Abstract
This chapter concentrates more directly on welfare than the transition. Only if the transformations fulfil certain conditions of political acceptability will the momentum of the reform process be sustained and with it the growth it should eventually foster. A particularly simple model (Balcerowicz, 1995) suggests that the electorate’s critical faculties are suspended for a predetermined period after the fall of communism and that anything could be done during the opening of this ‘window of opportunity’ (see also Chapter 6 in this volume).
I am indebted to my colleague C.M. Davies of Wolfson College, Oxford, for directing me to much of the data presented in this chapter.
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References
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© 1998 International Economic Association
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Flemming, J.S. (1998). Welfare in Economic Transition. In: Lin, J.Y. (eds) Contemporary Economic Issues. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-26723-1_7
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