Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “transition economy”

transition economy

noun [C] ( also transitional economy)
 
 
ECONOMICS
an economy that is changing from being one under government control to being a market economy (= one in which companies are not controlled by the government): Export volume growth has been strongest in the transition economies and Latin America, at 10% and 6.5% respectively. Foreign direct investment is vitally important for all developing and transition economies.
(Definition of transition economy from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of transition economy?
Add Cambridge dictionaries to your browser to your website

Word of the Day

sail

When a boat or a ship sails, it travels on the water.

Word of the Day

Byronic, Orwellian and Darwinian: adjectives from names.

by Liz Walter,
April 15, 2015
Becoming an adjective is a strange kind of memorial, but it is often a sign of a person having had real influence on the world. Science is full of examples, from Hippocrates, the Greek medic born around 460 BC, who gave his name to the Hippocratic Oath still used by doctors today,

Read More 

dumbwalking noun

April 20, 2015
walking slowly, without paying attention to the world around you because you are consulting a smartphone He told me dumbwalking probably wouldn’t be a long-term problem.

Read More