Advanced Search
MyIDEAS: Login

The pitfalls of transition: Crowding out the "National Virtues"

Contents:

Author Info

  • Miljkovic, Dragan

Abstract

In this paper a view is advanced that explains why the transition to markets did not always lead to the outcomes predicted by the Washington Consensus type strategies. Institutional portfolio theory is used to define a myriad of interests and goals of a transition economy. A model is developed in which external intervention and increased external monitoring are shown to lead to lessening of the intrinsic motivation within transition economies to pursue the reforms as prescribed by Washington Consensus sometimes resulting in very slow growth rates or even a decline of the GDP.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.sciencedirect.com/science/article/B6W5H-4SJP7F2-1/2/56dadd3345504236e97e5601b584e8e4
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Elsevier in its journal The Journal of Socio-Economics.

Volume (Year): 37 (2008)
Issue (Month): 5 (October)
Pages: 2107-2113

as in new window
Handle: RePEc:eee:soceco:v:37:y:2008:i:5:p:2107-2113

Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/620175

Related research

Keywords: Economic transition External monitoring Institutional portfolio theory Washington Consensus;

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Roland Benabou & Jean Tirole, 2003. "Intrinsic and Extrinsic Motivation," Review of Economic Studies, Wiley Blackwell, vol. 70(3), pages 489-520, 07.
  2. Collier, Paul & Dollar, David, 2001. "Can the World Cut Poverty in Half? How Policy Reform and Effective Aid Can Meet International Development Goals," World Development, Elsevier, vol. 29(11), pages 1787-1802, November.
  3. World Bank, 2005. "Economic Growth in the 1990s : Learning from a Decade of Reform," World Bank Publications, The World Bank, number 7370.
  4. E. Fehr & John A. List, . "The Hidden Costs and Returns of Incentives - Trust and Trustworthiness among CEOs," IEW - Working Papers 134, Institute for Empirical Research in Economics - University of Zurich.
  5. Dani Rodrik, 2006. "Goodbye Washington Consensus, Hello Washington Confusion? A Review of the World Bank's Economic Growth in the 1990s: Learning from a Decade of Reform," Journal of Economic Literature, American Economic Association, vol. 44(4), pages 973-987, December.
  6. Frey, Bruno S & Oberholzer-Gee, Felix & Eichenberger, Reiner, 1996. "The Old Lady Visits Your Backyard: A Tale of Morals and Markets," Journal of Political Economy, University of Chicago Press, vol. 104(6), pages 1297-1313, December.
  7. Buchanan, James M., 1986. "The Constitution of Economic Policy," Nobel Prize in Economics documents 1986-1, Nobel Prize Committee.
  8. Miljkovic, Dragan, 2006. "Organizational portfolio theory and international not-for-profit organizations," The Journal of Socio-Economics, Elsevier, vol. 35(1), pages 142-150, February.
  9. Armin Falk & Michael Kosfeld, . "The Hidden Costs of Control," IEW - Working Papers 250, Institute for Empirical Research in Economics - University of Zurich.
  10. L Donaldson, 2000. "Organizational Portfolio Theory: Performance-Driven Organizational Change," Contemporary Economic Policy, Western Economic Association International, vol. 18(4), pages 386-396, October.
  11. Frey, Bruno S, 1993. "Does Monitoring Increase Work Effort? The Rivalry with Trust and Loyalty," Economic Inquiry, Western Economic Association International, vol. 31(4), pages 663-70, October.
  12. Dennis Mueller, 2005. "Constitutional political economy in the European Union," Public Choice, Springer, vol. 124(1), pages 57-73, July.
  13. Author-Name: Jeffrey D. Sachs & John W. McArthur & Guido Schmidt-Traub & Margaret Kruk & Chandrika Bahadur & Michael Faye & Gordon McCord, 2004. "Ending Africa's Poverty Trap," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 35(1), pages 117-240.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eee:soceco:v:37:y:2008:i:5:p:2107-2113

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.