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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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File URL: http://www.sciencedirect.com/science/article/B6W5H-4GWBDXV-1/2/db8c884a65aa4acc7bf5fc166c804462
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Bibliographic Info

Article provided by Elsevier in its journal 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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  1. Gauche, Jerry N., 1998. "Binary economic modes for the privatization of public assets," The Journal of Socio-Economics, Elsevier, vol. 27(3), pages 445-459.
  2. Marek Dabrowski & Stanislaw Gomulka & Jacek Rostowski, 2001. "Whence reform? A critique of the stiglitz perspective," Journal of Policy Reform, Taylor and Francis Journals, vol. 4(4), pages 291-324.
  3. Ashford, Robert, 1996. "Louis Kelso's binary economy," The Journal of Socio-Economics, Elsevier, vol. 25(1), pages 1-53.
  4. 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.
  5. J. Stiglitz, 1999. "Whither Reform? Ten Years of the Transition," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 7.
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Cited by:
  1. James Stanfield & Michael Carroll, 2009. "The Social Economics of Neoliberal Globalization," Forum for Social Economics, Springer, vol. 38(1), pages 1-18, April.
  2. AlHussaini, Wissam & Molz, Rick, 2009. "A post-Keynesian regulatory model of privatization," The Journal of Socio-Economics, Elsevier, vol. 38(2), pages 391-398, March.

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