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Transition economy, the Glossary

A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy.^[1]

102 relations: Access to finance, Acquis communautaire, Africa, Albania, Armenia, Belarus, Bosnia and Herzegovina, Bosnian War, Botswana, Bulgaria, Cambodia, Capital (economics), Cato Institute, Central and Eastern Europe, Central Asia, China, Comecon, Commonwealth of Independent States, Corporatization, Council of Europe, Creative destruction, Croatia, Czech Republic, Demographic transition, East Germany, Eastern Bloc, Economic liberalization, Economist Intelligence Unit, Economy of Asia, Energy transition, Estonia, Europe, European Bank for Reconstruction and Development, European Union, European Union Association Agreement, Export-oriented industrialization, Financial services, Foreign direct investment, Freedom House, Gérard Roland (economist), Georgia (country), Gini coefficient, Great Depression, Human capital, Hungary, International Monetary Fund, Iran, Kazakhstan, Kyrgyzstan, Laos, ... Expand index (52 more) »
Economic liberalization
Former communist economies

Access to finance

Access to finance is the ability of individuals or enterprises to obtain financial services, including credit, deposit, payment, insurance, and other risk management services.

See Transition economy and Access to finance

The Community acquis or acquis communautaire, sometimes called the EU acquis and often shortened to acquis, is the accumulated legislation, legal acts and court decisions that constitute the body of European Union law that came into being since 1993.

See Transition economy and Acquis communautaire

Africa

Africa is the world's second-largest and second-most populous continent after Asia.

See Transition economy and Africa

Albania

Albania (Shqipëri or Shqipëria), officially the Republic of Albania (Republika e Shqipërisë), is a country in Southeast Europe.

See Transition economy and Albania

Armenia

Armenia, officially the Republic of Armenia, is a landlocked country in the Armenian Highlands of West Asia.

See Transition economy and Armenia

Belarus

Belarus, officially the Republic of Belarus, is a landlocked country in Eastern Europe.

See Transition economy and Belarus

Bosnia and Herzegovina

Bosnia and Herzegovina (Босна и Херцеговина), sometimes known as Bosnia-Herzegovina and informally as Bosnia, is a country in Southeast Europe, situated on the Balkan Peninsula.

See Transition economy and Bosnia and Herzegovina

Bosnian War

The Bosnian War (Rat u Bosni i Hercegovini / Рат у Босни и Херцеговини) was an international armed conflict that took place in Bosnia and Herzegovina between 1992 and 1995. The war is commonly seen as having started on 6 April 1992, following a number of earlier violent incidents.

See Transition economy and Bosnian War

Botswana

Botswana, officially the Republic of Botswana, is a landlocked country in Southern Africa.

See Transition economy and Botswana

Bulgaria

Bulgaria, officially the Republic of Bulgaria, is a country in Southeast Europe. Located west of the Black Sea and south of the Danube river, Bulgaria is bordered by Greece and Turkey to the south, Serbia and North Macedonia to the west, and Romania to the north. It covers a territory of and is the 16th largest country in Europe.

See Transition economy and Bulgaria

Cambodia

Cambodia, officially the Kingdom of Cambodia, is a country in Mainland Southeast Asia.

See Transition economy and Cambodia

Capital (economics)

In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services.

See Transition economy and Capital (economics)

Cato Institute

The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. It was founded in 1977 by Ed Crane, Murray Rothbard, and Charles Koch, chairman of the board and chief executive officer of Koch Industries.

See Transition economy and Cato Institute

Central and Eastern Europe

Central and Eastern Europe is a geopolitical term encompassing the countries in Northeast Europe (primarily the Baltics), Central Europe, Eastern Europe, and Southeast Europe (primarily the Balkans), usually meaning former communist states from the Eastern Bloc and Warsaw Pact in Europe, as well as from former Yugoslavia.

See Transition economy and Central and Eastern Europe

Central Asia

Central Asia is a subregion of Asia that stretches from the Caspian Sea in the southwest and Eastern Europe in the northwest to Western China and Mongolia in the east, and from Afghanistan and Iran in the south to Russia in the north.

See Transition economy and Central Asia

China

China, officially the People's Republic of China (PRC), is a country in East Asia.

See Transition economy and China

Comecon

The Council for Mutual Economic Assistance (English abbreviation COMECON, CMEA, CEMA, or CAME) was an economic organization from 1949 to 1991 under the leadership of the Soviet Union that comprised the countries of the Eastern Bloc along with a number of socialist states elsewhere in the world. Transition economy and Comecon are former communist economies.

