Transition and Beyond

1. Front Matter

   Pages i-xix

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2. Introduction

   1. Introduction

      • Saul Estrin, Grzegorz W. Kolodko, Milica Uvalic

      Pages 1-13

3. The Socialist Legacy

   1. Front Matter

      Pages 15-15

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   2. The Rise and Fall of Socialist Planning

      • Michael Ellman

      Pages 17-34

   3. Life Cycle of the Centrally Planned Economy: Why Soviet Growth Rates Peaked in the 1950s

      • Vladimir Popov

      Pages 35-57

   4. Are Transition Economies Normal Developing Countries? The Burden of the Socialist Past

      • Michael Keren, Gur Ofer

      Pages 58-85

4. Transition: From Socialism to Capitalism

   1. Front Matter

      Pages 87-87

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   2. Growth, Initial Conditions, Law and Speed of Privatization in Transition Countries: 11 Years Later

      • Sergio Godoy, Joseph E. Stiglitz

      Pages 89-117

   3. Skills and the Transition

      • Simon Commander

      Pages 118-132

   4. Financial Transition in Central and Eastern Europe. A Note

      • Marcello de Cecco

      Pages 133-148

   5. Investment, Wages and Corporate Governance during the Transition: Evidence from Slovenian Firms

      • Janez Prašnikar, Jan Svejnar

      Pages 149-173

   6. How Different Is Serbia?

      • Milica Uvalic

      Pages 174-190

   7. The Search for Identity: Where Is Russia Heading?

      • Padma Desai

      Pages 191-213

   8. The Effects of Privatization on Company Performance in Belarus

      • Saul Estrin, Marina Bakanova, Igor Pelipas, Sergei Pukovich

      Pages 214-225

5. Beyond Transition

   1. Front Matter

      Pages 227-227

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   2. Complexity and Systemic Failure

      • Vito Tanzi

      Pages 229-246

   3. Risk Management and Systemic Risk

      • John Eatwell

      Pages 247-262

   4. Optimal Transition Trajectories?

      • László Csaba

      Pages 263-277

   5. The Great Post-Communist Change and Uncertain Future of the World

      • Grzegorz W. Kolodko

      Pages 278-297

6. Back Matter

   Pages 298-307

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This book covers a wide variety of aspects of transition in Central and Southeast Europe and the CIS, including the socialist legacy, privatization and growth, skills, and banking reforms. It also covers the evolution of the global economy beyond transition, looking at complexity, risk management, the optimal transition path, and globalization.

• capitalism
• communism
• Developing Countries
• Eastern Europe
• Global economy
• globalization
• growth
• planned economy
• Privatization
• socialism
• Transition Countries

• London School of Economics, UK

  Saul Estrin

• Kozminski Business School, TIGER, Warsaw, Poland

  Grzegorz W. Kolodko

• University of Perugia, Italy

  Milica Uvalic

MARINA BAKANOVA World Bank Country Economist for Belarus SIMON COMMANDER Director of the Centre for New and Emerging Markets (CNEM), London Business School, UK; Senior Adviser, European Bank for Reconstruction and Development, UK LÁSZLÓ CSABA Professor of Economics and European Studies, Central European University, Budapest, Hungary; Professor, University of Debrecen, Hungary; Professor, Budapest Corvinus University, Hungary MARCELLO DE CECCO Professor of Monetary and Financial History, Scuola Normale Superiore di Pisa, Italy PADMA DESAI Gladys and Roland Harriman Professor of Comparative Economic Systems and Director of the Centre for Transition Economies, Columbia University, USA; Member, Council on Foreign Relations, USA JOHN EATWELL Lord Eatwell of Stratton St. Margaret (Life Peer); President, Queens' College, Cambridge, UK; Director, Cambridge Endowment for Research in Finance, UK; Professor of Financial Policy, Judge Institute of Management, University of Cambridge, UK MICHAEL ELLMAN Professor of Economics, University of Amsterdam. The Netherlands SERGIO GODOY Senior Economist, Financial Operations Division, International Finance Group, Central Bank of Chile, Chile; Part-Time Professor in Emerging Financial Markets, Universidad Católica de Chile, Chile MICHAEL KEREN Professor, Department of Economics, Hebrew University, Jerusalem, Israel GUR OFER Harvey M. and Lyn P. Meyerhoff (Emeritus) Professor of Soviet Economics, Department of Economics and Departmentof Russian Studies, The Hebrew University, Jerusalem, Israel IGOR PELIPAS Director, Research Centre of the Institute for Privatization and Management (IPM), Minsk, Belarus VLADIMIR POPOV Professor, New Economic School, Moscow, Russia; Sector Head, Academy of the National Economy, Moscow, Russia; Visiting Professor, Carleton University, Ottawa, Canada JANEZ PRA NIKAR Professor of Economics, Executive Director of the Institute for South-Eastern Europe; Associate Dean for Research, Faculty of Economics, Ljubljana, Slovenia; Director, Residential Master's Program in Business and Organization, Ljubljana, Slovenia SERGEI PUKOVICH Institute of Privatization and Management, Minsk, Belarus; Director, Consulting Centre of the Institute for Privatization and Management (IPM), Minsk, Belarus JOSEPH E. STIGLITZ Professor, Columbia University, New York, USA; Chair, Committee on Global Thought, Columbia University, New York, USA JAN SVEJNAR Director, International Policy Centre, Gerald R. Ford School of Public Policy, USA; Everett E. Berg Professor of Business Administration, Professor of Economics and Professor of Public Policy, University of Michigan, USA; Chairman, Executive and Supervisory Committee of CERGE-EI, Prague, Czech Republic; Chairman, Supervisory Board of CSOB Bank, Czech Republic; Governing Board Member, European Economic Association, UK VITO TANZI Consultant, Inter-American Development Bank, USA

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