The figure below is self-explanatory.
This is the cumulative real GDP growth in the former socialist countries (FSC) after
1990 (i.e. the past 25 years) as presented in the Total Economy Database. The most successful (>60%) countries are
Armenia, Azerbaijan, Belarus, Estonia, Kazakhstan, Poland, Slovakia,
Turkmenistan, and Uzbekistan. Three to four of them are recognized democracies
and the other five are under strong leadership (euphemism for pure economic
discussion). The absolute losers are
Tajikistan and Ukraine (the winner with -26.2%), Serbia and Montenegro, with
Moldova being still below the 1990 GDP level. All four countries have quite a
controversial political configuration. Other FSC are above the zero line ranging
from Croatia (4%), Kirgizia (7%) and Georgia (10%) to Latvia (55%), Bulgaria
(44%) and Slovenia (43%).
It is hard to deny the
general observation that strong leadership was able to create better economic
conditions for growth in the countries of the former Soviet Union, except
Baltic countries. Political turmoil is not creative, but we know it very well.
I would not invest in a country
without a stable political configuration.
Figure 1. The cumulative real GDP growth between 1990 and
2015 in the former socialist countries
Figure 2. The evolution of real GDP in the FSC
Un VPS Ilimitado y robusto. VPS Ilimitado
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