Publisher's Synopsis
Takes forward the examination of economic development that was provided in the "Transition Report", published in November 1996. The general picture presented is of slightly slower growth in Eastern Europe and the Baltics and of continued output falls in much of the Commonwealth of Independent States, although some of the smaller CIS states are starting to see growth. Despite the progress made in market-orientated transition in eastern Europe and the Baltics, significant challenges remain in deepening reforms, maintaining stability and adapting institutions and behaviours so that the investment climate is further enhanced. In particular,the building and strengthening of capital markets and the commercialization of infrastructure are of importance.
