Globalization and the Integration-Assisted Transition In Central and Eastern European Economies

摘要

The transition process has aimed to develop an environment conducive to free, less costly and easier penetration by multinational enterprises (MNEs). The transition process has also involved the integration of localized cultures, domestic entrepreneurship, business and legal institutions, communities, governments, resources and the political environment into the international political economy. In this context, the International Monetary Fund (IMF) and the World Bank also contributed to the integration of transition economies by enforcing shock therapy policies upon transition economies through conditionality. The shock therapy policies ensured that these economies were integrated in the globalized world to facilitate the easy penetration of MNEs.