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| Author: | Loesch, D. |
| Title: | Der Weg zur Markwirtschaft = The way to the market economy |
| Journal: | Wirtschaftsdienst
1992 : DEC, VOL. 72:12, p. 656-664 |
| Index terms: | MARKET ECONOMY ECONOMIC THEORY DEREGULATION STRATEGY RECESSION |
| Language: | ger |
| Abstract: | The introduction of the principles and institutions of market economy into a country where they did not exist before is an extremely difficult task. It cannot be accomplished successfully without a reliable, empirically tested theory. Such a theory should be used as a basis of economic policy, regulations and practical measures in the whole period of the transition. A comprehensive view of system transformation is developed. A procedural framework is also presented as an aid to selecting a feasible and efficient strategy of transformation. Some guideliness to deregulation and preventing excessive recession are offered. |
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