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The article asks the question why Russia missed the boat of successful transformation. All transformation countries experienced a transition crisis during the first two or three years. But then in Eastern Central Europe, particularly in Poland, a recovery period set in. In Russia the crisis turned into a ten year depression. Transformation analysis tries to identify the immediate causes for success...
Comparative evaluations across economic systems are often hampered by the typical valuation problem, that is, market prices have a different meaning than planned prices. This paper considers prices in the two Germanies and the widely accepted hypothesis that East German prices did not reflect relative scarcities as well as did West German prices. To test this hypothesis empirically, Seton's eigenprices...
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