Abstract:
Transformation of transition countries has meant new challenges and opportunities for socio-economic development. Looking back twenty-five year period from the start of the transformation process suggests that different speed, depth and quality of reforms have brought different results in economic performance and a different level of real convergence towards market economies in Europe. Common starting points and approaches to the transformation process based on neoliberal approaches did not always fully reflect the specific initial conditions, the development opportunities of individual economies and the tolerance of the speed of system changes. This has led to different levels of institutional complementarity in individual countries and currently significantly determines their development.
