European Bank for Reconstruction and Development's Transition Report 2013
Jeromin Zettelmeyer, Peterson Institute
Anders Aslund, Peterson Institute
Peterson Institute for International Economics, Washington, DC
January 6, 2014
Jeromin Zettelmeyer, nonresident senior fellow at the Peterson Institute for International Economics (PIIE) and deputy chief economist of the European Bank for Reconstruction and Development (EBRD), presented the EBRD's Transition Report 2013 on January 6, 2014. PIIE Senior Fellow Anders Åslund provided an independent discussion following Zettelmeyer's presentation.
Reforms in most countries transitioning to market economy systems have stalled since the mid-2000s. Without a revival of reforms, living standards will remain below those in mature market economies. The 2013 Transition Report explores why resistance to reform is rooted in political, institutional, and human capital constraints. It shows that democracy has enabled reform by triggering improvements in economic institutions. Importantly, the Transition Report also assesses the extent of economic opportunities in transition countries compared to Western European benchmarks.