The World Bank and the process of transition in Eastern Europe : Lessons for China and Vietnam

Following the collapse of the planning system in the former USSR and Eastern Europe, the World Bank and the IMF rushed in to fill the vacuum. Since then they have become increasingly involved in the transformational process that is taking place in these countries. In addition to insisting on policy change as a condition for giving financial assistance and technical advice these two financial organizations have organized conferences and engaged their staff to write papers and monographs on the economies of transition. The article is primarily a critique of some papers presented at conferences organized by the World Bank. The author also draws some lessons from the mechanics of transition in China and Vietnam. (DÜI-Sen)