The fall of communism transformed the political and economic landscape in more than two dozen countries across Europe and Asia. In this volume published on the 25th anniversary of the fall, political leaders, scholars, and policymakers assess the lessons learned from the "great rebirth" of capitalism and highlight the policies that were most successful in helping countries make the transition to stable and prosperous market economies. Also discussed in this book are examples of countries reverting to political and economic authoritarianism. The authors of these essays conclude that the best outcomes resulted from visionary leadership, a willingness to take bold steps, privatization of state-owned enterprises, and deregulation. Recent backsliding in Russia and Hungary has cast a shadow over the legacy of the transition a quarter century ago, however.
This volume grew out of a two-day symposium of experts and practitioners reflecting on the past, present, and future of reform, held in Budapest, Hungary, on May 6–7, 2014.
- Front cover
- Title page
- Copyright
- Contents
- Preface
- Board of Directors
- Acknowledgments
- Map
- Introduction
- Part I Early Reformers
- Chapter 1 Poland Stabilization and Reforms under Extraordinary and Normal Politics
- Chapter 2 Regression Reform Reversal in Hungary after a Promising Start
- Chapter 3 Czechoslovakia and the Czech Republic: The Spirit and Main Contours of the Postcommunist Transformation
- Chapter 4 Estonia: The Most Radical Reforms
- Chapter 5 Russia: The Arduous Transition to a Market Economy
- Part II Latecomers and No-Shows
- Chapter 6 Slovakia: The Latecomer That Caught Up
- Chapter 7 Bulgaria: The Greatest Vacillations
- Chapter 8 Georgia: The Most Radical Catch-Up Reforms
- Chapter 9 Ukraine: Greatest Hopes, Greatest Disappointments
- Part III Trends
- Chapter 10 The Microeconomics of Postcommunist Transformation
- Chapter 11 Twenty-Five Years Later: Macroeconomic Aspects of Transition
- Chapter 12 From Transition to Integration: The Role of Trade and Investment
- Chapter 13 Transition in Historical Perspective
- Chapter 14 The Political Economy of Change after Communism
- Timeline of Events in the Region
- Abbreviations
- About the Contributors
- Index
- Other Publications from the Peterson Institute for International Economics
- Back cover
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