Assistance to the Transition Economies : Were There Alternatives?
Twelve years after the fall of the Berlin Wall, domestic and international analysts of the transition economies by and large agree that the transition from central planning to a market economy has been exceedingly difficult. There has also been a m...
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2002/01/20161087/assistance-transition-economies-alternatives http://hdl.handle.net/10986/20232 |
| Summary: | Twelve years after the fall of the
Berlin Wall, domestic and international analysts of the
transition economies by and large agree that the transition
from central planning to a market economy has been
exceedingly difficult. There has also been a major debate
about the extent to which the transition to date has
succeeded or failed. This paper provides an assessment of
the policies that were followed and discuss the extent to
which there were known alternatives that can have resulted
in superior outcomes in terms of: (a) gross domestic product
(GDP) growth and other principal performance indicators, (b)
building honest and competent institutions, and (c) creating
a more transparent and less corrupt system of corporate and
national governance. Section two provides a brief overview
of performance since 1989. Section three presents the
recommendations that were made and policies that were
followed. The paper concludes in section four by assessing
the extent to which alternative paths can have been followed
and what the likely outcomes will have been. |
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