Ten years of transition: a review article

Ten years after the launching of the transition process, many books and reports are offering a balance sheet of the transformation that occurred in Central and Eastern Europe and in the former Soviet Union area. The review article looks at some of them, particularly at Grzegorz W. 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 countries, and was the recession inevitable? Second, due to the dire criticisms of the standard policy applied in these countries, dubbed the "Washington consensus", has a "post-Washington consensus" emerged? Third, as we are already engaged in the second decade of the transition process, can we state when it is bound to be over, and what role is played by the European Union enlargement in acceleratings the end of transition? (C) 2000 The Regents of the University of California. Published by Elsevier Science Ltd. All rights reserved.