Abstract
The history of the CESEE has been stormy over time. Its strategic geographical location and the policy of conquest by neighbouring countries, such as Austria, Prussia, Russia, and Turkey, have significantly impacted the development of societies and economies of CESEE. After World War II, the CESEE countries found themselves behind the Iron Curtain and were under total influence of the Soviet Union. The situation changed in the late 1980s when communism started to collapse in the Eastern Bloc. From then on, the CESEE countries have begun to move from centrally planned towards market economies. This is the reason why they have been referred to as transition economies. In this chapter, we present a brief history of this region, with special attention paid to the period of transition.
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Notes
- 1.
Starting in 1990; based on IMF data from World Economic Outlook. Due to the lack of historical data for some Balkan states and former Soviet Union republics, we are not able to present a complete picture.
- 2.
Vouchers were distributed under mass privatization programmes to citizens free of charge.
- 3.
Advanced economies are represented in our study by EU “old” Member States, Norway, Switzerland, USA, and Japan.
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Iwanicz-Drozdowska, M. (2018). CESEE Countries: Historical Background, Transition, and Development. In: Foreign-Owned Banks. Studies in Economic Transition. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-01111-6_2
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