A transition from a centrally planned to a market economy implies a massive reallocation of resources requiring realignments in relative prices, which may have important distributional effects. This paper examines the extent to which income differentials have changed in countries where bold...

This paper examines how institutional conditions in transition economies compare with those in the rest of the world using various indicators of governance. The focus is on the countries in Central and Eastern Europe and the former Soviet Union but, when possible, transition countries, in Asia...

The predictability of a transition economy's institutional framework may well influence the amount of foreign direct investment and economic growth the economy can expect. Building reliable institutions that support a market system is widely believed to be critical to a successful economic...