Titlebook: Economic Transition in Hungary and East Germany; Gradualism, Shock Th Johannes Stephan Book 1999 Palgrave Macmillan, a division of Macmilla

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https://doi.org/10.1057/9781403981165in particular the rates of conversion between the DM and GDR-mark. As of 1 July 1990, the legal tender of the GDR (the GDR-mark) ceased to exist and was substituted by the West German currency, the DM.

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https://doi.org/10.1007/978-3-662-65034-9aradigmatic cases of a shock therapy in East Germany and a gradual management of systemic change in Hungary, a theory-guided analysis draws relevant experiences for a general theory of systemic transformation and catch-up development (e.g., Riese 1993b; Csaba 1995). The study distinctively differs f

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https://doi.org/10.1007/3-211-37846-4nd West Germany. Whilst this granted the economic region of East Germany full membership in the European Single Market with its several regional and structural development funds as well as the Common Agricultural Policy, it also exposed all productive entities in the joining region to unprotected co

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cial management and intermediation under a hard budget constraint, subsequent reforms were aimed at gradually exposing the Hungarian economy to (international) competition via integration: price and import liberalisation, as well as the reduction of all kinds of subsidies effected a gradual shift of

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https://doi.org/10.1057/9781137506429es on economic growth (export-oriented development), the following section will outline the most important features of Hungary’s foreign trade during the CMEA era and describe in what direction it developed during the years of transformation. Regional co-operation in the form of a payments union (PU