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The Rise and Fall of Marxist Theory and Socialism
Distortions of Socialist Economies
Dramatic Changes in Eastern Europe
13 other sections not shown
adjustment allocation assets Bulgaria capital stock Centrally Planned CMEA countries command economy competition consumer CSFR currency demand devaluation developing countries distortions domestic dynamic East European countries East European economies Eastern Europe Eastern European economic growth effects exchange rate exports external financing firms foreign direct investment foreign exchange foreign investors former CMEA free trade functional Germany hence higher Hungary implies important increase industry inflation rate inflows innovation institutions labor long term macroeconomic marginal product market economy medium term military monetary monopoly Moreover Newly Industrializing Countries nontradables OECD OECD countries official economy output percent Poland political positive privatization problem profits ratio real interest rate reduce reforms regional relative price rising role Romania shadow economy share socialist economies socialist system Soviet switch systemic transformation tariff tradables sector transition USSR wage Washington D.C. WELFENS West Germany Western world market prices