Hazel Gray is a lecturer at the Centre of African Studies at the University of Edinburgh. Her research covers the comparative political economy of development, industrial policy, and economic transformation. Previously she worked at the London School of Economics and at SOAS. She worked as an economist at the Ministry of Finance in Tanzania and has been a lead author for Tanzania's UNDP Human Development Report.

This impressive and innovative book uses a political settlements framework to shed light on the very different trajectories of two socialist developing countries transitioning to 'market economies.' Its analysis of the relationships between institutions, ideologies, productive capabilities and organizational structures provides many important insights on the political economy of growth and governance.

• 1: Economic transformation in a comparative perspective 2: The 'Old' and 'New' of New Institutional Economics 3: Political Settlement and Economic Transformation 4: The Forging and Unravelling of a Socialist Politicial Settlement 5: Corruption and Political Order 6: Turbulent Property Rights 7: The Challenges of Industrial Policy 8: Conclusion

Hazel Gray is a lecturer at the Centre of African Studies at the University of Edinburgh. Her research covers the comparative political economy of development, industrial policy, and economic transformation. Previously she worked at the London School of Economics and at SOAS. She worked as an economist at the Ministry of Finance in Tanzania and has been a lead author for Tanzania's UNDP Human Development Report.

This impressive and innovative book uses a political settlements framework to shed light on the very different trajectories of two socialist developing countries transitioning to 'market economies.' Its analysis of the relationships between institutions, ideologies, productive capabilities and organizational structures provides many important insights on the political economy of growth and governance.

• 1: Economic transformation in a comparative perspective 2: The 'Old' and 'New' of New Institutional Economics 3: Political Settlement and Economic Transformation 4: The Forging and Unravelling of a Socialist Politicial Settlement 5: Corruption and Political Order 6: Turbulent Property Rights 7: The Challenges of Industrial Policy 8: Conclusion

Hazel Gray is a lecturer at the Centre of African Studies at the University of Edinburgh. Her research covers the comparative political economy of development, industrial policy, and economic transformation. Previously she worked at the London School of Economics and at SOAS. She worked as an economist at the Ministry of Finance in Tanzania and has been a lead author for Tanzania's UNDP Human Development Report.

This impressive and innovative book uses a political settlements framework to shed light on the very different trajectories of two socialist developing countries transitioning to 'market economies.' Its analysis of the relationships between institutions, ideologies, productive capabilities and organizational structures provides many important insights on the political economy of growth and governance.

• 1: Economic transformation in a comparative perspective 2: The 'Old' and 'New' of New Institutional Economics 3: Political Settlement and Economic Transformation 4: The Forging and Unravelling of a Socialist Politicial Settlement 5: Corruption and Political Order 6: Turbulent Property Rights 7: The Challenges of Industrial Policy 8: Conclusion