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Transformation and Development
(Abstract)
In the early stages of transformation an ideological view of reverting command economy has dominated public discourse and academic exchanges alike. Since abolition of distortions was not followed by immediate growth, but a systemic vacuum, transformational recession followed. When understanding of the substance of proper policies and institutions improved, it turned out that many problems, primarily of creating conditions for sustainable growth, are similar or comparable to those in developing countries. The evolving post-Washington consensus may offer an appropriate single analytical framework to assess both successes and failures, as well as longer term growth potentials of the postcommunist countries.
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