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The Great Transformation of Central Eastern Europe: Success and Disappointment

In: Institutional Change and Economic Behaviour

Author

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  • János Kornai

    (Harvard University)

Abstract

This chapter examines eight particular countries that became members of the European Union in 2004: the Czech Republic, Estonia, Poland, Latvia, Lithuania, Hungary, Slovakia and Slovenia. I take the liberty of referring collectively to these countries as Central Eastern Europe or the Central Eastern European region, though of course this is somewhat imprecise geographically. As I write these lines, the European Union is undergoing trying times and it is impossible to guess what the future will bring. Whatever influence the eventual fate of the European Union will exert on the eight countries under consideration is a distinct issue from the topic of this study. On the other hand, it may be worthwhile to take a look at this region separately, since the status of each country was subjected to microscopic examination by various bodies of the EU prior to accession. The memberships may be seen as certificates, which are supposed to attest to the fact that these countries boast both democratic political systems and functioning market economies.

Suggested Citation

  • János Kornai, 2008. "The Great Transformation of Central Eastern Europe: Success and Disappointment," International Economic Association Series, in: János Kornai & László Mátyás & Gérard Roland (ed.), Institutional Change and Economic Behaviour, chapter 1, pages 1-37, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-0-230-58342-9_1
    DOI: 10.1057/9780230583429_1
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    References listed on IDEAS

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    1. Gérard Roland, 2004. "Transition and Economics: Politics, Markets, and Firms," MIT Press Books, The MIT Press, edition 1, volume 1, number 026268148x, December.
    2. J. Stiglitz, 1999. "Whither Reform? Ten Years of the Transition," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 7.
    3. Kolodko, Grzegorz W., 2000. "From Shock to Therapy: The Political Economy of Postsocialist Transformation," OUP Catalogue, Oxford University Press, number 9780198297437.
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