This book investigates the critical role of accounting and financial system reforms in the successful transition of economies from centrally planned to market-based systems. Authored by Robert W. McGee, a recognized expert in accounting and financial systems, this work draws upon extensive research and case studies from various transition economies. It presents a comprehensive framework for understanding the challenges and opportunities associated with reforming these complex systems, arguing that robust accounting and financial infrastructure are foundational for sustainable economic growth and stability.

This book is regarded as a significant contribution to the literature on economic transition, offering a detailed examination of the interplay between accounting practices and financial system development. Its analysis is particularly valuable for policymakers and academics seeking to understand the structural changes required for economies moving towards market principles. The work provides a solid foundation for further research into the specific challenges and solutions within diverse transitional contexts.