Post-Socialist transition in a 25-year perspective

Mihályi, Péter (2014) Post-Socialist transition in a 25-year perspective. Acta Oeconomica, 64 (Supple). pp. 1-24. ISSN 0001-6373

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Abstract

A recent international conference, entitled Transition in Perspective offered an opportunity for the author to take stock of the achievements of the post-socialist economies since the regime change in 1989/90. The analysis was carried out in two dimensions, in the political and the economic one. Regarding the first one, the record is largely positive: many countries have regained their independence, although in some cases the price was high and the fundamentals of democracy are still missing. In civil wars and inter-ethnic fights far too many people were killed and/or displaced. Since about 2000, many countries fell in the hand of autocratic leaders. In terms of catching-up with the income levels of the advanced economies, less than half of the countries were truly successful. The people have good reasons to be disappointed.

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