The Economics of Post-Communist Transition
Olivier Blanchard
Abstract
Transition in Central and Eastern Europe has led to a U‐shaped response of output, that is, a sharp decline in output followed by recovery. Six years after the beginning of transition, most of the countries of Central Europe now seem firmly on the upside. Most of the countries of Eastern Europe are still close to the bottom of the U; an optimistic view is that they are now negotiating the turn.
Keywords: Central Europe, decline, distortion, Eastern Europe, economic system, output, post‐communist countries, recovery, transition, U‐shaped curve
Bibliographic Information
| Print publication date: 1998 | Print ISBN-13: 9780198293996 |
| Published to Oxford Scholarship Online: November 2003 | DOI:10.1093/0198293992.001.0001 |
