About the Book
This book explores the socialist legacy in Central and Southeast Europe and the CIS, the economics of transition and progress in the global economy after transition. The book provides an up-to-date evaluation of the transition, as well as insights and discussion on current phenomena such as globalization and complexity. Original essays are included on the socialist legacy by Michael Ellman, Vladimir Popov and Michael Keren with Gur Ofer. Papers on transition focus on privatization and growth by Godoy and Stiglitz; skills by Commander; banking reforms by de Cecco and country studies by Desai (Russia), Estrin et al (Belarus), Prasnikar and Svejnar (Slovenia), and Uvalic (Serbia). Finally, four papers consider the evolution of the global economy beyond transition, with Tanzi on complexity, Eatwell on risk management, Csaba on the optimal transition path, and Kolodko on globalization.
Table of Contents:
Introduction; S.Estrin, G.Kolodko & M.Uvalic PART I: THE SOCIALIST LEGACY The Rise and Fall of Socialist Planning; M.Ellman Life Cycle of the Centrally Planned Economy: Why Soviet Growth Rates Peaked in the 1950s; V.Popov Are Transition Economies Normal Developing Countries? The Burden of the Socialist Past; M.Keren & G.Ofer PART II: TRANSITION: FROM SOCIALISM TO CAPITALISM Growth, Initial Conditions and, Law and Speed of Privatization in Transition Countries: 11 Years Later; S.Godoy & J.E.Stiglitz Skills and the Transition; S.Commander Financial Transition in Central and Eastern Europe: A Note; M.de Cecco Investment, Wages and Corporate Governance During the Transition: Evidence from Slovenian Firms; J.Prasnikar & J.Svejnar How Different is Serbia?; M.Uvalic The Search for Identity: Where is Russia Heading?; P.Desai The Effects of Privatization on Company Performance in Belarus; S.Estrin, M.Bakanova, I.Pelipas & S.Pukovich PART III: BEYOND TRANSITION Complexity and Systemic Failure; V.Tanzi Risk Management and Systemic Risk; J.Eatwell Optimal Transition Trajectories?; L.Csaba The Great Post-Communist Change and Uncertain Future of the World; G.W.Kolodko
About the Author :
SAUL ESTRIN is a Professor in Managerial Economics and Strategy and Head of the Department of Management at the London School of Economics, UK. He was previously Professor of Economics at London Business School, UK, where he also served as Adecco Professor of Business and Society, Director of the Centre for New and Emerging Markets, and Deputy Dean (Faculty and Research). Publications include Privatisation in Central and Eastern Europe; Foreign Direct Investment into Transition Economies; Investment Strategies in Emerging Markets, and numerous papers in scholarly journals. He was visiting Professor at Stanford University, Michigan Business School, Cornell University, European University Institute, and is a Fellow of the Centre for Economic Policy Research (CEPR), Institute for the Study of Labor (IZA) and William Davidson Institute. GRZEGORZ W. KOLODKO is a key architect of Polish reforms. In 1989 he took a part in historical Round Table negotiations leading to the first post-communist government in East Central Europe. While Deputy Premier and Minister of Finance (1994-97) he led Poland to the OECD. Holding the same positions again in 2002-03 he played an important role in Poland's integration with the European Union. He is the founder and Director of TIGER - Transformation, Integration and Globalization Economic Research - at the Kozminski Business School in Warsaw, Poland. He is a university professor, researcher, advisor, consultant to international organizations, and a columnist. He is author of numerous academic books and research papers on post-communist transition and development policy, including From Shock to Therapy: The Political Economy of Postsocialist Transformation, Globalization and Catching Up in Transition Economies, The Polish Miracles: Lessons for Emerging Markets, and The World Economy and Great Post-Communist Change. Professor Kolodko is a marathon runner and world traveler who has explored 130 countries. MILICA UVALIC is Professor of Economics at the Department of Economics, Finance and Statistics, Faculty of Political Sciences, University of Perugia, Italy. She is a Member of the United Nations Committee for Development Policy. She is a Former President and Vice-President of EACES, and was previously Assistant Minister for Foreign Economic Relations in the first post-Milosevic government of FR Yugoslavia. She was also Researcher and Research Fellow at the European University Institute, Florence, Italy. Born in Belgrade, she has a BA and MA in Economics from the Belgrade University, a Graduate Diploma in International Relations from the University of Florence, Italy, and a PhD in Economics with 'special mention' from the European University Institute, Florence, Italy. She has been consultant to the EU Commission, ILO, UNDP, UNESCO, National Bank of Yugoslavia, and other institutions. Publications include seven monographs, including Investment and Property Rights in Yugoslavia and The PEPPER Report, and nine co-edited books, including Impediments to the Transition in Eastern Europe (with E. Espa and J. Lorentzen); Privatisation Surprises in Transition Economies (with D. Vaughan-Whitehead), Equality, Participation, Transition (with V. Franicevic), and Transition in Central European Initiative Countries: Lessons Learned (with D. Mario Nuti). She has also published over 130 articles, recently focusing on transition in Southeast and Central Eastern Europe.
