Question

What is economic transition? As an example consider the current challenges facing Russia in terms of economic growth. ​

Answer 1

Explanation:

The problems underlying the current slowdown of the Russian economy are of a persistent nature and cannot be resolved with simple measures such as a softer monetary or fiscal policy. The fundamen- tal reason for these problems is the weak market environment dominated by public and quasi-public companies. A new growth model should be based upon strong incentive for the business, as well as the government regulation system, to improve efficiency.

Answer 2

Answer:

What is economic transition?

ANSWER) 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.

Explanation:

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