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Post-Communist Reform: Pain and Progress

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Author Info

  • Olivier Jean Blanchard

    ()
    (MIT)

  • Maxim Boycko
  • Marek Dabrowski

    ()
    (Center for Social and Economic Research)

  • Rudiger Dornbusch
  • Richard Layard

    ()
    (London School of Economics)

  • Andrei Shleifer

    ()
    (Harvard University)

Abstract

In their earlier report, Reform in Eastern Europe, the WIDER group assessed the main building blocks of a successful transition in Eastern Europe: stabilization, price liberalization, privatization, and restructuring. For the last three years this group of leading economists has been heavily involved in the reform process. In this new report, they take stock, returning to the original themes and assessing progress and prospects, particularly in Russia. Stabilization in the major Central European countries was done very much by the book. Russia, in contrast, is following a path of restructuring without stabilization. The authors discuss how far this alternative strategy is likely to get. Turning to privatization, they note that initial plans started from the assumption that the state owned the assets. As slow progress of those plans has painfully shown, this was the wrong assumption. They point out that assets have in fact many de facto claimants, from managers to workers to local authorities to ministries, and discuss how the current Russian privatization program starts and builds up from this more realistic assessment. In the face of a collapse of trade in Eastern Europe, triggered by reform in Central Europe and a similar collapse between republics following the breakup of the Soviet Union, the authors show how simple measures such as a payments union can be used to increase trade and output. Post-Communist Reform concludes with a look at restructuring in Poland. The authors focus on the behavior of the state, the growth of the private sector, the role of financial systems, and the coherence of overall government policy, ending on a note of cautious optimism.

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Bibliographic Info

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This book is provided by The MIT Press in its series MIT Press Books with number 0262023628 and published in 1993.

Volume: 1
Edition: 1
ISBN: 0-262-02362-8
Handle: RePEc:mtp:titles:0262023628

Contact details of provider:
Web page: http://mitpress.mit.edu

Related research

Keywords: poland; eastern europe; government policy; post-communism; russia;

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Citations

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Cited by:
  1. J. David Brown & John S. Earle, 2007. "The Productivity Effects of Privatization in Ukraine: Estimates from Comprehensive Manufacturing Firm Panel Data, 1989–2005," Upjohn Working Papers and Journal Articles 07-137, W.E. Upjohn Institute for Employment Research.
  2. J. David Brown & John Earle & Almos Telegdy, 2004. "Does Privatization Raise Productivity? Evidence from Comprehensive Panel Data on Manufacturing Firms in Hungary, Romania, Russia, and Ukraine," CERT Discussion Papers 0410, Centre for Economic Reform and Transformation, Heriot Watt University.
  3. Prof. Dr. Robert Holzmann, 1994. "Funded and Private Pensions for Eastern European Countries in Transition?," Public Economics 9405004, EconWPA.
  4. J. David Brown & John Earle & Almos Telegdy, 2005. "The Productivity Effects of Privatization: Longitudinal Estimates from Hungary, Romania, Russia, and Ukraine," CERT Discussion Papers 0508, Centre for Economic Reform and Transformation, Heriot Watt University.
  5. Marek Dabrowski & Oleksandr Rohozynsky & Irina Sinitsina, 2004. "Post-Adaptation Growth Recovery in Poland and Russia - Similarities and Differences," CASE Network Studies and Analyses 0280, CASE-Center for Social and Economic Research.
  6. J. David Brown & John Earle & Scott Gehlbach, 2008. "Helping Hand or Grabbing Hand? State Bureaucracy and Privatization Effectiveness," CERT Discussion Papers 0806, Centre for Economic Reform and Transformation, Heriot Watt University.
  7. Lawrence Peter King, 1999. "The Developmental Consequences of Foreign Direct Investment in the Transition from Socialism to Capitalism: The Performance of Foreign Owned Firms in Hungary," William Davidson Institute Working Papers Series 277, William Davidson Institute at the University of Michigan.
  8. Brown, J. David & Earle, John S., 2006. "The microeconomics of creating productive jobs : a synthesis of firm-level studies in transition economies," Policy Research Working Paper Series 3886, The World Bank.
  9. Lawrence P. King, 2003. "Explaining Postcommunist Economic Performance," William Davidson Institute Working Papers Series 2003-559, William Davidson Institute at the University of Michigan.
  10. Alexander Radygin, 2013. "PRIVATISATION IN RUSSIA: Hard Choice, First Results, New Targets," Published Papers 174, Gaidar Institute for Economic Policy, revised 2013.
  11. Patrick Hamm & David Stuckler & Lawrence King, 2010. "The Governance Grenade: Mass Privatization, State Capacity and Economic Growth in Post-communist Countries," Working Papers wp222, Political Economy Research Institute, University of Massachusetts at Amherst.
  12. Rosefielde, Steven, 2004. "An abnormal country," BOFIT Discussion Papers 15/2004, Bank of Finland, Institute for Economies in Transition.
  13. Lawrence King & Patrick Hamm, 2005. "Privatization and State Capacity in Postcommunist Society," William Davidson Institute Working Papers Series wp806, William Davidson Institute at the University of Michigan.
  14. Marek Dabrowski, 1993. "Two Years of Economic Reforms in Russia. Main Results," CASE Network Studies and Analyses 0009, CASE-Center for Social and Economic Research.
  15. John Marangos, 2004. "Was Shock Therapy Consistent with Democracy?," Review of Social Economy, Taylor & Francis Journals, vol. 62(2), pages 221-243.

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