Advanced Search
MyIDEAS: Login to save this article or follow this journal

A Post-Keynesian Approach to the Transition Process

Contents:

Author Info

  • John Marangos

    ()
    (Department of Economics, Colorado State University)

Abstract

The historical experience of the successful postwar reconstruction of Western Europe, which was based upon Keynesian principles, totally contradicts the policies implemented in transition economies. Those countries that opted for price level adjustments during postwar reconstruction faced major hyperinflations. Although the economic conditions of transition economies could be argued to approximate the postwar reconstruction of Western Europe, during the period of reconstruction of Western Europe, price ceilings and subsidies were maintained and economic planning was implemented. Monetary and fiscal reforms and policies were adopted and the European Payments Union was established with the aim of restoring trade among countries. Exchange rates were controlled and capital flows restricted, and the US provided financial and technical support under the Marshall Plan. Lastly, markets were influenced and guided by an active state with the aim of supporting the initiatives of firms. The state was able to implement these policies only under a consensus process, which encouraged cooperation rather than conflict.

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://college.holycross.edu/RePEc/eej/Archive/Volume30/V30N3P441_465.pdf
Download Restriction: no

Bibliographic Info

Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

Volume (Year): 30 (2004)
Issue (Month): 3 (Summer)
Pages: 441-465

as in new window
Handle: RePEc:eej:eeconj:v:30:y:2004:i:3:p:441-465

Contact details of provider:
Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA
Phone: (201) 684-7346
Email:
Web page: http://www.ramapo.edu/eea/journal.html
More information through EDIRC

Related research

Keywords:

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Turhan, Ibrahim M., 2008. "Why did it work this time: a comparative analysis of transformation of Turkish economy after 2002," MPRA Paper 31158, University Library of Munich, Germany.
  2. Lino Sau, 2012. "Evolution of China's financial system and its impact on economic development," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, Inderscience Enterprises Ltd, vol. 5(1), pages 1-15.
  3. Iwasaki, Ichiro & Suzuki, Taku, 2014. "Radicalism versus Gradualism: A Systematic Review of the Transition Strategy Debate," RRC Working Paper Series, Russian Research Center, Institute of Economic Research, Hitotsubashi University 45, Russian Research Center, Institute of Economic Research, Hitotsubashi University.

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:eej:eeconj:v:30:y:2004:i:3:p:441-465. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross).

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.