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Present at the Transition Warps of History, Wefts at Choice
from Part IV - Outcomes and Prospects
Published online by Cambridge University Press: 04 May 2020
This chapter concludes with five main stylized facts. First the extent of reform progress and socioeconomic performance diverged considerably in three decades, with many countries essential completing reforms, but a few only slightly changed from the communist period. Second, in all post-communist countries, the levels of income and living standards are an improvement over the socialist period. Third, the most advanced reformers have gone a long way to catch-up to the EU, with incomes two to three times higher. Four, all countries saw a new capitalist class emerge, but, in the former USSR, a new super-rich group of oligarchs emerged and exerted great political power. Fifth, corruption has been reduced significantly in the advanced reformers, many now within the EU sphere, but persists at very high levels farther East.
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