Economics of Institutional Change

1. Front Matter

   Pages i-xix

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2. Moving Away from the Command Economy in Central and Eastern Europe and the Former Soviet Union

   • Elodie Douarin, Tomasz Mickiewicz

   Pages 1-17

3. The Soviet System

   • Elodie Douarin, Tomasz Mickiewicz

   Pages 19-55

4. Institutions; Institutional Reform

   • Elodie Douarin, Tomasz Mickiewicz

   Pages 57-78

5. Political Economy of Reforms

   • Elodie Douarin, Tomasz Mickiewicz

   Pages 79-112

6. Stabilisation

   • Elodie Douarin, Tomasz Mickiewicz

   Pages 113-144

7. Outcomes of Reforms: Growth

   • Elodie Douarin, Tomasz Mickiewicz

   Pages 145-174

8. Privatisation: Speed, Efficiency, and Effects on Wealth Distribution

   • Elodie Douarin, Tomasz Mickiewicz

   Pages 175-204

9. Unemployment and Labour Market Policies

   • Elodie Douarin, Tomasz Mickiewicz

   Pages 205-226

10. Financial Liberalisation

    • Elodie Douarin, Tomasz Mickiewicz

    Pages 227-252

11. Public Finance

    • Elodie Douarin, Tomasz Mickiewicz

    Pages 253-278

12. Transition as Institutional Change

    • Elodie Douarin, Tomasz Mickiewicz

    Pages 279-296

13. Back to “Normality”?

    • Elodie Douarin, Tomasz Mickiewicz

    Pages 297-307

14. Back Matter

    Pages 309-319

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This book, a third edition, has been significantly expanded and updated. It revisits the process of institutional change: its characteristics, determinants and implications for economic performance. New chapters address the significance of Post-Communist transition, the differences and importance of initial conditions in institutional building, and, social norms, values, and happiness. Other chapters have been expanded to include, for example, a focus on the Washington consensus, commentary on the 2008 financial crisis, state capacity and corruption, and new findings on redistribution and inequality.

With specific focus on Central Europe, Eastern Europe and Central Asia, this revised edition examines the process of development, and its interdependence with institutions. 

• Communist transition
• Washington concensus
• Political economy of reform
• Reforms and growth
• Privatisation
• Unemployment and labour markets
• Financial liberalisation
• Public finance
• Institutional building
• Wellbeing
• development
• Eastern Europe
• economics
• efficiency
• employment
• labor market
• Privatization
• unemployment

• School of Slavonic and East European Studies, University College London, London, UK

  Elodie Douarin

• Aston Business School, Aston University, Birminghan, UK

  Tomasz Mickiewicz

Professor Tomasz Mickiewicz is a professor of Economics, and Head of the Economics, Finance and Entrepreneurship Group at Aston University, UK. He teaches on emerging and transitional economics, and his research interests include comparative entrepreneurship, social entrepreneurship, high growth aspiration entrepreneurship, informal economy, tax avoidance; foreign direct investment, and the applications of institutional theory to both entrepreneurship and international business. He has has published numerous journal papers and book chapters, and is currently Associate Editor of the journal Regional Studies.


Dr Elodie Douarin is Lecturer in Economics and is the Admissions Tutor for Economics and Business programmes at the School of Slavonic and East European Studies (SSEES), University College London, UK. She is a Development Economist with broad research interests and is currently working on the causes and cons
equences of conflict, aspects of political participation, migration and subjective wellbeing. She teaches on emerging markets, microeconomics, migration and health, development economics, and public choice.

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