The Transition Report 2008 offers an in-depth analysis of economic progress in 28 countries from central Europe to central Asia. It draws on the European Bank for Reconstruction and Development’s experience as one of the largest investors in the transition region.The report provides a comprehensive analysis of the transition from centrally planned to market economies.This year’s report looks closely at the emergence of global pressures on prices, the tensions created by this and how policy-makers can respond to them.

2008’s Transition Report offers a comprehensive study of economic progress, with a focus on growth and how this can be sustained. Issues covered include a review of the emergence of global pressure on prices and liquidity in recent years and as a consequence the creation of short-term uncertainties.The book reports on the tensions arising from the global strain on prices and how policy-makers should respond; examines the longer-term challenges to sustaining economic growth; analysis reveals how growth prospects are driven by fundamental factors such as human capital, market competition and physical infrastructure; outlines the need for countries to diversify production and trade to sustain growth; country-by-country assessments of the latest progress in structural reform and macroeconomic developments; and analysis is complemented by detailed economic data covering GDP, inflation, government expenditure and foreign direct investment.