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The great transformation 1989–2029


  • Grzegorz W. Kolodko

    () (TIGER — Transformation, Integration and Globalization Economic Research, Warsaw, Poland
    Kozminski University, Warsaw, Poland)


Over 1.8 billion people — from Central Europe to East Asia — have been involved in the great systemic transformation to market economy, civic society and democracy, lasting already a generation. The process has evolved more by chance than by design, and has brought mixed fruits. The diversification of the current situation is a result of both the legacy from the past and the different strategies and policies executed in particular countries over subsequent periods. These polices have been based on different assumptions and followed the advises of alternative schools of economic thought. Consequently, there are theoretical lessons to learn, as well as policy implications, from this vast experience. The paper, written from the comparative perspective and exercising counterfactual history analyses of the multi-track process of the great Post-Communist change during the last two decades, provides some forecasts and propositions for the next generation.

Suggested Citation

  • Grzegorz W. Kolodko, 2009. "The great transformation 1989–2029," Society and Economy, Akadémiai Kiadó, Hungary, vol. 31(2), pages 175-191, December.
  • Handle: RePEc:aka:soceco:v:31:y:2009:i:2:p:175-191

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    More about this item


    transformation; economic growth; development; institutions; economic policy; post-Communist period; Central Eastern Europe; former Soviet Union; future;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements


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