I asked this question on the Short answers to simple questions thread, so I will just copy my whole question from there.
I recently read Tony Judt's book Postwar: A history of Europe since 1945 and I have a question regarding the economic transition of former socialist countries.
On page 690 of the book there is the following paragraph:
Instead, foreign investment resembled not the sustained post-World War Two effort that helped reconstruct Western Europe but rather the piecemeal privatesector involvement that had followed the Versailles settlement: invested in good times and withdrawn when the going got tough.15 As in the past, therefore, eastern Europeans have had to compete with the West on a markedly uneven playing field, lacking local capital and foreign markets and able to export only low-margin foods and raw materials or else industrial and consumer goods kept cheap thanks to low wages and public subsidy.
And this is the footnote 15 at the bottom of the page:
15 A notable exception to this story is Estonia, which has benefitted hugely from its virtual adoption by its Scandinavian neighbours. In 1992, when it left the ruble zone, 92 percent of Estonia's trade was with the former Soviet Union. Five years later over three quarters of that trade was with the West, much of it across the Baltic.
My question is are there any books that someone could recommend me that look into the question of economic transition of different European countries? Or perhaps just a book about economic transition of Estonia and how it differed compared to other countries?
For Hungary I could recommend the books of János Kornai, a Hungarian economist. He describes the late-stage socialism and it's transition pretty well.
These days, the works by Ivan T. Berend are generally considered the standard introductory works in economic history on the post-Soviet/transitional Central European economies.
You might find these to be of interest:
From the Soviet Bloc to the European Union: The Economic and Social Transformation of Central and Eastern Europe Since 1973; Cambridge University Press, 2009
An Economic History of 20th Century Europe; Cambridge University Press, 2006
Central and Eastern Europe 1944–1993: Detour from the Periphery to the Periphery; Cambridge University Press, 1996