For ten years, the countries of Central and Eastern Europe and the former Soviet Union have been transitioning to economies based on market principals. While there has been some success in this process, most of the Commonwealth of Independent States (Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, the Kyrgyz Republic, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan) continues to grapple with weak economies, low public confidence, and political instability. This study reviews the transition efforts of four of these countries - Albania, Azerbaijan, Kyrgyz Republic, and Moldova, in order to develop recommendations, which may benefit these and other countries in future transition efforts. Unfortunately, these countries have been unable to overcome obstacles such as war, banking crises, and pyramid schemes to achieve any sustainable success in terms of growth or poverty reduction. Further, the study suggests that significant additional investment and time is required for these countries to achieve success.
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