Import substitution industrialization (ISI) is a trade and economic policy that advocates replacing foreign imports with domestic production. It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich List and Alexander Hamilton.
The five-year plans for the development of the national economy of the Union of Soviet Socialist Republics (USSR) consisted of a series of nationwide centralized economic plans in the Soviet Union, beginning in the late 1920s. The Soviet state planning committee Gosplan developed these plans based on the theory of the productive forces that formed part of the ideology of the Communist Party for development of the Soviet economy. Fulfilling the current plan became the watchword of Soviet bureaucracy.
The Socialist Republic of Romania was a Marxist–Leninist one-party socialist state that existed officially in Romania from 1947 to 1989. From 1947 to 1965, the state was known as the Romanian People's Republic. The country was an Eastern Bloc state and a member of the Warsaw Pact with a dominant role for the Romanian Communist Party enshrined in its constitutions. Geographically, RSR was bordered by the Black Sea to the east, the Soviet Union to the north and east, Hungary and Yugoslavia to the west, and Bulgaria to the south.
Gheorghe Gheorghiu-Dej was a Romanian communist politician and electrician. He was the first Communist leader of Romania from 1947 to 1965, serving as first secretary of the Romanian Communist Party from 1944 to 1954 and from 1955 to 1965, and as the first Communist Prime Minister of Romania from 1952 to 1955.
In the mid-1980s, Communist Czechoslovakia was prosperous by the standards of the Eastern Bloc, and did well in comparison to many richer western countries. Consumption of some goods like meat, eggs and bread products was even higher than the average countries in Western Europe, and the population enjoyed high macroeconomic stability and low social friction. Inhabitants of Czechoslovakia enjoyed a standard of living generally higher than that found in most other East European countries. Heavily dependent on foreign trade, the country nevertheless had one of the Eastern Bloc's smallest international debts to non-socialist countries.
East Germany had a command economy, similar to the economic system in the Soviet Union and other Comecon member states — in contrast to the market economies or mixed economies or other capitalist states. The state established production targets, set prices, and also allocated resources, codifying these decisions in comprehensive plans. The means of production were almost entirely state-owned. The GDR had an above-average standard of living compared to other Eastern Bloc countries or the Soviet Union, and enjoyed favorable duty and tariff terms with the West German market; in 1989, it was estimated that 50 to 60% of its trade was with Western countries. However by the mid-1980s its economy had reached a state of stagnation.
The "Era of Stagnation" is a term coined by Mikhail Gorbachev in order to describe the negative way in which he viewed the economic, political, and social policies of the Soviet Union that began during the rule of Leonid Brezhnev (1964–1982) and continued under Yuri Andropov (1982–1984) and Konstantin Chernenko (1984–1985). It is sometimes called the "Brezhnevian Stagnation" in English.
The Romanian Communist Party was a communist party in Romania. The successor to the pro-Bolshevik wing of the Socialist Party of Romania, it gave an ideological endorsement to a communist revolution that would replace the social system of the Kingdom of Romania. After being outlawed in 1924, the PCR remained a minor and illegal grouping for much of the interwar period and submitted to direct Comintern control. During the 1920s and the 1930s, most of its activists were imprisoned or took refuge in the Soviet Union, which led to the creation of competing factions that sometimes came into open conflict. That did not prevent the party from participating in the political life of the country through various front organizations, most notably the Peasant Workers' Bloc. During the mid-1930s, due to the purges against the Iron Guard, the party was on the road to achieving power, but the dictatorship of king Carol II crushed this. In 1934–1936, PCR reformed itself in the mainland of Romania properly, with foreign observers predicting a possible communist takeover in Romania. The party emerged as a powerful actor on the Romanian political scene in August 1944, when it became involved in the royal coup that toppled the pro-Nazi government of Ion Antonescu. With support from Soviet occupational forces, the PCR pressured King Michael I into abdicating, and it established the Romanian People's Republic in December 1947.
