With the collapse of the Union, all new sovereign states recognized the priority development guidelines in politics as the further development of the democracy, and in economics - as the market economy.
The Economic Transformation Period Problems:
- lack of the deep knowledge of market mechanisms personnels, as well as with sufficient practical experience of the free market, both among the highest governing bodies and among managers of various sectors of the economy.
Achievements:
- economies were mainly based on private property, prices for goods and services became free and competition appeared in the market for goods and services, and there was little growth in the economy.
Flaws:
- widely spread relatively rapid transfer of means of production from the state to private hands, as a result of large-scale privatization, gave rise to small-scale commodities
- private small-scale producers making up the predominant part of the economy have become an obstacle to further development of the economy
- union government structures (Union Government, Gosplan, Gossnab, Tsentrsoyuz, Soyuzvneshtorg, etc.) were liquidated; the accumulated experience, positive practice of interactions, mechanisms of management and regulation of the economy turned out to be unacceptable, essentially emerging under previously unknown conditions, spontaneously, chaotically, unsystematically
- deprived of union cooperation in the economy, divided a huge territory of economic space with all natural, economic and intellectual potentials, as well as the consumer market
Current problem:
- to improve the organization and management of the economy based on combination, symbiosis of the positive practices of the past, the Soviet period of development and market mechanisms, taking into account the processes occurring in the world (globalization, development of information and communication technologies, nanotechnology, etc.), to determine all of its economic potential to unite (consolidate), cooperate