The transition process in which a country moves from a planned economy to a market economy offers a unique opportunity for economists and policymakers to observe and understand the effects of major institutional, legal, and political changes on economic systems. But one feature of the process that has not been considered until now is when is the process over? When has a transition progressed far enough to ensure that a market system will survive and mature? Are there institutional, economic, and political standards that countries reach that measure the level of transition attained or, indeed, show that they have completed transition?https://research.upjohn.org/up_press/1190/thumbnail.jp