Đổi Mới is the name given to the economic reforms initiated in Vietnam in 1986 with the goal of creating a "socialist-oriented market economy". The term đổi mới itself is a general term with wide use in the Vietnamese language meaning "innovate" or "renovate". However, the Đổi Mới Policy refers specifically to these reforms that sought to transition Vietnam from a command economy to a socialist-oriented market economy.
The first five-year plan of the Union of Soviet Socialist Republics (USSR) was a list of economic goals, implemented by Communist Party General Secretary Joseph Stalin, based on his policy of socialism in one country. Leon Trotsky had delivered a joint report to the April Plenum of the Central Committee in 1926 which proposed a program for national industrialisation and the replacement of annual plans with five-year plans. His proposals were rejected by the Central Committee majority which was controlled by the troika and derided by Stalin at the time. Stalin's version of the five-year plan was implemented in 1928 and took effect until 1932.
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history.
The Five-Year Plans of Vietnam are a series of economic development initiatives. The Vietnamese economy is shaped primarily by the Vietnamese Communist Party through the plenary sessions of the Central Committee and national congresses. The party plays a leading role in establishing the foundations and principles of communism, mapping strategies for economic development, setting growth targets, and launching reforms.
On the eve of the 1921 revolution, Mongolia had an underdeveloped, stagnant economy based on nomadic animal husbandry. Farming and industry were almost nonexistent; transportation and communications were primitive; banking, services, and trade were almost exclusively in the hands of Chinese or other foreigners. Most of the people were illiterate nomadic herders, and a large part of the male labour force lived in the monasteries, contributing little to the economy. Property in the form of livestock was owned primarily by aristocrats and monasteries; ownership of the remaining sectors of the economy was dominated by Chinese or other foreigners. Mongolia's new rulers thus were faced with a daunting task in building a modern, socialist economy.
Industrialization in the Soviet Union was a process of accelerated building-up of the industrial potential of the Soviet Union to reduce the economy's lag behind the developed capitalist states, which was carried out from May 1929 to June 1941.
The Mexican miracle is a term used to refer to the country's inward-looking development strategy that produced sustained economic growth. It is considered to be a golden age in Mexico's economy in which the Mexican economy grew 6.8% each year. It was a stabilizing economic plan which caused an average growth of 6.8% and industrial production to increase by 8% with inflation staying at only 2.5%. Beginning roughly in the 1940s, the Mexican government would begin to roll out the economic plan that they would call "the Mexican miracle," which would spark an economic boom beginning in 1954 spanning some 15 years and would last until 1970. In Mexico, the Spanish economic term used is "Desarrollo estabilizador" or "Stabilizing Development."
The Tenth Five-Year Plan, or the 10th Five-Year Plan of the Union of Soviet Socialist Republics (USSR), was a set of goals designed to strengthen the country's economy between 1976 and 1980. The plan was presented by the Chairman of the Council of Ministers Alexei Kosygin at the 25th Congress of the Communist Party of the Soviet Union (CPSU). Officially the plan was normally referred to as "The Plan of Quality and Efficiency".
The Galați steel works, formally Liberty Galați, is a steel mill in Galați, Romania, the country's largest.
Alexandru Bârlădeanu was a Romanian Marxian economist and statesman who was prominent during the communist regime until being sidelined in 1968. In his later years, following the collapse of the regime, he served as Senate President.
The New Economic Policy (NEP) was an economic policy of the Soviet Union proposed by Vladimir Lenin in 1921 as a temporary expedient. Lenin characterized the NEP in 1922 as an economic system that would include "a free market and capitalism, both subject to state control", while socialized state enterprises would operate on "a profit basis".
The economy of the Soviet Union was based on state ownership of the means of production, collective farming, and industrial manufacturing. An administrative-command system managed a distinctive form of central planning. The Soviet economy was characterized by state control of investment, prices, a dependence on natural resources, lack of consumer goods, little foreign trade, public ownership of industrial assets, macroeconomic stability, low unemployment and high job security.
Soviet Union 
