Classification of Post-Soviet Countries by the Level of Socio-Economic Development

Abstract:

The process of transition of 15 post-Soviet republics from the centrally-controlled economy to a market economy was accompanied by fundamental changes in their political, economic and social life. As a result of cluster analysis of 15 post-Soviet countries, 3 groups were defined, and during the last three periods the proportion and filling of groups is the same, which indicates stabilization of the cluster. Those post-Soviet countries that had strong natural and human capital in the beginning of the transition, have achieved significant success and integrated into the global economy. The Baltics also stand out: these countries have joined the European Union and significantly improved their macroeconomic indicators.

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