As the world marketplace becomes ever more globalized, much is at stake for the prosperity of hundreds of millions of people in Europe and Central Asia as the region's transition process continues through its second decade. Understanding the underlying dynamics shaping the contours and most salient impacts of international integration that have emerged - and likely to emerge prospectively - in the region is thus a crucial challenge for the medium term economic development agenda, not only for policymakers in the countries on themselves, but also for their trading partners, the international financial institutions, the donor community and the future of the world trading system as a whole. This book addresses this challenge. The study finds that a hallmark of the transition from communism to capitalism in Europe and Central Asia (ECA) and the disintegration of the Soviet trade bloc is the region coming "full circle" - albeit not ending up where it started - reintegrated into...

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