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Promises and challenges. Internationalisation of the transition economies

Since 1989 internationalisation has profoundly influenced the former communist countries, primarily economically but also politically. The unfinished transition process has put into perspective the vast differences between the countries that emerged from the deep shadow of the Soviet Union and the enormous difficulties they had in constructing functioning political and economic structures. Three decades on, the future of the entire region is inexorably linked to the West and the ideas of open markets.

Internationalisation has been one of the critical dimensions of the economic transformation undergone by the former command economies in Eastern Europe and the former Soviet Union since 1989. Openness and global interactions have had profound direct effects on their growth and development, and entry into international institutions has significantly shaped both domestic policies and institutions. During the past three decades of transition, all former socialist economies have moved decisively towards market-oriented ones.
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August 26, 2019 - Kiril Kossev - AnalysisIssue 5 2019Magazine

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