18/11/2009 3:13:25 pm
In WSJ: "Eastern Europe′s Lesson for the West." In today′s Wall Street Journal Europe, Nima Sanandaji and I have an op-ed that counters some flawed assumptions about reforms in Eastern Europe during the crisis:

"During the economic and financial crisis, many have argued that the reforms in Eastern and Central Europe during the past two decades went too far. They deregulated and opened up too much, and hence suffered badly as the crisis hit. So the critics claim.

While several countries in this region have indeed been hit by a severe downturn, this has been more a result of overheating than structural reforms. Moreover, as the world moves out of the recession, the investment climate in these countries will appear very attractive. And in the midst of the crisis, these countries are continuing their previous reform agenda, making them even more competitive."

Read the article here - >