Acknowledging that the communist monopolies will not be reinstated in Eastern Europe and the Soviet Union, the author analyses the political and economic changes taking place, for instance, the diffusion of electoral and property rights. Accompanying discussions about prices decontrol is the...

This paper discusses the policy options that resource-rich economies need to implement in order to promote capital formation and sustainable development.

The post-Soviet political economy of Azerbaijan, Kazakhstan and Turkmenistan is characterised by authoritarian government, substantial public revenue from hydrocarbons and GDP per capita ranked 'low' to 'lower middle'. The first of these weakens prudential constraints on the allocation of the...