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...

This paper seeks to explain, why Russian (and CIS) economic transformation was neither a shock therapy nor a gradual transition case, but instead followed a sort of middle-ground inconsistent shock therapy path

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...

In recent years currency crises affected not only Southeast Asian countries, but transition economies as well. The Russian crisis of August 1998 was perhaps the most spectacular example, but it was preceded by currency crises in Bulgaria and Romania in 1996-97, in Ukraine and Belarus in 1997-98...

Uzbekistan is not usually considered an economic success story, but in fact it is: its GDP increased since 1989 more than in any other post-communist country, except for China, Vietnam and Turkmenistan. The success of Uzbekistan is very much similar to the Chinese – gradual economic reforms...