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The Economics of Post-Communist Transition - Oxford Scholarship Online
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The Economics of Post-Communist Transition

Olivier Blanchard


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. Six years after the beginning of transition, most of the countries of Central Europe now seem firmly on the upside. Most of the countries of Eastern Europe are still close to the bottom of the U; an optimistic view is that they are now negotiating the turn.

Keywords: Central Europe, decline, distortion, Eastern Europe, economic system, output, post‐communist countries, recovery, transition, U‐shaped curve

Bibliographic Information

Print publication date: 1998 Print ISBN-13: 9780198293996
Published to Oxford Scholarship Online: November 2003 DOI:10.1093/0198293992.001.0001


Affiliations are at time of print publication.

Olivier Blanchard, author
Massachusetts Institute of Technology
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