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Some Reflections on Transition: Its Roots, Complexity of the Process, and Role of the IMF and Other Organizations

In: The Palgrave Handbook of Comparative Economics

Author

Listed:
  • Vito Tanzi

    (Honoraty President, International Institute of Public Finance)

Abstract

This chapter has four sections. The first provides some historical background on central planning and the early debate on whether it could work in the real world. The second deals with the period between the 1940s and the 1980s when the Russian experiment was considered successful and the Soviet Union became a world power and a challenge to the West. The third discusses when central planning began showing its weaknesses and the transition started. This period led to growing contacts with the Western world and with the need, on the part of Russia and other centrally planned countries, for financial and technical assistance. Various international organizations and foreign governments provided assistance. A concluding section discusses some of the problems encountered in this phase.

Suggested Citation

  • Vito Tanzi, 2021. "Some Reflections on Transition: Its Roots, Complexity of the Process, and Role of the IMF and Other Organizations," Springer Books, in: Elodie Douarin & Oleh Havrylyshyn (ed.), The Palgrave Handbook of Comparative Economics, edition 1, chapter 15, pages 369-387, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-50888-3_15
    DOI: 10.1007/978-3-030-50888-3_15
    as

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