Using the case of Russia and Eastern Europe since 1991, analyze the primary hurdles confronting states that hope to make the transition to market-based economies

Fill in the blank with the appropriate word.
What recommendations would you make to countries that are currently transitioning based on your assessment?
What will be an ideal response?

Ideal Answer: The ideal answer should:
1. Outline what challenges Russia and Eastern Europe faced in transitioning to market-based economies.
2. Compare and contrast state-ownership economies and market-based economies.3. Explain the particular obstacles that a nation transitioning to a market-based economy might face, including civil unrest, corruption, the growth of plutocratic culture, and unstable state infrastructure and installations.
4. Outline the policies that would aid countries in making a successful transition, includingan emphasis on a strong and fair rule of law, expanding civil rights and liberties,, and innovating industry.
5. Offer a concise summary and effective conclusion.