See Transition economy and Comecon

Commonwealth of Independent States

The Commonwealth of Independent States (CIS) is a regional intergovernmental organization in Eurasia.

See Transition economy and Commonwealth of Independent States

Corporatization

Corporatization is the process of transforming and restructuring state assets, government agencies, public organizations, or municipal organizations into corporations.

See Transition economy and Corporatization

Council of Europe

The Council of Europe (CoE; Conseil de l'Europe, CdE) is an international organisation with the goal of upholding human rights, democracy and the rule of law in Europe.

See Transition economy and Council of Europe

Creative destruction

Creative destruction (German: schöpferische Zerstörung) is a concept in economics that describes a process in which new innovations replace and make obsolete older innovations.

See Transition economy and Creative destruction

Croatia

Croatia (Hrvatska), officially the Republic of Croatia (Republika Hrvatska), is a country located at the crossroads of Central and Southeast Europe.

See Transition economy and Croatia

Czech Republic

The Czech Republic, also known as Czechia, is a landlocked country in Central Europe.

See Transition economy and Czech Republic

Demographic transition

In demography, demographic transition is a phenomenon and theory which refers to the historical shift from high birth rates and high death rates in societies with minimal technology, education (especially of women) and economic development, to low birth rates and low death rates in societies with advanced technology, education and economic development, as well as the stages between these two scenarios. Transition economy and demographic transition are economic systems.

See Transition economy and Demographic transition

East Germany

East Germany (Ostdeutschland), officially known as the German Democratic Republic (GDR; Deutsche Demokratische Republik,, DDR), was a country in Central Europe from its formation on 7 October 1949 until its reunification with West Germany on 3 October 1990.

See Transition economy and East Germany

Eastern Bloc

The Eastern Bloc, also known as the Communist Bloc (Combloc), the Socialist Bloc, and the Soviet Bloc, was the unofficial coalition of communist states of Central and Eastern Europe, Asia, Africa, and Latin America that were aligned with the Soviet Union and existed during the Cold War (1947–1991).

See Transition economy and Eastern Bloc

Economic liberalization

Economic liberalization, or economic liberalisation, is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities.

See Transition economy and Economic liberalization

Economist Intelligence Unit

The Economist Intelligence Unit (EIU) is the research and analysis division of the Economist Group, providing forecasting and advisory services through research and analysis, such as monthly country reports, five-year country economic forecasts, country risk service reports, and industry reports.

See Transition economy and Economist Intelligence Unit

Economy of Asia

The economy of Asia comprises about 4.7 billion people (60% of the world population) living in 50 different nations.

See Transition economy and Economy of Asia

Energy transition

An energy transition (or energy system transformation) is a major structural change to energy supply and consumption in an energy system.

See Transition economy and Energy transition

Estonia

Estonia, officially the Republic of Estonia, is a country by the Baltic Sea in Northern Europe.

See Transition economy and Estonia

Europe

Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere.

See Transition economy and Europe

European Bank for Reconstruction and Development

The European Bank for Reconstruction and Development (EBRD; French: Banque européenne pour la reconstruction et le développement, BERD) is an international financial institution founded in 1991.

See Transition economy and European Bank for Reconstruction and Development

European Union

The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe.

See Transition economy and European Union

European Union Association Agreement

A European Union Association Agreement or simply Association Agreement (AA) is a treaty between the European Union (EU), its Member States and a non-EU country that creates a framework for co-operation between them.

See Transition economy and European Union Association Agreement

Export-oriented industrialization

Export-oriented industrialization (EOI), sometimes called export substitution industrialization (ESI), export-led industrialization (ELI), or export-led growth, is a trade and economic policy aiming to speed up the industrialization process of a country by exporting goods for which the nation has a comparative advantage.

See Transition economy and Export-oriented industrialization

Financial services

Financial services are economic services tied to finance provided by financial institutions.

See Transition economy and Financial services

Foreign direct investment

A foreign direct investment (FDI) refers to purchase of an asset in another country, such that it gives direct control to the purchaser over the asset (e.g. purchase of land and building).

See Transition economy and Foreign direct investment

Freedom House

Freedom House is a non-profit organization based in Washington, D.C. It is best known for political advocacy surrounding issues of democracy, political freedom, and human rights.

