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Some Considerations on Ending the Process of Economic Transition in Romania and Slovakia

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  • Cezar SCARLAT
  • Silvia RUCINSKA
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    Abstract

    The collapse of the centrally planned economies in Eastern Europe has triggered complex economic reforms in all former communist countries, on their ways towards freemarket economic systems. Their economies have become real, real-scale, and real-time research laboratories. The multifaceted and difficult processes of economic transition were scientifically examined as far as transition trail, duration, transition strategy. Based on the matrix model of economic systems and economic transition, the paper is valuing the authors’ previous research work in the area. The main objective is to answer to the question: when the economic transition ends (when the economic reform is completed). The authors propose several ways to determine the moment when the economic transition ends, and the duration of the process respectively. Several standpoints (political, economical, managerial) are presented. The study was completed in Romania and Slovak Republic. The research results reveal similarities as well as differences; specific issues are discussed. Assessing the end of economic transition is of top importance in the circumstances of the current global crisis. When the economic recession and transition are overlapping, then the “pendulum effect” might appear and the economic reform ends before reaching its objectives. The models of analysis and research results are important for both academics and practitioners – strategists, policy makers, and managers – not only from Romania and Slovakia or other Eastern European countries but any transitional economy.

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    Bibliographic Info

    Article provided by European Research Studies Journal in its journal European Research Studies Journal.

    Volume (Year): XIII (2010)
    Issue (Month): 1 ()
    Pages: 169-188

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    Handle: RePEc:ers:journl:v:xiii:y:2010:i:1:p:169-188

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    Keywords: matrix model; economic transition; end of transition; duration of transition; Romania; Slovakia;

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    1. Manijeh Sabi, 1997. "Banking in transition: Development and current problems in Azerbaijan," Post-Communist Economies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 9(4), pages 491-499.
    2. Aristidis Bitzenis, 2007. "Political and economic alternatives for the Central and East European Region and China," Global Business and Economics Review, Inderscience Enterprises Ltd, Inderscience Enterprises Ltd, vol. 9(1), pages 101-122.
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    4. Demetrios Giannaros, 2000. "Did the "shock therapy" approach work in the economic restructuring of Eastern Europe? Some evidence from Poland and Russia: a brief review," Global Business and Economics Review, Inderscience Enterprises Ltd, Inderscience Enterprises Ltd, vol. 2(1), pages 53-66.
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    7. Wendy K. T. Gubler & Matthew W. McCarter & Kristie K. W. Seawright & Yuli Zhang, 2008. "Service Recovery in Transition Economies: Russia and China," Managing Global Transitions, University of Primorska, Faculty of Management Koper, University of Primorska, Faculty of Management Koper, vol. 6(1), pages 23-51.
    8. Jens Holscher, 1997. "Economic dynamism in transition economies: Lessons from Germany," Post-Communist Economies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 9(2), pages 173-181.
    9. Christian VonHirschhausen, 1998. "Industrial restructuring in Ukraine seven years after independence: From socialism to a planning economy?," Post-Communist Economies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 10(4), pages 451-465.
    10. Rafis Abazov, 1997. "Formation of the non-state sector and privatisation in Kazakhstan and Uzbekistan," Post-Communist Economies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 9(4), pages 431-448.
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    12. John Marangos, 2005. "Alternative models of transition and institutional development," Global Business and Economics Review, Inderscience Enterprises Ltd, Inderscience Enterprises Ltd, vol. 7(4), pages 390-408.
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