Achieving Rapid Growth in the Transition Economies of Central Europe

In the wake of the Cold War, the nations of Central Europe faced the monumental task of transitioning from centrally planned economies to market-driven systems. Jeffrey Sachs and Andrew M. Warner analyze this historic transformation, offering a comprehensive exploration of the strategies, challenges, and outcomes that defined rapid economic growth in this region. Drawing upon detailed case studies and a wealth of empirical data, the authors illuminate the interplay between policy choices and growth trajectories, while dispelling myths about the inevitability of hardship in economic transitions. Their work serves as a crucial guide for policymakers, economists, and business...