The Big Bang in European Transition to Market Economies Following the Fall of the Soviet Union

Abstract

After the fall of the Soviet Union, Central and Eastern Europe were faced with massive reforms and restructuring of the political and economic systems. In terms of economic transition, countries either chose shock therapy, gradualism or a combination of both. These methods of transition deal primarily with the time frame in which reforms are made. In particular this paper looks at the method of shock therapy and the motives countries had in using it in reforming their economies. Within transitional economies, banking sectors are the most important and most difficult to reform. To illustrate the methods of transition this paper uses Germany, Poland, Russia, and Hungary as case studies. This paper also examines the experience of these countries to determine the factors that influence a country to employ shock therapy as well as the consequences of that decision.

Date of Completion

5-12-2006

Degree Type

Thesis

Format

PDF

URI

http://soundideas.pugetsound.edu/economics_theses/18

Language

English

Department

Economics

Share

COinS