From Shock to Therapy

• A broad-ranging study of thirty transition economies
• A convincing alternative to conventional policies based on the Washington Consensus
• Contains policy recommendations and economic forecasts based on the author's practical experience of authoring reform in Poland

Readership: Economists and political scientists; academics working on Eastern Europe, the former Soviet Union, and China; financiers, bankers, and investors involved in emerging markets

Grzegorz W. Kolodko, Professor of Economics and Economic Policy, Warsaw School of Economics; Professor of Political Science, University of Rochester

"worth having in one's library" - SEER, Vol.79, No.3

"this is one of the best treatments of the transformation process thus far available" - SEER, Vol.79, No.3

"His [Kolodko] analysis of the old system and where it went wrong under the megalomaniacal dominance of Soviet leaders is a valuable contribution to our understanding of the past and present in the region" - SEER, Vol.79, No.3

"provides a highly readable and sensible critique of the so-called 'Washington consensus' on the recipe for transformation of former Soviet-type economics" - SEER, Vol.79, No.3

Introduction
1: Transition from socialism: where to?
2: Different points of departure
3: Systemic change and economic performance
4: Transitional recession: expectations, reality, interpretations
5: The Washington Consensus revisited
6: Transition policy and development strategy
7: Transition from plan to market
8: Financial reform and policy
9: The redistribution of the costs and benefits of transition
10: Marketization and democratization
11: From recovery to sustained growth
12: The internationalization of postsocialist economies
13: The long-term prospects
14: Doubts and conclusions