The Romanian economic mess after Ceausescu: what can we expect?

by Keith Crane

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The next Romanian leader will face a host of economic problems bequeathed by his predecessor. Many of these problems--such as declines in agricultural production, low capital productivity, and falling standards of living--have been the consequence of Nicolae Ceausescu's economic policies. As a result, his successor's first order of business will probably be to change those policies that have contributed to the current economic mess. This paper speculates on what these new economic policies may be. As a background to this discussion, it reviews Ceausescu's legacy, both in terms of the current economic situation and the policies that have driven the Romanian economy to its present state.

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