Russia and Commonwealth of Independent States
Making transition work for everyone: poverty and inequality in Europe and Central Asia
Safety nets, accountability, and more jobs needed to reduce poverty in transition economies
Authors:
C. Jones; A.| Revenga
Publisher:
World Bank, 2000
This book, published by the World Bank, examines the striking increases in poverty and inequality in the transition economies of Europe and Central Asia during the 1990s, and considers policy actions needed to address this issue. Virtually all transition economies experienced a collapse in economic output in the initial years of transition, but the drop was much sharper and recovery slower in some countries than others. The book argues that incomplete market reforms, high levels of bureaucratic corruption, and the capture of national governments by powerful business elites account for some of the major differences in poverty and inequality outcomes.
Identifying policy actions needed to reduce poverty in transition economies, the book highlights the need to foster institutions at the community, local, and national level that are accountable and inclusive to all parts of society. It argues that these will provide the foundation for functioning democratic societies, good governance and shared economic growth. Economic growth that generates productive work and leads to a rise in real wages is also vital to poverty reduction. Sustaining such growth in turn depends on completing reforms and building open and competitive markets, with adequate safeguards where markets may fail.
