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The shock therapy model of transition

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  • John Marangos

Abstract

The aim of this paper is to develop a comprehensive analysis of the shock therapy model of transition. As such the model requires an analysis of what I define as the primary elements: economic analysis, definition of a good society, speed, political structure, ideological structure and initial conditions. Also it is necessary to develop an appropriate mechanism of implementation, what I define as the secondary elements: price liberalisation-stabilisation, privatisation, institutional structure, monetary policy and the financial system, fiscal policy, international trade and foreign aid and social policy. In addition, there was a need for a strategy by which the reform program would be implemented. In the conclusion an assessment of the shock therapy model as a political strategy takes place.

Suggested Citation

  • John Marangos, 2007. "The shock therapy model of transition," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 1(1), pages 88-123.
    • Handle: RePEc:ids:ijepee:v:1:y:2007:i:1:p:88-123
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    Citations

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    Cited by:

    1. Yi Wen & George E. Fortier, 2019. "The visible hand: the role of government in China’s long-awaited industrial revolution," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 17(1), pages 9-45, January.
    2. C. Năsulea & D. F. Spînu & R. M. Moroianu, 2017. "The Polish Recipe," Вестник Киевского национального университета имени Тараса Шевченко. Экономика., Socionet;Киевский национальный университет имени Тараса Шевченко, vol. 3(192), pages 34-38.
    3. Nadezda Stanova, 2012. "Democratic learning and fiscal rules in the political budget cycles of the CEE countries," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 5(2), pages 168-182.

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