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The Institutional Hiatus in Economies in Transition and Its Policy Consequences

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  • Kozul-Wright, Richard
  • Rayment, Paul
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    Abstract

    The collapse of Communism created an 'institutional hiatus' in the economies of eastern Europe and the Soviet Union because the old political and economic institutions were destroyed more rapidly than they could be replaced by those of a market economy. The importance and complexity of institution-building has been played down in the mainstream 'economists' consensus' which has presented a highly restricted set of policy options as the only route to a vibrant market economy. This paper argues that entrepreneurship provides a missing conceptual link between enterprise reform and the creation of market institutions. A number of measures for closing the institutional hiatus in transition economies are considered. Copyright 1997 by Oxford University Press.

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    Bibliographic Info

    Article provided by Oxford University Press in its journal Cambridge Journal of Economics.

    Volume (Year): 21 (1997)
    Issue (Month): 5 (September)
    Pages: 641-61

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    Handle: RePEc:oup:cambje:v:21:y:1997:i:5:p:641-61

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    Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
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    Cited by:
    1. Dimiter Philipov, 2002. "Fertility in times of discontinuous societal change: the case of Central and Eastern Europe," MPIDR Working Papers WP-2002-024, Max Planck Institute for Demographic Research, Rostock, Germany.
    2. Mary-Fran├žoise RENARD & Philippe DULBECCO, 1999. "Permanency and flexibility of institutions : the role of decentralisation in Chinese economic reforms," Working Papers 199924, CERDI.
    3. Richard Kozul-Wright & Paul Rayment, 2004. "Globalization Reloaded: An Unctad Perspective," UNCTAD Discussion Papers 167, United Nations Conference on Trade and Development.
    4. Boyko Nikolov & Nikolay Markov & Nasko Dochev & Dimitar Dimitrov & Rumyana Kolarova & Rumen Dobrinsky, 2004. "Understanding Reform: A Country Study for Bulgaria," wiiw Balkan Observatory Working Papers 056, The Vienna Institute for International Economic Studies, wiiw.

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