Transition to a market economy is a lengthy process comprised of various spheres of economic activities. The naive belief that a market economy can be introduced by "shock therapy" is wrong, and in several cases, when attempted, has caused more problems than it has solved. Because a market...

Institution building. It's the new global mantra, chanted by mandarins and moneymen alike, for warding off economic collapse. But these two words have an infinite number of interpretations, from advocates of more non-governmental organizations to capitalist in search of binding contracts to...

New development policies are emerging after 10 years of experience with the transition process. Both theoreticians and policymakers are revising earlier theories about the market-state relationship, scrutinizing privatization processes, tackling deregulation arrangements with a fresh attitude,...

In 1994-97 Poland has recorded an outstanding economic performance in terms of GDP growth, simultaneous reduction of inflation and unemployment, fiscal balance, zloty real revaluation, capacity restructuring, private sector growth and institution building. The Polish success needed a market...

The globalisation of economic relationships and the systemic transformation in post-socialist countries are two interlacing processes and a mark of the turn of the century. Globalisation, that is, the institutional and real integration of national and regional markets into a single worldwide...