Abstract
The collapse of centrally administered socialism in Central and Eastern Europe and the former Soviet Union (CEEFSU) resulted in what was commonly referred to as the transition problem. This problem was how to transition from centrally administered socialist economic system to a market-based economic system. Economies that attempted to replace central administration in the form of direct planning with market institutions are commonly known as transitional economies (Gardner 1998, p. 9). Economic science responded to the problem by developing an appropriate body of economic analysis, advice, and direction to the transition process.
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© 2013 John Marangos
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Marangos, J. (2013). Introduction to the Transition Process. In: Consistency and Viability of Islamic Economic Systems and the Transition Process. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137327260_4
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DOI: https://doi.org/10.1057/9781137327260_4
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