Promises and challenges. Internationalisation of the transition economies
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.