Titlebook: Economics of Institutional Change; Central and Eastern Elodie Douarin,Tomasz Mickiewicz Book 2017Latest edition Tomasz Mickiewicz 2017 Com

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Moving Away from the Command Economy in Central and Eastern Europe and the Former Soviet Union,This chapter presents an overview of what became known as “transition” and sets the scene for the rest of the book by highlighting the diversity of experiences across the region and discussing key indicators. We discuss the stylised facts of transition, and the long term effect on the population based on the happiness literature.

Negligible

The Soviet System,This chapter focuses on Central Planning, to explain the reasons for the slowdown and ultimate implosion of the command economy system.

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Institutions; Institutional Reform,In this chapter, the reforms programmes that were implemented are discussed in broad lines, presenting indicators and comparing progress across the region. This chapter also introduce the importance of institutional change.

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Political Economy of Reforms,In this chapter, the focus is on the determinants of reforms and the linkages between the political system, reforms, and economic growth. We ask whether democracy was good for reforms, and for which reform in particular.

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Stabilisation,This chapter discusses macroeconomic stability, its importance, and alternative ways it was (or was not) achieved in the transition period. Building on the elements introduced in the earlier chapters.

Medley

Privatisation: Speed, Efficiency, and Effects on Wealth Distribution,This chapter focuses on a topic that became a political minefield across the whole region – the privatisation process, discussing the complexity of the task, the difficult trade-offs faced by reformers and the consequences of related policy choices.

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Transition as Institutional Change,Tacking stock of the arguments built in previous chapters, we reframe the discussion so far to emphasise the role of institutions in the process of development.