Causes and eruption of the financial crisis -- Political economy of crisis resolution -- The exchange rate dilemma -- The banking crisis that never materialized -- International cooperation in crisis -- Why Eastern Europe acted so responsibly -- Eastern Europe and the fiscal crisis in the...

Thirty years after the collapse of the Soviet Union, it is rather clear what transition policies have worked. Almost all the post-communist countries have become market economies and have achieved macroeconomic stability. Privatization was economically necessary, and its economic outcomes have...