Employing historical analysis and building on growth theory and
modern political economy, Dillon and Wykoff explain Soviet
disintegration and analyze efforts to create capitalism in newly
independent states. They show how five fundamental economic reforms
generate growth, and use an original model to test the connections
between reforms, elections and economic performance. The authors
examine the progress of six countries (Bulgaria, Czech Republic,
Estonia, Hungary, Russia and Slovakia) in terms of each country's
history and its successful application of the five reforms. Anyone
interested in how capitalism works and why pro-market reforms
encounter resistance in spite of their potential for generating
higher living standards will find this book essential reading.
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