Post-Communist Transition: Some Lessons
the Chancellor's Five Tests Examined
Lessons learnt during the transition from communism to liberal democracy in Eastern Europe
Leszek Balcerowicz, President of the National Bank of Poland and former Deputy Prime Minister of Poland, one of the leading reformers in eastern Europe, discusses the varying outcomes of transitions in different countries, showing that it was policies, more than initial conditions, which produced the differences. He argues that the larger the scope of market-oriented reforms the better the performance in terms of growth, low inflation and environmental improvement. The presence of competent and determined reformers has also been a crucial factor in successful transformations.
2002, Occasional Paper 127, ISBN 0 255 36533 0, 57pp, PB