ABSTRACT
A large number of publications has been devoted to the theory of economic transformation, and experiences accumulated by a large group of countries, which have embarked upon the issue of transition from command to market economies. However, though we know today much more about this process than ten years ago there are still serious difficulties in understanding the nature of this process, optimal economic policies and even assessments of economic transformation efficiency in different post-socialist states. Moreover, in a sense, we can speak now of a kind of ‘ossification’ of basic approaches to market transition, which is manifested in a clear division of scholars between the proponents and opponents of the Washington consensus paradigm.
