Journal Article

The hidden transformation: the changing role of the state after the collapse of communism in Central and Eastern Europe

Oskar Kowalewski and Krzysztof Rybinski

in Oxford Review of Economic Policy

Published on behalf of The Oxford Review of Economic Policy Ltd

Volume 27, issue 4, pages 634-657
Published in print December 2011 | ISSN: 0266-903X
Published online December 2011 | e-ISSN: 1460-2121 | DOI: https://dx.doi.org/10.1093/oxrep/grr030
The hidden transformation: the changing role of the state after the collapse of communism in Central and Eastern Europe

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  • National Government Expenditures and Related Policies
  • Financial Institutions and Services
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  • Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
  • Socialist Institutions and their Transitions

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This article reviews the state’s role in the transition economies of Central and Eastern Europe. Among the countries, Poland is perceived as the leader because it was the first economy to emerge from the decline following the transition, as well the only EU member state to survive the crisis without a recession. This success is often attributed to the high quality of government. However, we show that this popular perception is false and that state malfunctions on numerous fronts may soon impede Polish growth prospects. In Poland, the only bright spot is the quality of the financial supervision, which should serve as a role model for other countries. We attribute the malfunctions to the EU accession period that resulted in an unchecked growth of the government and contributed to the weakening of political and legal institutions.

Keywords: transition economies; government; regulations; fiscal policy; financial system; E50; E60; G18; G20; H50; P30

Journal Article.  10353 words.  Illustrated.

Subjects: National Government Expenditures and Related Policies ; Financial Institutions and Services ; Monetary Policy, Central Banking, and the Supply of Money and Credit ; Financial Regulation ; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook ; Socialist Institutions and their Transitions

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