Economic Development of Comecon Countries
19 Pages Posted: 28 Sep 2015
Date Written: September 27, 2015
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.
Keywords: Economic Development, Comecon, Socialist Systems
JEL Classification: N10, O10, O20, P20, P36
Suggested Citation: Suggested Citation