Transition economy in the context of "Market economy"

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⭐ Core Definition: Transition economy

A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy. Transition economies undergo a set of structural transformations intended to develop market-based institutions. These include economic liberalization, where prices are set by market forces rather than by a central planning organization. In addition to this, trade barriers are removed, there is a push to privatize state-owned enterprises and resources, state and collectively run enterprises are restructured as businesses, and a financial sector is created to facilitate macroeconomic stabilization and the movement of private capital. The process has been applied in China, the former Soviet Union and Eastern bloc countries of Europe and some Third world countries, and detailed work has been undertaken on its economic and social effects.

The transition process is usually characterized by the changing and creating of institutions, particularly private enterprises; changes in the role of the state, thereby, the creation of fundamentally different governmental institutions and the promotion of private-owned enterprises, markets and independent financial institutions. In essence, one transition mode is the functional restructuring of state institutions from being a provider of growth to an enabler, with the private sector its engine. Another transition mode is change the way that economy grows and practice mode. The relationships between these two transition modes are micro and macro, partial and whole. The truly transition economics should include both the micro transition and macro transition. Due to the different initial conditions during the emerging process of the transition from planned economics to market economics, countries uses different transition model. Countries like the People's Republic of China and Vietnam adopted a gradual transition mode, however Russia and some other East-European countries, such as the former Socialist Republic of Yugoslavia, used a more aggressive and quicker paced model of transition.

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Transition economy in the context of Romania

Romania is a country located at the crossroads of Central, Eastern and Southeast Europe. It borders Ukraine to the north and east, Hungary to the west, Serbia to the southwest, Bulgaria to the south, Moldova to the east, and the Black Sea to the southeast. It has a mainly continental climate, and an area of 238,397 km (92,046 sq mi) with a population of 19 million people. Romania is the twelfth-largest country in Europe and the sixth-most populous member state of the European Union. Europe's second-longest river, the Danube, empties into the Danube Delta in the southeast of the country. The Carpathian Mountains cross Romania from the north to the southwest and include Moldoveanu Peak, at an altitude of 2,544 m (8,346 ft). Bucharest is the country's capital, largest urban area, and financial centre. Other major urban areas include Cluj-Napoca, Timișoara, Iași, Constanța and Brașov.

Settlement in the territory of modern Romania began in the Lower Paleolithic, later becoming the Dacian Kingdom before Roman conquest and Romanisation. The modern Romanian state was formed in 1859 with the unification of Moldavia and Wallachia under Alexandru Ioan Cuza, becoming the Kingdom of Romania in 1881 under Carol I of Romania. Romania gained independence from the Ottoman Empire in 1877, formalised by the Treaty of Berlin. After World War I, Transylvania, Banat, Bukovina, and Bessarabia joined the Old Kingdom, forming Greater Romania, which reached its largest territorial extent. In 1940, under Axis pressure, Romania lost territories to Hungary, Bulgaria, and the Soviet Union. Following the 1944 Romanian coup d'état, Romania switched sides to join the Allies. After World War II, it regained Northern Transylvania through the Paris Peace Treaties. Under Soviet occupation, King Michael I was forced to abdicate, and Romania became a socialist republic and Warsaw Pact member. After the uniquely violent Romanian revolution in December 1989, Romania began a transition to liberal democracy and a market economy.

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Transition economy in the context of Injection (medicine)

An injection (often and usually referred to as a "shot" in US English, a "jab" in UK English, or a "jag" in Scottish English and Scots) is the act of administering a liquid, especially a drug, into a person's body using a needle (usually a hypodermic needle) and a syringe. An injection is considered a form of parenteral drug administration; it does not involve absorption in the digestive tract. This allows the medication to be absorbed more rapidly and avoid the first pass effect. There are many types of injection, which are generally named after the body tissue the injection is administered into. This includes common injections such as subcutaneous, intramuscular, and intravenous injections, as well as less common injections such as epidural, intraperitoneal, intraosseous, intracardiac, intraarticular, and intracavernous injections.

Injections are among the most common health care procedures, with at least 16 billion administered in developing and transitional countries each year. Of these, 95% are used in curative care or as treatment for a condition, 3% are to provide immunizations/vaccinations, and the rest are used for other purposes, including blood transfusions. The term injection is sometimes used synonymously with inoculation, but injection does not only refer to the act of inoculation. Injections generally administer a medication as a bolus (or one-time) dose, but can also be used for continuous drug administration. After injection, a medication may be designed to be released slowly, called a depot injection, which can produce long-lasting effects.

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Transition economy in the context of Post-communist

Post-communism is the period of political and economic transformation or transition in post-Soviet states and other formerly communist states located in Central-Eastern Europe and parts of Latin America, Africa, and Asia, in which new governments aimed to create free market-oriented capitalist economies. In 1989–1992, communist party governance collapsed in most communist party-governed states. After severe hardships communist parties retained control in China, Cuba, Laos, North Korea, and Vietnam. SFR Yugoslavia began to disintegrate, which plunged the country into a long complex series of wars between ethnic groups and nation-states. Soviet-oriented communist movements collapsed in countries where they were not in control.

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Transition economy in the context of World Development Report

The World Development Report (WDR) is an annual report published since 1978 by the World Bank. Each WDR provides in-depth analysis of a specific aspect of economic development. Past reports have considered such topics as agriculture, youth, equity, public services delivery, the role of the state, transition economies, labour, infrastructure, health, the environment, risk management, and poverty. The reports are the Bank's best-known contribution to thinking about development.

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