ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Eastern Europe From State Socialism to Post-Socialist Depression

Post-Socialist Depression Ramnath Narayanswamy The experience of systemic transformation in eastern Europe since 1989 presents several sobering conclusions and despite their provisional nature, they are worth noting: The role of the stale in managing the transition cannot be wished away. The use of ' shock therapy', while admissible in terms of achieving macro-economic stabilisation, can be disastrous if it is concaved in terms of structural transformation. And the element of speed has little to do with the success of the transition.

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