Publication

This paper evaluates whether the special attention given to the problems of countries in transition – those with formerly centrally planned economies – is justified. The paper suggests that the potential characteristics of economies in transition are in general related to the level of development or income per capita. The results of the author's research confirm this observation. The paper concludes that even after 10 years, most countries in transition are still very much recognizable as such due to higher share of employment in industry, higher energy use and a more extensive physical infrastructure.