Author(s): Sergei Guriev
Date published: Jan 2018
SUERF Policy Note, Issue No 24
by Sergei Guriev, European Bank of Reconstruction and Development
In order to find new sources of growth, post-communist countries need to accelerate structural reforms. However, the public support for reforms in these countries is limited. We show that this is explained by the lack of inclusion and fairness of transition from plan to market. While transition has brought higher income levels on average, the benefits of growth have not been shared broadly – and not always in a meritocratic way. Going forward, market reforms should take into account inclusion and governance aspects in order to reduce the risk of reform reversals.
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