See Transition economy and Freedom House

Gérard Roland (economist)

Gérard Roland (born 1954) is a Belgian economist, and a professor of economics and political science at the University of California, Berkeley since 2001.

See Transition economy and Gérard Roland (economist)

Georgia (country)

Georgia is a transcontinental country in Eastern Europe and West Asia.

See Transition economy and Georgia (country)

Gini coefficient

In economics, the Gini coefficient, also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality within a nation or a social group.

See Transition economy and Gini coefficient

Great Depression

The Great Depression (19291939) was a severe global economic downturn that affected many countries across the world.

See Transition economy and Great Depression

Human capital

Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process.

See Transition economy and Human capital

Hungary

Hungary is a landlocked country in Central Europe.

See Transition economy and Hungary

International Monetary Fund

The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 190 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.

See Transition economy and International Monetary Fund

Iran

Iran, officially the Islamic Republic of Iran (IRI), also known as Persia, is a country in West Asia. It borders Turkey to the northwest and Iraq to the west, Azerbaijan, Armenia, the Caspian Sea, and Turkmenistan to the north, Afghanistan to the east, Pakistan to the southeast, the Gulf of Oman and the Persian Gulf to the south.

See Transition economy and Iran

Kazakhstan

Kazakhstan, officially the Republic of Kazakhstan, is a landlocked country mostly in Central Asia, with a part in Eastern Europe.

See Transition economy and Kazakhstan

Kyrgyzstan

Kyrgyzstan, officially the Kyrgyz Republic, is a landlocked country in Central Asia, lying in the Tian Shan and Pamir mountain ranges.

See Transition economy and Kyrgyzstan

Laos

Laos, officially the Lao People's Democratic Republic (LPDR), is the only landlocked country and one of the two Marxist-Leninist states in Southeast Asia.

See Transition economy and Laos

Latin Americans

Latin Americans (Latinoamericanos; Latino-americanos) are the citizens of Latin American countries (or people with cultural, ancestral or national origins in Latin America).

See Transition economy and Latin Americans

Latvia

Latvia (Latvija), officially the Republic of Latvia, is a country in the Baltic region of Northern Europe.

See Transition economy and Latvia

Liberty Fund

Liberty Fund, Inc. is a nonprofit foundation headquartered in Carmel, Indiana, which promotes the libertarian views of its founder, Pierre F. Goodrich through publishing, conferences, and educational resources.

See Transition economy and Liberty Fund

Lithuania

Lithuania (Lietuva), officially the Republic of Lithuania (Lietuvos Respublika), is a country in the Baltic region of Europe.

See Transition economy and Lithuania

Market economy

A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand. Transition economy and market economy are economic systems.

See Transition economy and Market economy

Marketization

Marketisation or marketization is a restructuring process that enables state enterprises to operate as market-oriented firms by changing the legal environment in which they operate. Transition economy and marketization are economic liberalization.

See Transition economy and Marketization

Michael Kaser

Michael Kaser (2 May 1926 – 15 November 2021) was a British economist who specialised on Central and Eastern Europe and the USSR and its successor states.

See Transition economy and Michael Kaser

Mixed economy

A mixed economy is an economic system that accepts both private businesses and nationalized government services, like public utilities, safety, military, welfare, and education. Transition economy and mixed economy are economic systems.

See Transition economy and Mixed economy

Moldova

Moldova, officially the Republic of Moldova (Republica Moldova), is a landlocked country in Eastern Europe, on the northeastern corner of the Balkans.

See Transition economy and Moldova

Monetary overhang

Monetary overhang is a phenomenon in which people have more money holdings than they would normally choose to because of a lack of ability to spend it.

See Transition economy and Monetary overhang

Mongolia

Mongolia is a landlocked country in East Asia, bordered by Russia to the north and China to the south.

See Transition economy and Mongolia

Montenegro

Montenegro is a country in Southeastern Europe, situated on the Balkan Peninsula.

See Transition economy and Montenegro

New states of Germany

The new states of Germany (die neuen Länder / die neuen Bundesländer) are the five re-established states of the former German Democratic Republic (GDR) that unified with the Federal Republic of Germany (FRG) with its 10 "old states" upon German reunification on 3 October 1990.

See Transition economy and New states of Germany

Non-bank financial institution

A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that is not legally a bank; it does not have a full banking license or is not supervised by a national or international banking regulatory agency.

