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The need for a new theory of economic reform

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  • Currie, Carolyn

Abstract

The recent debate between Dabrowski, Gomulka and Rostowski, (2001) and Stiglitz and Ellerman (2001) as to key fators determining the success or failure of policies of liberalisation and privatization, illustrates the need for a concise theoretical foundation as to how, when and where policies that change underlying economic structures can be applied. This paper outlines such a model, which is based on the perception of gradations in the process of development, and that the introduction of new ownership structures, market mechanisms and financing techniques are not necessarily solutions without providing for changes in economic, societal and legal infrastructures.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

Volume (Year): 34 (2005)
Issue (Month): 4 (August)
Pages: 425-443

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Handle: RePEc:eee:soceco:v:34:y:2005:i:4:p:425-443

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Web page: http://www.elsevier.com/locate/inca/620175

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References

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  1. J. Stiglitz, 1999. "Whither Reform? Ten Years of the Transition," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 7.
  2. Marek Dabrowski & Stanislaw Gomulka & Jacek Rostowski, 2000. "Whence reform? A critique of the Stiglitz perspective," LSE Research Online Documents on Economics 20167, London School of Economics and Political Science, LSE Library.
  3. Gauche, Jerry N., 1998. "Binary economic modes for the privatization of public assets," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 27(3), pages 445-459.
  4. Ashford, Robert, 1996. "Louis Kelso's binary economy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 25(1), pages 1-53.
  5. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
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Cited by:
  1. AlHussaini, Wissam & Molz, Rick, 2009. "A post-Keynesian regulatory model of privatization," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(2), pages 391-398, March.
  2. James Stanfield & Michael Carroll, 2009. "The Social Economics of Neoliberal Globalization," Forum for Social Economics, Taylor & Francis Journals, vol. 38(1), pages 1-18, January.
  3. James Stanfield & Michael Carroll, 2009. "The Social Economics of Neoliberal Globalization," Forum for Social Economics, Springer, vol. 38(1), pages 1-18, April.
  4. Hug March & David SaurĂ­, 2013. "The unintended consequences of ecological modernization: debt-induced reconfiguration of the water cycle in Barcelona," Environment and Planning A, Pion Ltd, London, vol. 45(9), pages 2064-2083, September.

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