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Financial Fragility in the Transition to Market Economies

In: The Transformation of the Communist Economies

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  • Laurence Harris

Abstract

The end of the Cold War is defined by the remarkable events of 1989, but in the economic sphere the confrontation between ‘socialism’ and ‘capitalism’ had crumbled more gradually over the previous decade.’ By the start of this decade, the leaders of almost every country whose development was built on central planning had set a radically new course, to be built on capitalist principles, and several had already gone a long way down that path over the previous years.

Suggested Citation

  • Laurence Harris, 1995. "Financial Fragility in the Transition to Market Economies," Palgrave Macmillan Books, in: Ha-Joon Chang & Peter Nolan (ed.), The Transformation of the Communist Economies, chapter 7, pages 177-202, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23916-0_7
    DOI: 10.1007/978-1-349-23916-0_7
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