Munich Personal RePEc Archive

Economic development of Comecon countries

Dumitriu, Ramona and Stefanescu, Răzvan (2015): Economic development of Comecon countries. Published in: VANGUARD SCIENTIFIC INSTRUMENTS IN MANAGEMENT , Vol. 1, No. 12 (2016)

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Abstract

In 1949, Soviet Union and some of its satellites created Comecon with the announced goal to facilitate economic cooperation between the socialist countries. The inefficiency of socialist systems affected the performances of Comecon members. However, the analysis of economic development from some of these countries should take into consideration the substantial subsidies received from other Comecon members.

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