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Explain three main features of economic transition? As an example consider the current challenges facing Russia...

Explain three main features of economic transition? As an example consider the current challenges facing Russia in terms of economic growth.

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The main features of Economic transition are liberalization, macroeconomics stabilization, privatization and legal and institutional reforms.

A transition Economy is an Economy which is changing from a centrally planned Economy to market Economy,these economies undergo a set of structural transformation intended to develop market based institution.

Russia has a mixed Economy.russia has achieved a virtual macroeconomics revolution to the point where it is one of the largest creditors of U.S. debt.russia has changed more rapidly and unexpectedly than it's Economic situation.

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