The Economics of Transition

ANDREW BERG Chief of the Development Issues Division, Policy Development and Review Department, International Monetary Fund, USA TITO BOERI Professor of Economics, Bocconi University, Italy EDUARDO BORENSZTEIN Formerly with the Research Department, International Monetary Fund, USA ERIC FRIEDMAN Associate Professor of Operations Research, Cornell University, USA ROMAN FRYDMAN Professor of Economics, New York University, USA CHERYL GRAY Director, Poverty Reduction and Economic Management Department, Europe and Central Asia Region, World Bank, USA MARK HESSEL Formerly Associate Professor of Management, Graduate School of Business, Fordham University, USA HEHUI JIN Financial Analyst, Quantifi Inc., USA SIMON JOHNSON Ronald A. Kurtz Professor, Sloan School of Management, MIT, USA DANIEL KAUFMANN Director, Global Programmes, World Bank, USA DALIA MARIN Chair, International Economics, University of Munich, Germany ERIC MASKIN Alfred O. Hirschman Professor of Social Science, Institute for Advanced Study, Princeton University, USA JOHN MCMILLAN Johnathan B. Lovelace Professor of Economics, Graduate School of Business, Stanford University, USA YINGYI QIAN Professor of Economics, University of California, Berkeley, USA ANDRZEJ RAPACZYNSKI Daniel G. Ross Professor of Law, Columbia Law School, USA RATNA SAHAY Western Hemisphere Department, International Monetary Fund, USA MONIKA SCHNITZER Professor of Economics, University of Munich, Germany DANIEL TREISMAN Professor of Political Science, University of California, Berkeley, USA BARRY R. WEINGAST Senior Fellow, Hoover Institute, Stanford University, USA CHRISTOPHER WOODRUFF Associate Professor of Economics and Director, Center for U.S.-Mexican Studies, University of California, San Diego, USA.