| Budget Amount *help |
¥1,400,000 (Direct Cost: ¥1,400,000)
Fiscal Year 1995: ¥500,000 (Direct Cost: ¥500,000)
Fiscal Year 1994: ¥900,000 (Direct Cost: ¥900,000)
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| Research Abstract |
It is well known that the transition to a market economy which is now going on in the former Soviet and Eastern European countries continues to face much more serious obstacles than initially expected. The author attempted to single out the factors that contributed to the difficutlies, which are divided into three main groups ; (1) adversity of the international situation, (2) insufficient recognition of the width and depth of the tasks, (3) invalidity of strategies and policies chosen.
In order to find an effective way out of such difficulties, he noticed to the fundamental importance of a financial reform and argued that the highest priority should be given to the reform of a financial sector, among other things, a banking sector.
Finally, he evaluated the transition policies followed in three Central European countries, that is, Poland, Czech Republic, and Hungary, calling into question the dichotomous view of "shock therapy, or radicalism versus gradualism."
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