Informal economy and corruption in transition economies

Towards the end of the ⅩⅩ century, as a result of the stagnation in the Soviet Union, there were years when the Soviets avoided interfering with the internal affairs of the communist regimes in Central and Eastern Europe, which were defined as satellite states, and focused on their own internal problems. These regimes, which were occupied by the Soviets at the end of the Second World War and then survived with the military support of the Soviets, collapsed one by one at the end of the century in the late 1880s. In December 1991, the Union of Soviet Socialist Republics was officially dissolved. As a result of all this, the transition from central planning to a market economy has been difficult. Transition Economies performance fell short of expectations for several reasons. It was thought that the economic performance of these countries would soon reach the level of developed western countries, the economic problems related to the transition were largely underestimated, the country's politicians made a few questionable elections. This paper presents the strategies and results of transition economies in the first decades and outlines the main challenges faced by these economies. The transition process of these economies has been evaluated through the informal economy, corruption, transparency and corporate governance data.