The Economics of Transition

The end of the Cold War saw an unprecedented number of countries changing economicpolicies at the same time. One result has been the emergence of a new field of economics,postcommunist transformation theory. Written by prominent Russian analysts, the essays in this bookdiscuss the economic policy problems that confront postcommunist countries. Most chapters focus onliberalization of the exchange rate and trade system, macroeconomic stabilization, and institutionalreform. They also look at various policy options that have been pursued and their results.Underlying the book is the assumption that the transition to a market economy is both irreversibleand the best path to sustained growth in Russia.