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  • © 1999

Economic Transition in Hungary and East Germany

Gradualism, Shock Therapy and Catch-Up Development

Palgrave Macmillan

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Part of the book series: Studies in Economic Transition (SET)

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Table of contents (9 chapters)

  1. Front Matter

    Pages i-xv
  2. Introduction

    1. Front Matter

      Pages 1-1
    2. Introduction

      • Johannes Stephan
      Pages 3-19
  3. Shock Therapy in the New Bundesländer

    1. Front Matter

      Pages 21-21
    2. German Monetary Union and Currency Reform

      • Johannes Stephan
      Pages 51-71
  4. Hungary’s Gradualism and Catch-up Development

    1. Front Matter

      Pages 97-97
    2. The Development of a Financial Sector in Hungary

      • Johannes Stephan
      Pages 105-149
    3. Hungarian Foreign Trade and Catch-up Development

      • Johannes Stephan
      Pages 177-222
  5. Conclusions

    1. Front Matter

      Pages 249-249
    2. Conclusions

      • Johannes Stephan
      Pages 251-256
  6. Back Matter

    Pages 257-293

About this book

What factors determine the success of economic transition, development and growth? Examining the contrast between East German shock-therapy and Hungary's gradualism, the book generates a set of generalisable conditions for economic development which imply some degree of state intervention and strategy. A stability-oriented incomes policy and a carefully managed integration strategy can enable sustainable export surpluses, a competitive currency and macroeconomic stability, whilst providing sufficient room for economic restructuring, structural transformation and technological catch-up. The dangers of premature integration are examined.

Reviews

'It is an important addition to the literature on this increasingly popular topic.' - Robert F. Miller, SEER

'This is a well-written, well-researched review of transformation processes in the former German Democratic Republic and Hungary...if an understanding of financial sector stablization, economic integration, and the role of foreign trade in transformation economies is sought, the book will prove rewarding.' - Philip J. Bryson, Slavic Review

About the author

DR. JOHANNES STEPHAN is Research Fellow at the Institute for Economic Research Halle. Following his graduation from the Freie Universität Berlin in 1994, he undertook a doctoral research project on the economics of systemic transformation and economic development in post-socialist economies which he finalised in 1997 at the Institute for German Studies, University of Birmingham.

Bibliographic Information

Buy it now

Buying options

eBook USD 84.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access