The Economics of Post-Communist Transition

This book, by a distinguished economist who has worked on transition since its beginning, is one of the first to present a unified analysis of transition. Transition in Central and Eastern Europe has led to a U-shaped response of output, that is, a sharp decline in output followed by recovery. This U-shaped response, its causes and its implications, are the subject of this text. Blanchard analyses the basic mechanisms at work, and draws policy implications. The Economics of Post-Communist Transition is now available in paperback for the first time.