The transitional recession in countries of Eastern Europe and the former Soviet Union has lasted much longer than expected. The legacy of the past and recent policy mistakes have both contributed to the slow progress. As structural reforms and gradual institution building have taken hold, the post-socialist economies have started to recover, with some leading countries building momentum toward faster growth. There is a possibility that in the wider context of globalization several of these emerging market economies will be able to catch up with the more advanced industrial economies in a matter of one or two generations. © 2001 Published by Elsevier Science Ltd on behalf of The Regents of the University of California.
Globalization and catching-up: from recession to growth in transition economies
This paper was written when the author was a Visiting Scholar in the Research Department and the Fiscal Affairs Department of the IMF. Grzegorz W. Kolodko—Professor at Warsaw School of Economics and Visiting Professor at the University of Rochester and UCLA—was Poland's Deputy Premier and Finance Minister in 1994–97. The views presented in this paper are the author's alone and should not be taken as representative of the IMF or the Polish government, or any other organization the author may be associated with. The author is currently Director of TIGER (Transformation, Integration and Globalization Economic Research at the Leon Kozminski Academy of Entrepreneurship and Management (WSPiZ) in Warsaw (www.tiger.edu.pl).
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Grzegorz W. Kolodko; Globalization and catching-up: from recession to growth in transition economies. Communist and Post-Communist Studies 1 September 2001; 34 (3): 279–322. doi: https://doi.org/10.1016/S0967-067X(01)00010-1
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