Publications - Working Papers IER SAS

While in the Western Europe market economy had developed several centuries, in the Central and Eastern European countries (CEECs) the transition has been undertaken in a considerably shorter time. Although, the long-term objectives of CEECs were similar, discrepancies arose in each country as regards the priorities, order and pace of the reforms to be undertaken. The paper aims to analyse transition of the Slovak economy during the last two decades and compare the development of Slovakia with the rest of the CEECs and three benchmark “Western” European countries. The impact of the political cycle and development of main macroeconomic indicators is being analysed. The paper concludes with lessons from Slovakia for political economy and large-scale transformation of institutions.