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the Transition from Planned to Market Economy . World Bank, Washington, D.C. Milanovic B. Income, Inequality and Poverty during the Transition from

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The aim of the study is to prove that agents organised by market forces tend to create and even more so deepen economic disparities over time. Empirical studies do not reliably describe the trend and causes of interpersonal global inequality in recent decades. Hence, the attention is turned to general economic theory with inspiration from Schumpeterian and neoclassical theories. The results indicate that pure market economy logic will tend to lead to multi-level divergence.

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. Globalization and Catching-up in Transition Economies 2002 Kolodko, Grzegorz W. (ed.) (2003): Emerging Market Economies

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Nissinen, M. (1999): Latvia's Transition to Market Economy: Political Determinants of Economic Reform Policy. London: Macrnillan Press. Latvia's Transition to Market Economy: Political Determinants of Economic

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is situated in the Southeast Europe on the Balkan Peninsula. According to the World Bank's classification, Bulgaria has an emerging market economy in the upper-middle income range, where the private sectors account for more than 80% of the gross

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. Kornai , J. ( 2012 ): Központosítás és kapitalista piacgazdaság [Centralization and the Capitalist Market Economy] . Népszabadság , 28.1.2012, weekend supplement: 1 ; 6 – 9 . Krémer , B

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. Åslund , A. ( 2009 ): How Ukraine Became a Market Economy and Democracy . Washington, D.C. : Peterson Institute for International Economics . Åslund , A

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Economy to Market Economy . London : Macmillan . Martimort , D. ( 1996 ): The Multiprincipal Nature of Government . European Economic Review , 40 : 673 – 685

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and Russian Banks: Results from Competing Panel Data Models – Super–1 . Macroeconomics and Finance in Emerging Market Economies , 68 ( 1 ): 88 – 113 . McKinnon , R. I

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. ( 1997 ): Equilibrium Exchange Rates in Transition Economies . IMF Staff Papers, December. Halpern , L. and Wyplosz , Ch. (eds) ( 1998 ): Hungary: Towards a Market Economy . Cambridge

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