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A transition economy or transitional economy is an economy which is undergoing structural changes, changing from one type of economic system to another type.
Transition economies usually refer to economies undergoing a transition from a centrally planned economy to a market economy. These type of economies undergo economic liberalization (introducing market forces for prices), economic restructuring, privatization of state enterprises, and the creation of a financial sector (which takes the role of the dismantled planning system).
A transition economy may also refer to a long term process of building socialism, in which a capitalist economy undergoes rapid development with the eventual goal of establishing a socialist economic system. Today countries such as Cuba and Vietnam are still officially undergoing transition from rural economies or mixed economies to socialism (in Vietnam the system is officially called "socialist-oriented market economy").
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What is the current economic system of Montenegro?
They are currently in transition from federally state ran economy to a market economy.
What are some examples of transition economy?
A transition economy is one that is changing from central planning to free markets. Some of these are Poland, Hungary, and Bulgaria.
What kind of economic system does Macedonia have?
Macedonia has a transition or transitional economy!
What describes the transition from one phase to another in the business cycle?
The transition from phase to phase is described in terms of the rate of growth of the economy.
What would you see in a economy in transition from central planning to free enterprise?
nutsack
A period of change in an economy is?
transition.
What is china said to have a transition economy?
THey are COmmunist
What type of economy was Romania?
Before 1989 Romania has a socialist, planned economy, state economy.
Why is Israel is a command economy country?
Israel was a command economy by the 80's, but after a transition that finished in 1998 it is now a market economy.
What is the current economic system of Montenegro?
They are currently in transition from federally state ran economy to a market economy.
What does the economy of China is is in transition mean?
The economy is moving from central planning toward a market-based system.
The economy of china is in transition .what does this mean?
The economy is moving from central planning toward a market-based system.
What are some examples of transition economy?
A transition economy is one that is changing from central planning to free markets. Some of these are Poland, Hungary, and Bulgaria.
What progress has Russia achieved in its transition to a market economy?
Green fruit#
What kind of economic system does Macedonia have?
Macedonia has a transition or transitional economy!
After the velvet revolution Czechoslovakia began a transition to a?
market-based economy
What describes the transition from one phase to another in the business cycle?
The transition from phase to phase is described in terms of the rate of growth of the economy.
