Oleh Havrylyshyn is a research professor at the Institute of European, Russian, and Eurasian Studies at Carleton University, Ottawa. His recent books include The Political Economy of Independent Ukraine (2017) and Institutions Always Mattered: Economic Prosperity of Mediaeval Ragusa-Dubrovnik (2015).

• Introduction; Part I. The Diverse Paths Taken in Transition: 1. Review of key debates at the beginning; 2. Reforms and results of transition: first some facts; Part II. Choice of Strategy: Was it History? Politics? Or People?: 3. Historical legacies: hysteresis vs critical juncture; 4. Reform commitment of political leaders and populations; 5. The role of technocrats; 6. External incentives and pressures; Part III. Domestic Vested Interests and Reforms: 7. The old guard: politicians, technocrats, and red directors; 8. Formation of the oligarchs; 9. Corruption: pervasive, persistent and pernicious; Part IV. Outcomes and Prospects: 11. The transition tapestry: wefts of history, warps-at choice; 12. Quo vadis post-communa?: an epilogue.

'Oleh Havrylyshyn, an academic and a former policy maker, provides a fascinating account of the liberalizing transitions of former socialist countries. His unique knowledge allows him to present the basic facts and to unmask popular myths about the post-socialist transformations. He deals in a comparative way both with the economics of transition and with the political economy of this process. Writing clearly and elegantly, Havrylyshyn makes a very important contribution to a very important subject.' Leszek Balcerowicz, Warsaw School of Economics