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five-year plan

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A series of nationwide centralized economic development initiatives, originated in the Soviet Union in 1928 and later adopted by many other countries with high degrees of centralized economic planning, e.g. Nazi Germany, India, China, and socialist countries of Eastern Europe. Similar methods of setting integrated economic goals for a finite period of time are also used in some capitalist states, adapted for a market economy.

Subjects: Social sciencesEconomics

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