Fiscal Policy and Capital Formation in Transition Economies


SUMMARY In the 199Os the transition economies of Eastern Europe and the former Soviet Union have suffered significant recession and persistent imbalances. Over ten years of vast changes GDP has contracted significantly and income inequality increased, too. In several countries post-socialist depression still continues. Whereas in the best example, that is Poland, GDP in 1999 is at about 12O percent of pre-transition level of 1989, in the countries involved in…
Professor Grzegorz W. Kolodko -- a key architect of Polish reforms -- is a renowned economist and a world expert on transition and development policy. While Deputy Premier and Minister of Finance (1994-97) he led Poland to the OECD. Holding the same positions again in 2002-03 he played an important role in Poland's integration with the European Union. In 1989 he was participating in the historical Polish Round Table, which led to the first post-communist government in East Central Europe. In 1989-91 he was the member of Economic Council of the Government. A graduate and Ph.D. of Warsaw School of Economics (SGH), he is currently Director of TIGER - Transformation, Integration and Globalization Economic Research (www.tiger.edu.pl) and professor at the Leon Kozminski Academy of Entreprenurship and Management in Warsaw (WSPiZ). The United Nations, IMF and the World Bank have sought Professor Kolodko expertise. He has accepted invitations for visiting professorships at Yale, UCLA and the University of Rochester, New York, as well as research fellowships and lectures at academic institutions and organizations worldwide. He is the author of 35 books and over 300 articles and research papers that are published in 23 languages around the globe, of which a majority is available in English. Professor Kolodko is a marathon runner and world traveler who has explored 125 countries.
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