The great transformation 1989–2029

Grzegorz W. Kolodko ()
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Grzegorz W. Kolodko: TIGER — Transformation, Integration and Globalization Economic Research, Warsaw, Poland

Society and Economy, 2009, vol. 31, issue 2, 175-191

Abstract: 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.

Keywords: transformation; economic growth; development; institutions; economic policy; post-Communist period; Central Eastern Europe; former Soviet Union; future (search for similar items in EconPapers)
JEL-codes: A11 E6 F02 F43 H11 I38 N1 O17 (search for similar items in EconPapers)
Date: 2009
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