and Competitiveness Jens Hölscher and Anja Hochberg (editors) EAST GERMANY’S ECONOMIC DEVELOPMENT SINCE UNIFICATION Domestic and Global Aspects Emil Kirchner (editor) DECENTRALIZATION AND TRANSITION IN THE VISEGRAD Poland, Hungary, the Czech Republic and Slovakia Johannes Stephan ECONOMIC TRANSITION IN HUNGARY AND EAST GERMANY Gradualism and Shock Therapy in Catch-up Development Studies in Economic Transition Series Standing Order ISBN 0–333–73353–3 (outside North America only) You can receive future titles in this series as they are published by placing a standing order. Please contact your bookseller or, in case of difficulty, write to us at the address below with your name and address, the title of the series and the ISBN quoted above. Customer Services Department, Macmillan Distribution Ltd Houndmills, Basingstoke, Hampshire RG21 6XS, England
Economic Transition in Hungary and East Germany Gradualism and Shock Therapy in Catch-up Development Johannes Stephan
First published in Great Britain 1999 by
MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 6XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library. ISBN 978-1-349-41260-0 ISBN 978-0-230-59658-0 (eBook) DOI 10.1057/9780230596580 First published in the United States of America 1999 by ST. MARTIN’S PRESS, INC., Scholarly and Reference Division, 175 Fifth Avenue, New York, N.Y. 10010
ISBN 978-0-312-21991-8 Library of Congress Cataloging-in-Publication Data Stephan, Johannes. Economic transition in Hungary and East Germany : gradualism and shock therapy in catch-up development / Johannes Stephan. p. cm. — (Studies in economic transition) Includes bibliographical references and index. ISBN 978-0-312-21991-8 (cloth) 1. Hungary—Economic policy—1989– 2. Hungary—Economic conditions—1989– 3.
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