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| List of Tables and Figures | |
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| List of Abbreviations | |
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| Acknowledgments | |
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| Introduction: A World Transformed | |
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| Overview of the Arguments of This Book | |
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| Communism and Its Demise | |
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| Real Socialism | |
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| Decline and Fall of Socialism | |
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| The Demise of Communism in Central Europe | |
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| The Collapse of the Soviet Union | |
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| Shock Therapy versus Gradualism | |
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| The Radical Reform Program: A Big Bang | |
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| Gradual Reform Programs | |
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| Rent Seeking: The Scourge of Transition | |
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| Criticism of Radical Reform after the Russian Financial Crash | |
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| Output: Slump and Recovery | |
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| Sharp Decline in Recorded Output and Varied Recovery | |
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| Exaggeration of the Slump | |
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| Radical Reform: Least Decline and Early Recovery | |
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| Late Reformers: Surged after 1998 | |
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| Liberalization: The Creation of a Market Economy | |
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| Two Strategies of Deregulation | |
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| Liberalization of Foreign Trade | |
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| Labor Market Policy | |
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| Combat of Monopoly: Gas and Coal | |
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| A Big Bang: Vital in Deregulation | |
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| From Hyperinflation to Financial Stability | |
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| Establishing National Currencies | |
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| Radical Fiscal Adjustment Was Key | |
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| Tax Policy: From Social Democratic to Liberal | |
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| Monetary Policy: From Loose to Strict | |
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| Exchange Rates: Currency Board or Free Float | |
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| Dramas of Financial Stabilization | |
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| Privatization: The Establishment of Private Property Rights | |
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| Differing Aims of Privatization | |
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| Small-Scale Privatization: If Started, Swiftly Done | |
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| Large-Scale Privatization: The Biggest Headache | |
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| Privatization of Land, Real Estate, and Housing | |
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| New Enterprise Development: The Ultimate Success | |
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| Great Achievements of Privatization | |
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| Vital: Speed and Legitimacy of Property Rights | |
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| An Inefficient Social System | |
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| Incomes: Differentiation and Poverty | |
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| Life and Health | |
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| Education Adjusting to Demand | |
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| Social Transfers and Pension Reform | |
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| Three Alternative Social Models | |
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| Democracy versus Authoritarianism | |
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| Democratic Breakthrough: Critical for Successful Transformation | |
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| An Underreform Trap | |
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| Renewed Democratization: Colored Revolutions | |
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| Parties, Electoral Rules, and Constitutions | |
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| How to Tame the Leviathan: Reform of the Communist State | |
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| Public Opinion and Ideology | |
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| Democracy and Democracy Aid | |
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| From Crime toward Law | |
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| An Explosion of Crime | |
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| Attempts at Building a Legal System | |
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| Corruption: The Bane of Transition | |
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| The Role of Oligarchs | |
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| Who Are the Oligarchs? | |
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| The Economics of Oligarchy | |
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| The Politics of Oligarchy | |
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| Complaints: A Matter of Ideology | |
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| A Question of Property Rights | |
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| Putin's Alternative: Centralized Dictatorship | |
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| The Impact of the Outside World | |
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| The Dream of Europe | |
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| Western Failure to Act in the East | |
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| Trade Policy: A Gulf between the EU and the CIS | |
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| International Assistance: Insufficient but Crucial | |
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| Conclusions: A World Transformed | |
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| Five Models | |
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| Achievements and Revelations | |
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| Why Certain Polices Worked and Others Did Not | |
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| Bibliography | |
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| Index | |