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New structural economics meets European transition

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  • Erik Berglof

Abstract

This paper explores whether new structural economics, and more broadly Structuralist approaches, could add to our understanding of transition in Central and Eastern Europe – and ultimately asks whether new structural economics and transition economics might be extended or integrated into a dynamic model of structural transformation that could better account for this particular development experience and provide policy guidance for the future. We have presented three perspectives – new structural economics, transition economics and the Neo-Schumpetarian approach – all of them emphasising different aspects of structural transformation. Their relative explanatory power depends on the context – for example, the extent of distortions in the economy, the quality of the institutions and where a country finds itself relative to the world technology frontier – and the questions we are interested in understanding. We suggest that, to date, the Neo-Schumpetarian approach offers the most promising and persuasive story line to think about this difficult challenge.

Suggested Citation

  • Erik Berglof, 2015. "New structural economics meets European transition," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 18(2), pages 114-130, April.
    • Handle: RePEc:taf:jecprf:v:18:y:2015:i:2:p:114-130
    DOI: 10.1080/17487870.2015.1013543
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    Cited by:

    1. Opeyemi Idowu ALUKO, 2015. "Political Economy of Crony Capitalism: The Prospect and the Bane," Journal of Economics Library, KSP Journals, vol. 2(3), pages 192-197, September.
    2. Stuart Shields, 2020. "The EBRD, fail forward neoliberalism and the construction of the European periphery," The Economic and Labour Relations Review, , vol. 31(2), pages 230-248, June.
    3. Botrić Valerija & Broz Tanja, 2016. "Competitiveness, Trade with the EU and Labour Markets: Challenges for the Western Balkans," South East European Journal of Economics and Business, Sciendo, vol. 11(2), pages 20-32, December.

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