On the concept of transition
AbstractThis article tries to reassess the meaning of transition. After a critical review of the traditional approach, it is argued that meaningful transition requires emphasis on the change of the institutional path-dependent process. In this light, the issue of transition may also apply to the West. Put differently, the notion of transition is here referred to broader context than that acknowledged by the orthodox views, and now includes the dynamics of power, the attitude towards risk and uncertainty within a civilization and also ideology. It is maintained that changes depend heavily on the opportunities for rent seeking, which may be enhanced or stifled by technological progress or other exogenous events.
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Bibliographic InfoPaper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number 15-2000.
Length: 23 pages
Date of creation: Nov 2000
Date of revision:
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