See Transition economy and Non-bank financial institution

North Macedonia

North Macedonia, officially the Republic of North Macedonia, is a landlocked country in Southeast Europe.

See Transition economy and North Macedonia

OECD

The Organisation for Economic Co-operation and Development (OECD; Organisation de coopération et de développement économiques, OCDE) is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade.

See Transition economy and OECD

OmniScriptum

Omniscriptum Publishing Group, formerly known as VDM Verlag Dr.

See Transition economy and OmniScriptum

Phare

The Phare programme is one of the three pre-accession instruments financed by the European Union to assist the applicant countries of Central and Eastern Europe in their preparations for joining the European Union.

See Transition economy and Phare

Planned economy

A planned economy is a type of economic system where the distribution of goods and services or the investment, production and the allocation of capital goods takes place according to economic plans that are either economy-wide or limited to a category of goods and services. Transition economy and planned economy are economic systems and former communist economies.

See Transition economy and Planned economy

Poland

Poland, officially the Republic of Poland, is a country in Central Europe.

See Transition economy and Poland

Polity data series

The Polity data series is a data series in political science research.

See Transition economy and Polity data series

Private sector

The private sector is the part of the economy which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government.

See Transition economy and Private sector

Privately held company

A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets.

See Transition economy and Privately held company

Privatization

Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. Transition economy and Privatization are economic liberalization.

See Transition economy and Privatization

Real socialism, better known as actually existing socialism was an ideological catchphrase popularized during the Brezhnev era in the Eastern Bloc countries and the Soviet Union.

See Transition economy and Real socialism

Right to property

The right to property, or the right to own property (cf. ownership), is often classified as a human right for natural persons regarding their possessions.

See Transition economy and Right to property

Romania

Romania is a country located at the crossroads of Central, Eastern, and Southeast Europe.

See Transition economy and Romania

Routledge

Routledge is a British multinational publisher.

See Transition economy and Routledge

Russia

Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia.

See Transition economy and Russia

Serbia

Serbia, officially the Republic of Serbia, is a landlocked country at the crossroads of Southeast and Central Europe, located in the Balkans and the Pannonian Plain.

See Transition economy and Serbia

Serbia and Montenegro

The State Union of Serbia and Montenegro (Državna zajednica Srbija i Crna Gora) or simply Serbia and Montenegro (Srbija i Crna Gora), known until 2003 as the Federal Republic of Yugoslavia (Savezna Republika Jugoslavija), FR Yugoslavia (FRY) or simply Yugoslavia (Jugoslavija), was a country in Southeast Europe located in the Balkans that existed from 1992 to 2006, following the breakup of the Socialist Federal Republic of Yugoslavia (SFR Yugoslavia).

See Transition economy and Serbia and Montenegro

Shock therapy (economics)

In economics, shock therapy is a group of policies intended to be implemented simultaneously in order to liberalize the economy, including liberalization of all prices, privatization, trade liberalization, and stabilization via tight monetary policies and fiscal policies. Transition economy and shock therapy (economics) are economic liberalization.

See Transition economy and Shock therapy (economics)

Slovakia

Slovakia (Slovensko), officially the Slovak Republic (Slovenská republika), is a landlocked country in Central Europe.

See Transition economy and Slovakia

Slovenia

Slovenia (Slovenija), officially the Republic of Slovenia (Slovene), is a country in southern Central Europe.

See Transition economy and Slovenia

The social safety net (SSN) consists of non-contributory assistance existing to improve lives of vulnerable families and individuals experiencing poverty and destitution.

See Transition economy and Social safety net

Soviet Union

The Union of Soviet Socialist Republics (USSR), commonly known as the Soviet Union, was a transcontinental country that spanned much of Eurasia from 1922 to 1991.

See Transition economy and Soviet Union

Soviet-type economic planning

Soviet-type economic planning (STP) is the specific model of centralized planning employed by Marxist–Leninist socialist states modeled on the economy of the Soviet Union (USSR).

See Transition economy and Soviet-type economic planning

Tajikistan

Tajikistan, officially the Republic of Tajikistan, is a landlocked country in Central Asia.

See Transition economy and Tajikistan

Technical Assistance to the Commonwealth of Independent States

TACIS is an abbreviation of "Technical Assistance to the Commonwealth of Independent States" programme, a foreign and technical assistance programme implemented by the European Commission to help members of the Commonwealth of Independent States (as well as Mongolia), in their transition to democratic market-oriented economies.

