...Grzegorz W. Kolodko 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...

.... Kolodko’s book published in 2000, “From Shock to Therapy. The Political Economy of Postsocialist Transformation”. On the basis of this book and of some recent contributions, three major issues are discussed. First, why has there been such a recession in the beginning of the transition process in all...