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Transition and International Financial Institutions

In: The International Monetary and Financial System

Author

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  • Dragoslav Avramovic

Abstract

This paper assesses the course of economic events in Eastern Europe, including the former Soviet Union, since the upheaval of 1989. It reviews. the reasons for their economic crisis and their social effects, and discusses the views on ‘transition economics’ held by some influential economists and international institutions. It singles out the key problems facing these countries — unemployment, inflation and systemic uncertainty — and suggests that on present trends and policies most of these countries do not have a chance of satisfying the demands of their population for decent living standards, social security, economic stability and full employment in the near future.

Suggested Citation

  • Dragoslav Avramovic, 1996. "Transition and International Financial Institutions," Palgrave Macmillan Books, in: G. K. Helleiner (ed.), The International Monetary and Financial System, chapter 9, pages 229-241, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24414-0_9
    DOI: 10.1007/978-1-349-24414-0_9
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