Transition Economies: Performance and Challenges
评估了从计划经济向市场经济转型头十二年的数据，发现转型国家与发达经济体的收入差距扩大，但政策选择影响绩效，尤其是法律框架和公司治理的完善程度。
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.