Introduction

In 1989, the pretended solid system of centrally planned economy has collapsed. The revolutionary changes that started in Poland demolished the whole Soviet-style command economic system of Eastern Europe and the Soviet Union itself. Dramatic changes in the economic systems of these countries followed but the scientists were not prepared for such a moment: there was no valid theory of economic reform to rely on-as there was no such precedent. Within the empty space of the economic theory in this respect, the fall of communism has given way to a variety of strange, archaic, alternate and even “informal” and “parallel” forms of management and enterprise-as the entrepreneurial energy existed but it was not properly channelled (Dana and Dana 2003). As Aligica describes (2006), the raise of the new institutionalism is one of the most signifi cant reactions of the economic reform experience. A comprehensive World Bank Report (World Bank Report 2004) evaluates the World Bank assistance in 26 countries in Europe and Central Asia. After 1989, the transition countries “have undertaken massive reforms of their economic systems, transforming institutions, processes, attitudes, and fundamental concepts of individual and organisational behaviour”. Considering its complexity, the development of an “easy-tounderstand” but working model of economic transition is a considerable challenge.