Frequent government changes, often bringing reversals in ideological orientations, forced agents in economies in transition to make economic decisions without knowing whether their next government would be more or less benevolent, democratic, corrupt, or able and willing to pursue economic...

Transition to market economy in European soviet socialist countries was not expected even in late 1980s. Beliefs gravitated around the building of a "socialism with human face" - "glasnost", "perestroika" etc., but not around building of market economy. Views changed slowly and political steps...

Political and economic transition is often blamed for Russia’s 40% surge in deaths between 1990 and 1994 (the “Russian Mortality Crisis”). Highlighting that increases in mortality occurred primarily among alcohol-related causes and among working-age men (the heaviest drinkers), this paper...

Why many transition economies succeeded by pursuing policies that are so different from the radical economic liberalization (shock therapy) that is normally credited for the economic success of central European countries? First, optimal policies are context dependent, they are specific for each...

Central European countries highlight the importance of institutions as they are of somewhat different nature in this diverse group of countries, given their different history. Briefly, before World War II there was a market economy in place in Central Europe – as opposed to most Eastern...

Using cross-country regressions, we examine the relationship between “point-source” resource abundance and economic growth, quality of institutions, investment in human and physical capital, and social welfare (life expectancy and infant mortality). Contrary to most literature, we find...

The Orange Revolution in the fall of 2004 built great hopes for a better future for Ukraine. However, three years later those hopes have been replaced by disappointment, frustration and confusion. Although progress in the areas of political freedom, pluralism, civil rights and freedom in the...

The Central and Eastern European countries significantly reduced their carbon dioxide (CO2) emissions between 1995 and 2003. Was this emission reduction just the fortuitous result of the major economic transformation undergone by countries in the transition? Or is it rather a result of more...

This paper deals with liberalization and the evolution of output during the transition from plan to market. It explains why strong liberalization leads to a comparatively steep fall in output early in the transition, but a relatively strong recovery later on

In the transition from socialism to capitalism in Eastern Europe life satisfaction has followed the V-shaped pattern of GDP but failed to recover commensurately. In general, increased satisfaction with material living levels has occurred at the expense of decreased satisfaction with work,...