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1994 | OriginalPaper | Buchkapitel

Foreign Direct Investment and Privatization

verfasst von : Paul J. J. Welfens

Erschienen in: The Economics of Transformation

Verlag: Springer Berlin Heidelberg

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After decades of socialism, in which huge state-owned firms produced in accordance with central planning, the countries of central and eastern Europe aim to reestablish a market economy. Systemic transition creates a host of supply-side problems since a long history of central planning and near-autarchy within the Council for Mutual Economic Assistance (CMEA) have to be overcome. The countries of the ex-CMEA area have to open up towards the world economy (which renders a considerable part of the capital stock obsolete), microeconomic adjustments at the level of individual firms have to be achieved, whole industries have to be restructured and the long-neglected service sector has to be expanded.

Metadaten
Titel
Foreign Direct Investment and Privatization
verfasst von
Paul J. J. Welfens
Copyright-Jahr
1994
Verlag
Springer Berlin Heidelberg
DOI
https://doi.org/10.1007/978-3-642-78615-0_6