chapter  8
46 Pages

New Perspectives in East-West Business: The Case of Hungary

From a Western perspective, Eastern European markets are often seen as an unknown and uniform mass operating under a rigid central planning system. This does not reflect the fact that although sharing many common characteristics, socialist markets also differ from one another in many significant respects. Perhaps more importantly, it does not take into account the economic and other reforms of the past two decades in Eastern Europe, which have resulted in the adoption of economic management models that rely increasingly on market forces. Although media coverage of the Soviet Union's glasnost policy since 1986 has attracted attention to changing conditions in Eastern Europe, detailed and systematic information is still scant and the policy itself is often viewed with suspicion.