Download or read book Economic Transition in Hungary and East Germany written by J. Stephan and published by Springer. This book was released on 1999-02-08 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: What factors determine the success of economic transition, development and growth? Examining the contrast between East German shock-therapy and Hungary's gradualism, the book generates a set of generalisable conditions for economic development which imply some degree of state intervention and strategy. A stability-oriented incomes policy and a carefully managed integration strategy can enable sustainable export surpluses, a competitive currency and macroeconomic stability, whilst providing sufficient room for economic restructuring, structural transformation and technological catch-up. The dangers of premature integration are examined.