The System Transformation of the Transition Economies: Europe, Asia, and North Korea

balance banking system Belarus budget Cambodia capital markets cent central bank centrally planned China Chinese competition complementarity Czech Republic deficit domestic Doowon dummy Eastern Europe Eastern European countries EBRD economic reform economic system Estonia exchange rate Expenditure export fast-reforming fiscal foreign investment law former Soviet Union gradual growth household Hungary important incentives increased industrial sector inflation institutions investment funds investors Johnson Kim Jung Il Laos lessons Lithuania macroeconomic managers market economy market-oriented mass privatization McMillan monetary Myanmar Naughton North Korea North Korean economy output ownership percent performance planned economies Poland political private sector privatization policies privatization program production rapid Real GDP reform measures restructuring result reunification Revenue role Russia share significant social socialist SOES Soviet Union state-owned enterprises state-owned firms strategy structure subsidies system transformation Table trade transition economies Vietnam voucher privatization World Bank Yonsei University