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Transition Economies

Performance and Challenges

Bibliographic Data

ID4816634
AuthorsJan Svejnar (Executive Director of the William Davidson Institute, Everett E. Berg Professor of Business Administration and Professor of Economics, all at the University of Michigan, Ann Arbor, Michigan; Chair of the Executive and Supervisory Committee, CERGE-EI, Prague, Czech Republic., corresponding author)
Year2002
Volume16
Issue1
Pages3-28
Publication date2002-02-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Journal of Economic Perspectives (JOURNAL)
Journal identifiersISSN: 0895-3309 • E-ISSN: 1944-7965
PublisherAmerican Economic Association (PUBLISHER • US)
DOI10.1257/0895330027058
OpenAlexW2159000233
LanguageEN
Citations received65
References cited17

I present data and assess the first twelve years of the transition from plan to market. Transformations have taken place, but the income gap between the transition and advanced economies has widened. Transition countries further east have performed worse than those further west, but policies matter. All countries carried out quickly Type I reforms, such as macroeconomic stabilization, price liberalization, small-scale privatization, and breakup of state-owned enterprises. They differed in Type II reforms, such as large-scale privatization and development of banking and legal systems. Countries that developed a functioning legal framework and corporate governance have performed better than others

Business · Corporate governance · Economic system · Economics · Economies of scale · Emerging markets · International economics · Liberalization · Macroeconomics · Market economy · State ownership · Transition countries · Banking stability, regulation, efficiency · Global Financial Crisis and Policies · State Capitalism and Financial Governance · Finance

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Unique citing works65
Citations per year2,95
Citation span2004 - 2026 (23)
Citation velocitycurrent
Highly citedNo
Citation typesNeutral: 59

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