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How Far Has the Transition Progressed?

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  • Peter Murrell

Abstract

As the opening contribution to a four-page symposium, this paper provides an overview of the economic transformation in reforming countries of eastern Europe and the former Soviet Union, describing reforms, their consequences, and lessons economists might derive from transition. The topics covered are political developments, liberalization, institutional reconstruction, reforms of systems for social protection, and the early results of transition. The final section considers future possibilities in the light of the last few years' events, concluding that the process of democratic capitalism is well established in central Europe, but uncertainty still prevails in most of the former Soviet Union.

Suggested Citation

  • Peter Murrell, 1996. "How Far Has the Transition Progressed?," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 25-44, Spring.
  • Handle: RePEc:aea:jecper:v:10:y:1996:i:2:p:25-44 Note: DOI: 10.1257/jep.10.2.25
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    1. repec:aei:rpbook:24387 is not listed on IDEAS
    2. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 407-443.
    3. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    4. Borjas, George J, 1987. "Self-Selection and the Earnings of Immigrants," American Economic Review, American Economic Association, pages 531-553.
    5. Gary S. Becker, 1983. "A Theory of Competition Among Pressure Groups for Political Influence," The Quarterly Journal of Economics, Oxford University Press, vol. 98(3), pages 371-400.
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    JEL classification:

    • P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General

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