Economic transformation
Economic transformation
Collapse and recovery
This chapter focuses on the macro level economic environment within which the enterprise operates. It is divided into six sections. Following a brief introduction, the second section outlines the socialist economic situation at the end of the 1980s, a period of decline following the ‘era of stagnation’ under Brezhnev. The third section summarizes trends in the macroeconomy after 1989, covering GDP, inflation, state budgets, international trade flows, and balance of payments. The fourth section discusses labour market trends — employment, unemployment, earnings, and labour productivity. The fifth section discusses the development of macroeconomic policies in the region after 1989. The concluding sixth section provides a brief summary.
Keywords: macroeconomy, enterprise, Brezhnev, labour market, macroeconomic policy, socialist economic crisis
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