Fifteen years ago, twenty-seven countries in Europe and Central Asia embarked on their economic transition paths. For some, the outcome was a considerable success. Several others are still struggling to shed the inheritance of the past and to correct more recent policy mistakes. Why were post-Communist recessions so long in some countries and growth disappointing? Why was fiscal performance so different? Was democracy a factor, which facilitated reforms or rather slowed them down? This book discusses these questions in the context of new empirical evidence, including a critical examination of the main themes in the economics of transition literature.

Autorentext
TOMASZ MAREK MICKIEWICZ is a Professor of Comparative Economics at the School of Slavonic and East European Studies, University College London, UK. He serves on the editorial board of 'Post Communist Economies' and publishes on entrepreneurship, corporate governance and effects of privatisation in 'Lancet', 'Journal of Business Venturing', 'Emerging Markets Finance and Trade', "Europe Asia Studies', 'Economics of Transition' and others.

Inhalt
Introduction PART I: WHAT HAPPENED? The Old Regime and the Opening Balance of Transition The Transition Programme: Interdependence between the Key Components Stabilisation Privatisation: The Trade-offs between Speed, Efficiency and Distribution Unemployment Paths and Restructuring PART II: WHY? NEW EMPIRICAL RESULTS Post-Communist Recessions Re-examined Liberalisation and Public Finance The Order of Financial Liberalisation Democracy and Reforms Economic Growth Final Remarks