In this latest product of a lengthy study a team of American academics provides a thoughtful analysis of the interaction of political and economic features in countries that are changing major parts of their economic systems or making other large adjustments. They take account of the flow of ideas as well as the pressures of creditor and economic conditions. The authors' awareness of the comparative experience of different countries guards them against oversimplification and permits them to upset many of the easy generalizations of conventional wisdom. For example: liberalizing an economy may require strengthening a bureaucracy; the advancement of democracy may not go hand in hand with the introduction of a market system.
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