Economic Transition: Speed and Scope
AbstractThis paper reviews and discusses the pace and direction of the transformation of formerly socialist economies into market economies. It points out the lack of credibility of slow reforms as well as the dangers of a radical big-bang approach. The article recommends a gradual transition, starting with a rapid entry of private industry into commerce and light industry, followed by the gradual privatization of the more capital intensive industries, while keeping the government in charge of restructing legal and financial institutions and in the management of declining industries.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 156 (2000)
Issue (Month): 1 (March)
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Web page: http://www.mohr.de/jite
Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Find related papers by JEL classification:
- P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General
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- Hagemann, Harald, 2004. "The macroeconomics of accession: growth, convergence and structural adjustment," Structural Change and Economic Dynamics, Elsevier, vol. 15(1), pages 1-12, March.
- Dobler, Constanze & Hagemann, Harald, 2011. "Economic growth in the post-socialist Russian Federation after 1991: The role of Institutions," Violette Reihe Arbeitspapiere 34/2011, Promotionsschwerpunkt "Globalisierung und Beschaeftigung".
- Kirdina, Svetlana, 2012. "From Marxian school of economic thought to system paradigm in economic studies: the institutional matrices theory," MPRA Paper 42998, University Library of Munich, Germany.
- Randolph Luca Bruno, 2003. "Speed of Transition, Unemployment Dynamics and Nonemployment Policies: Evidence from the Visegrad Countries," LEM Papers Series 2003/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Svetlana Kirdina, 2012. "From Marxian School Of Economic Thought To System Paradigm In Economic Studies: The Institutional Matrices Theory," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(2), pages 53-71.
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