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The main features of economic transition are liberalization and macroeconomic stabilization.
A transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy. Transition economies undergo a set of structural transformations intended to develop market-based institutions.
The main features of economic transition is liberalization, the loosening of government controls. Although sometimes associated with the relaxation of laws relating to social matters.
In macroeconomic stabilization is a condition in which a complex framework for monetary and fiscal institutions and policies is established to reduce volatility and encourage welfare-enhancing growth.
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