Grzegorz W. Kołodko – Post Communist Transition Thorny Road

Post-Communist Transition: The Thorny Road treats the historical endeavor to transform state-controlled economies to new institutional arrangements of free market economies. This ongoing transition is an indispensable part of globalization. The recession created by the transition has lasted much longer than expected, contraction was deeper than earlier assumed, and the recovery was not and in some cases still is not as smooth as envisaged by both the relevant governments and international or