This is the first comprehensive study of the economics and politics of postsocialism in thirty transition countries in Europe and Asia. The author, the architect of Poland's successful reforms, compares initial conditions, shifting target models, paths to reform, and progress to date. He offers sensible policy alternatives to the Washington Consensus.

• Introduction


• 1: Transition from socialism: where to?


• 2: Different points of departure


• 3: Systemic change and economic performance


• 4: Transitional recession: expectations, reality, interpretations


• 5: The Washington Consensus revisited


• 6: Transition policy and development strategy


• 7: Transition from plan to market


• 8: Financial reform and policy


• 9: The redistribution of the costs and benefits of transition


• 10: Marketization and democratization


• 11: From recovery to sustained growth


• 12: The internationalization of postsocialist economies


• 13: The long-term prospects


• 14: Doubts and conclusions

Kolodko is a university professor (currently of Warsaw and Rochester universities), researcher, consultant to international organizations, former government minister in Poland, and author of numerous books and research papers.