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The postsocialist transformation in central and Eastern Europe

Author

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  • Béla Greskovits

Abstract

What is attempted in the East is catching up with the West from a recent position of worse-than-Latin-American economic backwardness. Until now, populations that were sentenced to political patience by the logic of poor democracies have reluctantly backed this enormous effort. Central and Eastern Europe’s post-socialist path is characterized by an increasingly discredited ideology of a return to Europe and a non- European combination of substitute institutions of development: radical opening towards the world economy, damaged institutions of labor representation, eroded state capacity, and often strong private and foreign dominance in the financial and other strategic sectors. There is a chance for a few countries to succeed. Yet various development traps may be more likely in the end than a “Great Spurt” in the Gerschenkronian sense. JEL Classification: N14, P23.

Suggested Citation

  • Béla Greskovits, 2002. "The postsocialist transformation in central and Eastern Europe," Brazilian Journal of Political Economy, Center of Political Economy, vol. 22(4), pages 579-593.
    • Handle: RePEc:ekm:repojs:v:22:y:2002:i:4:p:579-593:id:953
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    More about this item

    Keywords

    Central and Eastern Europe; pos-socialism; trade opning;
    All these keywords.

    JEL classification:

    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • P23 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Factor and Product Markets; Industry Studies; Population

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