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With the start of the process of its transition to a market economy in early 1990, Romania joined the ranks of other reforming Eastern European countries. At the starting point of its reform program, however, Romania was in a deep economic and institutional crisis and had no experience in even...
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This paper outlines the main characteristics and the development of the centrally planned economic sysetm in Romania before the beginnings of the transition to a market eonomy it then presents the design, objectives, and implementation of the reform program
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This paper analyzes the declines in economic activity experienced by Bulgaria, the Czech and Slovak Federal Republic (CSFR), and Romania in the period since the initiation of market-oriented reforms in these countries. The paper reviews developments in the three countries and empirically...
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