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The Transition According to Cambridge, Mass

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Author Info
Peter Murrell

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Abstract

This paper reviews the NBER's "The Transition in Eastern Europe." This book's 18 essays examine privatization, stabilization, fiscal policies, the nascent private sector, bankruptcy, foreign trade, and investment, etc. Individual country performance occupies six studies. These essays, which are of high quality, provide a cross-section of the literature on transition. However, the book's stronger conclusions are not supported by strong evidence. Two conclusions, unemphasized by contributors, emerge. Expectations, which reflect the theories used to design standard reforms, are often unfulfilled during reforms. A plausible explanation for the misplaced expectations is the ahistorical approach of those theories.

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Publisher Info
Article provided by American Economic Association in its journal Journal of Economic Literature.

Volume (Year): 33 (1995)
Issue (Month): 1 (March)
Pages: 164-178
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Handle: RePEc:aea:jeclit:v:33:y:1995:i:1:p:164-178

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  3. Bruce Kogut & Andrew Spicer, 2001. "Institutional Technology and the Chains of Trust: Capital Markets and Privatization in Russia and the Czech Republic," William Davidson Institute Working Papers Series 291, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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  9. John F. Tomer, 2002. "Intangible Factors in the Eastern European Transition: A Socio-Economic Analysis," Post-Communist Economies, Taylor and Francis Journals, vol. 14(4), pages 421-444, December. [Downloadable!] (restricted)
  10. Frank Wykoff, 2001. "Creating Capitalism: Politics, Reforms, and Economic Performance," Claremont Colleges Working Papers 2001-17, Claremont Colleges. [Downloadable!]
  11. Hans Aage, 1997. "Institutions and Performance in Transition Economies," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 24, pages 125-144. [Downloadable!]
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