transition economy Meaning in the Cambridge English Dictionary
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Meaning of “transition economy” in the English Dictionary

"transition economy" in Business English

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transition economynoun [C]

(also transitional economy) uk   us   ECONOMICS
an ​economy that is ​changing from being one under ​governmentcontrol to being a marketeconomy (= one in which ​companies are not ​controlled by the ​government): Export ​volumegrowth has been ​strongest in the ​transitioneconomies and Latin America, at 10% and 6.5% respectively. Foreign ​directinvestment is vitally important for all developing and ​transitioneconomies.
(Definition of transition economy from the Cambridge Business English Dictionary © Cambridge University Press)
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