transition economy
noun[C]
ECONOMICS(alsotransitional economy)ukusaneconomythat ischangingfrom being one undergovernmentcontrolto being amarketeconomy(= one in whichcompaniesare notcontrolledby thegovernment):
Exportvolumegrowthhas beenstrongestin thetransitioneconomiesandLatinAmerica, at 10% and 6.5%respectively.
Foreigndirectinvestmentisvitallyimportantfor alldevelopingandtransitioneconomies.