A COMPARATIVE-ANALYSIS OF 28 TRANSITION ECONOMIES IN EUROPE AND ASIA

Two senior world Bank economists provide a broad comparative overview of transition economies, covering the former Soviet Union, East Centra l Europe, China, and Vietnam. In the process, they assess the experien ce of each of the 20 European and 8 Asian countries up to 1996, focusi ng on the wide variation in exposure to economic and political liberal ization and distinguishing growing and recovering economies from the l agging. Based on recent measures of key macroeconomic indicators, the authors' classification and analysis embrace the impact of specific fa ctors (e.g., different duration and intensity of reforms; exposure to regional tensions) on economic growth and inflation. Also included in the study is a comparison of inter-industry linkages and macroeconomic feedback in Russia and China. 9 figures, 8 tables, 25 references.