Transition economies are at different stages of integration into the world trading system. Most remaining reforms and adjustments must be initiated by the countries themselves. But the United States and the European Union can help by reviewing their policies toward "nonmarket" economies

This enlightening book offers a comprehensive historical analysis of the main development challenges of the last half century and the international community’s response through aid and trade. With 50 years of professional experience in the World Bank, the WTO and bilateral aid agencies,...

Chapter 1: Introduction -- Chapter 2: Growth Constraints, Aid Targets and Basic Needs -- Chapter 3: Export Pessimism and the Neoclassical Revival -- Chapter 4: Debt and Adjustment: Muddling Through -- Chapter 5: The Collapse of Planning and the Troubled Transition -- Chapter 6: The Birth of the...

“This is a very well written book, technically sound, and a great source of material for anyone who wants to understand the factors that have shaped much of international economics for the past half a century.” -K.Y. Amoako, President of the African Center for Economic Transformation, Ghana...