This paper discusses the global financial crisis of 2008/9 in thirteen countries, the ten new EU members that previously were communist and the three countries of Western former Soviet Union. Their problems were excessive current account deficits and private foreign debt, currency mismatches,...

The development of the institutional capacity to create and evaluate economic policies remains a critical need-and constraint-in most transition economies if they are to complete the successful passage to fully functioning market economies. To take an active role in the transition process,...