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Economic Transition in Hungary and East Germany: Gradualism, Shock Therapy and Catch-Up Development
Deflating assumptions about either shock therapy or gradualism being the best prescription for post-socialist economic development, Stephan (Institute for Economic Research, Halle) contrasts the immediate integration that East Germany overdosed on in the early 1990s with Hungary's gradual transition begun in the 1960s prior to the collapse of its communist regime. He then revisits Hungary to witness the results of its economic restructuring in this decade. Based on his analysis of the adverse side effects of both of these models, the author offers recommendations driven by the priority of monetary stability. Includes a substantial bibliography. Annotation c. Book News, Inc., Portland, OR (booknews.com)
312 pages, ebook
First published January 1, 1999
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