Globalization and Economic Diversification: Policy Challenges for Economies in Transition

The transition countries in Eastern and South-Eastern Europe and Central Asia were hit harder than any other region in the world by the global recession of 2008–2009. Economic recovery started in the second half of 2009, but—for most of these economies—the crisis made it painfully clear that the transition from a centrally planned to an open market economy brought about new prosperity making it sensitive to global economic shocks. This publication aims to answer fundamental questions and policy options to address the challenges for economies in transition. It includes comparative studies focusing on transition economies, including Central and Eastern Europe, as well as regions such as the Western Balkans and the Commonwealth of Independent States.