Latvia has undergone major economic and social change since the early 1990s. Despite an exceptionally deep recession following the global financial crisis, impressive economic growth over the past two decades has narrowed income and productivity gaps relative to comparator countries in the OECD....

Overview: Hopes tears and transformation / Nicholas Barr and Ralph W. Harbison -- The role of government in a market economy / Nicholas Barr -- The inheritance / Saul Estrin -- The forces driving change / Nicholas Barr -- Constraints on change / Nicholas Barr, Stanislav Gomulka, and Igor Tomes...