See Transition economy and Technical Assistance to the Commonwealth of Independent States

Third World

The term "Third World" arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact.

See Transition economy and Third World

Treuhandanstalt

The Treuhandanstalt ("Trust agency"), colloquially referred to as Treuhand, was an agency established by the government of the German Democratic Republic to reprivatise/privatise East German enterprises, Volkseigene Betriebe (VEBs), prior to German reunification.

See Transition economy and Treuhandanstalt

Turkmenistan

Turkmenistan is a country in Central Asia bordered by Kazakhstan to the northwest, Uzbekistan to the north, east and northeast, Afghanistan to the southeast, Iran to the south and southwest and the Caspian Sea to the west.

See Transition economy and Turkmenistan

Ukraine

Ukraine is a country in Eastern Europe.

See Transition economy and Ukraine

United Nations Department of Economic and Social Affairs

The United Nations Department of Economic and Social Affairs (UN DESA) is part of the United Nations Secretariat and is responsible for the follow-up to major United Nations Summits and Conferences, as well as services to the United Nations Economic and Social Council and the Second and Third Committees of the United Nations General Assembly.

See Transition economy and United Nations Department of Economic and Social Affairs

United Nations Economic Commission for Europe

The United Nations Economic Commission for Europe (ECE or UNECE) is one of the five regional commissions under the jurisdiction of the United Nations Economic and Social Council.

See Transition economy and United Nations Economic Commission for Europe

University of Michigan

The University of Michigan (U-M, UMich, or simply Michigan) is a public research university in Ann Arbor, Michigan.

See Transition economy and University of Michigan

Uzbekistan

Uzbekistan, officially the Republic of Uzbekistan, is a doubly landlocked country located in Central Asia.

See Transition economy and Uzbekistan

Vietnam

Vietnam, officially the (SRV), is a country at the eastern edge of mainland Southeast Asia, with an area of about and a population of over 100 million, making it the world's fifteenth-most populous country.

See Transition economy and Vietnam

Warsaw Pact

The Warsaw Pact (WP), formally the Treaty of Friendship, Cooperation and Mutual Assistance (TFCMA), was a collective defense treaty signed in Warsaw, Poland, between the Soviet Union and seven other Eastern Bloc socialist republics of Central and Eastern Europe in May 1955, during the Cold War.

See Transition economy and Warsaw Pact

Washington Consensus

The Washington Consensus is a set of ten economic policy prescriptions considered to constitute the "standard" reform package promoted for crisis-wracked developing countries by Washington, D.C.-based institutions such as the International Monetary Fund (IMF), World Bank and United States Department of the Treasury.

See Transition economy and Washington Consensus

World Bank

The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.

See Transition economy and World Bank

Yugoslavia

Yugoslavia (Југославија; Jugoslavija; Југославија) was a country in Southeast and Central Europe that existed from 1918 to 1992.

See Transition economy and Yugoslavia

References

[1] https://en.wikipedia.org/wiki/Transition_economy

Also known as Country in transition, Economic transition, Economics of transition, Economies in transition, Transformation economy, Transition Economics, Transition countries, Transition country, Transition economies, Transition from socialism to free-market capitalism, Transitional economies, Transitional economy.

, Latin Americans, Latvia, Liberty Fund, Lithuania, Market economy, Marketization, Michael Kaser, Mixed economy, Moldova, Monetary overhang, Mongolia, Montenegro, New states of Germany, Non-bank financial institution, North Macedonia, OECD, OmniScriptum, Phare, Planned economy, Poland, Polity data series, Private sector, Privately held company, Privatization, Real socialism, Right to property, Romania, Routledge, Russia, Serbia, Serbia and Montenegro, Shock therapy (economics), Slovakia, Slovenia, Social safety net, Soviet Union, Soviet-type economic planning, Tajikistan, Technical Assistance to the Commonwealth of Independent States, Third World, Treuhandanstalt, Turkmenistan, Ukraine, United Nations Department of Economic and Social Affairs, United Nations Economic Commission for Europe, University of Michigan, Uzbekistan, Vietnam, Warsaw Pact, Washington Consensus, World Bank, Yugoslavia.

Transition economy, the Glossary

Table of Contents

See also

Economic liberalization

Former communist economies

References