Creating Capitalism: Using Growth Models to Assess Transition
AbstractFive generic reforms, price liberalization, property privatization, macroeconomic stabilization, microeconomic restructuring and trade liberalization, are integrated into both exogenous and endogenous growth models. This integration allows one to assess the implications of each reform for a representative consumer. If one assumes that in assessing a prospective reform each voter, given his unique characteristics and circumstances, acts as if he were the representative consumer, then this framework allows one to evaluate quantitatively the prospects of each reform for each distinct group. This model can be used to forecast how different voters, young-old, flexible-rigid, working-retired, taxpayer-transfer recipient, will respond to each proposal. This can in turn be used to determine the likelihood of success of a democratic polity in transition to capitalism.
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Bibliographic InfoPaper provided by Claremont Colleges in its series Claremont Colleges Working Papers with number 2001-16.
Date of creation: Jul 2001
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transition; reforms; exogenous growth models; endogenous growth models;
Find related papers by JEL classification:
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
- D90 - Microeconomics - - Intertemporal Choice - - - General
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
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