This paper provides a comparative analysis of macroeconomic trends in the transition economies over the 1992-2003 period. It also describes some differences between the transition economies and emerging markets more generally. Good governance and appropriate institutions are found to be essential ingredients for success. However, history and geography seem to have predetermined the economic successes and failures. Being close to the EU provided the advantage of future accession while having been part of the Soviet Union proved to be a severe handicap.
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Length: 25 pages Date of creation: Dec 2005 Date of revision: Publication status: Published in UNECE Discussion Paper Series, No. 2005_8 Handle: RePEc:ece:dispap:2005_8
Find related papers by JEL classification: P27 - Economic Systems - - Socialist Systems and Transition Economies - - - Performance and Prospects P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe N9 - Economic History - - Regional and Urban History
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