About the book
Following independence in 1991, the Republic of Moldova experienced one of the largest and longest-lasting losses of productive capacity among transition economies. The crisis, associated with a severe decline in manufacturing and agricultural activities, lasted throughout the 1990s and spurred an exodus of the working age population. An economic recovery started in the early 2000s and continued throughout the decade, largely fuelled by migrants’ remittances and services. The economy also proved resilient to the recent global crisis, though output remains below its pre-independence level.