Pace of Disinflation and the Development of Budget Crisis in Post-Socialist Economies

Publication date
Monday, 19.04.1999

Yegor Gaidar

Zagreb Journal of Economics, 4 (1999)

During recent years, almost three dozen countries with different levels of development, different size and structure of the economy, and different national customs have faced problems caused by the crisis of late socialism and the hardships of post-socialist transition. During this time the countries experienced numerous changes of governments - from ultraliberal to consistently communist -and tried various options of economic policy, with related consequences. With all the differences of national paths of transition towards a market economy, a profound analysis of the accumulated experience allows the identification of some general trends emerging from the specifics of individual countries. Nowadays, it is impossible to discuss economic and political problems of any post-socialist country without mention of those trends.



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