13/12/2004 5:20:12 pm
Reforms Work. In a piece at Tech Central Station, Fredrik Segerfeldt analyses the annual Transition Report from EBRD:
"A new comparison between the countries in East and Central Europe shows just how well economic reforms work. ... In this year?s report the Bank ranks 27 countries according to a transition index. The more reformed a country, the higher the ranking. The eight first positions are occupied by the post-communist countries that joined the EU earlier this year, headed by Hungary, the Czech Republic and Estonia. The three last positions are taken up by Turkmenistan, Belarus and Uzbekistan. As expected, income levels between these two categories of countries differ greatly. The average GDP per capita in the three most reformed countries is $14,800, compared to $4,500 for the three least reformed countries, about three times less. It cannot be stated more clearly. The faster a country leaves command economy structures behind, the better off its population is. Reforms work."
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