At the close of the Cold War, Central and Eastern Europe’s economies were burdened by pervasive state ownership and concentrated investments in heavy industry. Fiscal and monetary policies had focused on boosting industrial growth, without regard to macroeconomic balance, resulting in chronically excessive demand and widespread shortages.
认为该地区转型的成功属于必然是错误的。冷战结束时，中欧和东欧经济背负着沉重的国家所有制和集中投资于重工业的负担。财政和货币政策集中在提振工业增长上而不考虑宏观经济平衡，导致长期过度需求和普遍短缺。更糟糕的是，给地区大部分国家——捷克斯洛伐克是个显著的例外——饱受不可持续的外债和高企的通胀的困扰。