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The fall of communism 25 years ago transformed the political and economic landscape in more than two dozen countries across Europe and Asia. In this volume, political leaders, academics and policy makers assess the lessons learned from the 'great rebirth' of capitalism and identify successful policy strategies and tactics to help countries make the transition to stable and successful market economies. The book also discusses examples of countries that have reverted to political and economic authoritarianism. The authors of these essays conclude that the best results were achieved by leaders who had the vision and willingness to take bold steps to privatise state-owned enterprises and deregulate. However, the recent setbacks in Russia and Hungary cast a shadow over the legacy of the transition period that began a quarter century ago. The idea for the book came together in Budapest on 6-7 May 2014 during a two-day symposium of experts and practitioners who reflected on the past and future of reforms.

The publication was made with the financial support of ICU.