ABSTRACT
This chapter aims to assess the progress of selected transition economies in east central Europe (ECE) and the Baltic States. It presents an assessment of transition progress within the parameters identified by the major international financial institution, namely the World Bank and the European Bank for Reconstruction and Development (EBRD). The dictionary definition of transition is a change from one state to another. In the context of recent development in ECE and the Baltic States, the change in state is from a Soviet-type socialist economic system towards some form of market-based economic system. To assess the relative progress of the transition economies one must have a benchmark against which to judge the performance of individual states. The chapter draws an attention to some of the commonalities of reform policies and progress, identifying general patterns and setting the transition from socialism in a wide regional context.
