Erik Berglöf - Crisis in Eastern Europe: The People's Perspective (3/4)

The video discusses the evolution of transition economies from communism to market economies and democracies, highlighting the challenges they face due to the Western crisis. It emphasizes the importance of institutional reforms, social safety nets, and financial systems in mitigating the impact of economic shocks. The video also explores survey findings on the weakening support for democracy and markets, particularly in Central and Eastern Europe.

What are the implications of weakening support for democracy in countries that have made significant progress?

In what ways did the financial system contribute to the economic challenges faced by Eastern European countries?

How can the lessons learned from the transition economies inform future economic policies?