Laurila, Juhani () (BOFIT) Singh, Rupinder () (BOFIT)
Abstract
The aim is to review transition literature for evidence that supports sequential reform strategy, as presented in this report. The second part discusses the findings in the context of Azerbaijan, a formerly socialist transition economy with interesting initial conditions. Evidence of the country's current need to focus on improving public services fits well with the sequential reform view. The authors argue that constraints captured by initial conditions (human resources, administrative capacities, traditions, etc.) necessitate sequencing of reforms and outline general aspects of a sequential reform strategy designed to expedite the transition process. The literature survey supports the Washington Consensus recommendations for starting transition with macroeconomic reforms, but over time initial conditions inevitably constrain and necessitate sequencing. In other words, reform efforts initially need to be directed across the widest possible front, but later in transition the emphasis of reform efforts needs to shift from one area to another. In the later stages, emphasis needs to be laid on improvement of public sector governance to support and promote macroeconomic reforms and formation of a healthy corporate sector. Democratic institutions arise with economic growth generated by the corporate sector.
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Publisher Info
Paper provided by Bank of Finland, Institute for Economies in Transition in its series BOFIT Discussion Papers with number
8/2000.
Length: 79 pages Date of creation: 23 Aug 2000 Date of revision: Handle: RePEc:hhs:bofitp:2000_008
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Find related papers by JEL classification: F35 - International Economics - - International Finance - - - Foreign Aid K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General N00 - Economic History - - General - - - General P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert Vishny, 1998.
"The Quality of Goverment,"
NBER Working Papers
6727, National Bureau of Economic Research, Inc.
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