Ten years of transition Stiglitz's criticism and counterarguments

Abstract

IMF supports the transition process in most ex-socialist countries through concessionary financing, recommendations for economic policy and technical assistance. Results vary across countries and have been analyzed by a number of authors. In this context, some authors have dealt with the IMF's "guilt" Stiglitz's criticism having struck the most responsive chord in public triggering violent reactions. The paper deals with the key hypotheses of this criticism as well as the main counter arguments