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Abstract
Many Western economists were rapturous about the prospects for Eastern Europe’s transition to rapid growth and solid democracy once the Berlin Wall fell in 1989. The march to capitalism was to be paved with gold. Most of the nations did poorly. Here is the disappointing scorecard.
Notes
Polity, downloadable at http://www.systemicpeace.org/polity/polity4.htm, is a database that empirically studies characteristics of political regimes, including democracy.
Additional information
Notes on contributors
Branko Milanovic
Branko Milanovic is presidential professor at the Graduate Center–City University of New York and senior fellow at the Luxembourg Income Study. He was lead economist in the World Bank Research Department for almost twenty years and senior associate at the Carnegie Endowment for International Peace in Washington. Milanovic’s main area of work is income inequality, in individual countries and globally. He has published articles in Economic Journal, Review of Economics and Statistics, and Journal of Political Philosophy. His most recent book is The Haves and the Have-nots: A Brief and Idiosyncratic History of Global Inequality (2011), selected by The Globalist as 2011 Book of the Year.