The State and Economic Development in Eastern Europe

The State and Economic Development in Eastern Europe

The State and Economic Development in Eastern Europe

The State and Economic Development in Eastern Europe

Excerpt

T he state has been a prime mover in economic change in eastern Europe. It has spurred the process of modernization -- it has developed complex administrative services, created developmental banks, encouraged the growth of certain industries (mostly connected with defense). It has further attempted to both deepen and channel processes started by other "prime movers" of change -- e.g., foreign investors and "non- indigenous" entrepreneurs. Finally, it has sought with widely varying degrees of success, before the advent of the Communist regimes, to accelerate the growth of the private industrial sector by providing protection, subsidies, or tax exemption to private investors, by relying heavily on foreign lending, and by directly expanding its own investment and ownership holdings in the economy.

The Formative Years

A century ago the present east European area was divided among Austria-Hungary, Russia, Germany, and the Ottoman Empire. In the period of maturation and expansion of the west European capitalistic system, in . . .

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