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Is There an Austrian Approach to Transition?

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  • Colombatto, Enrico
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    Abstract

    This paper discusses the meaning of the term "transition" and its implications for policy making. It is suggested that an Austrian view would enhance a better understanding of what has been happening in Central and Eastern Europe in the past decade. Within this framework, the analysis should be based on three criteria: acquisition of knowledge, individual responsibility, free entry. It concludes that future transition analysis should devote more attention to the way a number of subjectivistic features drive institutional change, as well as to the features of the new opportunity sets made available to individuals. Copyright 2002 by Kluwer Academic Publishers

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    Bibliographic Info

    Article provided by Springer in its journal Review of Austrian Economics.

    Volume (Year): 15 (2002)
    Issue (Month): 1 (January)
    Pages: 61-74

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    Handle: RePEc:kap:revaec:v:15:y:2002:i:1:p:61-74

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    Web page: http://www.springerlink.com/link.asp?id=100335

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    Cited by:
    1. Jürgen Wandel, 2011. "Business groups and competition in post-Soviet transition economies: The case of Russian “agroholdings”," The Review of Austrian Economics, Springer, vol. 24(4), pages 403-450, December.
    2. Alexander Libman, 2006. "Government-Business Relations and Catching Up Reforms in the CIS," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 3(2), pages 263-288, December.

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