Though it is still to early to assess the final outcome of transformat
ion in Central and Eastern Europe, since 1995 there is a growing perce
ption that the transition process is by and large completed in Central
Europe and even in Eastern Europe. This is not yet the case where Rus
sia is concerned. It is not just that the process began later; what ha
ppened there is still percieved as confusing and unclear, and hence gi
ves way to very contrasting judgements. Hence emphasis is put on Russi
a in the following review essay. (C) 1996 Academic Press, Inc.