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You're reading: After 18 years of transition: are we there yet?

Other former socialist countries like Hungary and Poland started their transition in 1989. The Czech Republic and Slovakia stepped on the path of socialist-capitalist transition in 1990.

Overall, the former Soviet countries and the former satellites of the USSR started their economic transitions in almost the same period of time. Nonetheless, former socialist countries have achieved different levels of economic development since then.

To measure a level of economic development, we can look at per capita GDP (measured in 2005 purchasing power parity (PPP) dollars) compiled by the World Bank.

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