Политика Реформ, Начальные Условия И Трансформационный Спад
[Reform policies, initial conditions, and transformational recession]
AbstractIn this paper we formulate and substantiate a hypothesis that the magnitude of the transformational recession in transition economies in the last decade of 20th centaury was determined not only by initial pre-reformed conditions but also by privatization policies. Results of regression analysis that confirm this hypothesis are presented. It is shown that GDP decline during the first 9 years of reforms was the greater the more radical was privatization at the start of reforms. Our calculations also demonstrate that governments selected the starting speed of price and foreign trade liberalization taking into account initial conditions. This observation may explain the non-significance of the speed of liberalization in the regressions.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 21551.
Date of creation: 2006
Date of revision:
rate of privatization; liberalization indices; insignificance of the liberalization rate; shadow economy;
Other versions of this item:
- Катышев П.К. & Полтерович В.М., 2006. "Политика Реформ, Начальные Условия И Трансформационный Спад," Журнал Экономика и математические методы (ЭММ), Центральный Экономико-Математический Институт (ЦЭМИ), vol. 42(4), Ð¾ÐºÑÑÐ.
- P2 - Economic Systems - - Socialist Systems and Transition Economies
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.:
- Murrell Peter & Wang Yijiang, 1993. "When Privatization Should Be Delayed: The Effect of Communist Legacies on Organizational and Institutional Reforms," Journal of Comparative Economics, Elsevier, vol. 17(2), pages 385-406, June.
- Simon Johnson & Daniel Kaufman & Andrei Shleifer, 1997. "The Unofficial Economy in Transition," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(2), pages 159-240.
- Polterovich, Victor, 2000. "Civic Culture and Economic Transition in Russia," MPRA Paper 20068, University Library of Munich, Germany.
- Michael Alexeev & William Pyle, 2002.
"A Note on Measuring the Unofficial Economy in the Former Soviet Republics,"
Middlebury College Working Paper Series
0230, Middlebury College, Department of Economics.
- Michael Alexeev & William Pyle, 2001. "A Note on Measuring the Unofficial Economy in the Former Soviet Republics," William Davidson Institute Working Papers Series 436, William Davidson Institute at the University of Michigan.
- Roland, Gérard & Verdier, Thierry, 1997.
"Transition and the Output Fall,"
CEPR Discussion Papers
1636, C.E.P.R. Discussion Papers.
- Gerard Roland & Thierry Verdier, 1997. "Transition and the Output Fall," William Davidson Institute Working Papers Series 37, William Davidson Institute at the University of Michigan.
- Roland, G. & Verdier, T., 1997. "Transition and the Output Fall," DELTA Working Papers 97-09, DELTA (Ecole normale supérieure).
- Ratna Sahay & Jeromin Zettelmeyer & Eduardo Borensztein & Andrew Berg, 1999. "The Evolution of Output in Transition Economies - Explaining the Differences," IMF Working Papers 99/73, International Monetary Fund.
- Fischer, Stanley & Sahay, Ratna & Vegh, Carlos, 1996.
"Stabilization and growth in transition economies: The early experience,"
20631, University Library of Munich, Germany.
- Stanley Fischer & Ratna Sahay & Carlos A. Vegh, 1996. "Stabilization and Growth in Transition Economies: The Early Experience," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 45-66, Spring.
- S. Fisher & R. Sahay & C. A. Vegh, 1997. "Stabilization and Growth in Transition Economies: The Early Experience," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
- Stanley Fischer & Carlos A. VÃ©gh Gramont & Ratna Sahay, 1996. "Stabilization and Growth in Transition Economies - The Early Experience," IMF Working Papers 96/31, International Monetary Fund.
- Berta Heybey & Peter Murrell, 1999. "The relationship between economic growth and the speed of liberalization during transition," Journal of Policy Reform, Taylor and Francis Journals, vol. 3(2), pages 121-137.
- Derek C Jones, 1998. "The Economic Effects of Privatization: Evidence from a Russian Panel," Comparative Economic Studies, Palgrave Macmillan, vol. 40(2), pages 75-102, July.
- Sergio Godoy & Joseph Stiglitz, 2006. "Growth, Initial Conditions, Law and Speed of Privatization in Transition Countries: 11 Years Later," NBER Working Papers 11992, National Bureau of Economic Research, Inc.
- Castanheira, Micael & Roland, Gérard, 1996.
"The Optimal Speed of Transition: A General Equilibrium Analysis,"
CEPR Discussion Papers
1442, C.E.P.R. Discussion Papers.
- Castanheira, Micael & Roland, Gerard, 2000. "The Optimal Speed of Transition: A General Equilibrium Analysis," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(1), pages 219-39, February.
- Micael Castanheira De Moura & Gérard Roland, 2000. "The optimal speed of transition: a general equilibrium analysis," ULB Institutional Repository 2013/10011, ULB -- Universite Libre de Bruxelles.
- Vladimir Popov, 2000. "Shock Therapy Versus Gradualism: The End Of The Debate (Explaining The Magnitude Of Transformational Recession)," Comparative Economic Studies, Palgrave Macmillan, vol. 42(1), pages 1-57, April.
- Sachs, Jeffrey D, 1996. "The Transition at Mid Decade," American Economic Review, American Economic Association, vol. 86(2), pages 128-33, May.
- Kornai Janos, 1994. "Transformational Recession: The Main Causes," Journal of Comparative Economics, Elsevier, vol. 19(1), pages 39-63, August.
- Xavier Sala-i-Martin, 1997.
"I just ran four million regressions,"
Economics Working Papers
201, Department of Economics and Business, Universitat Pompeu Fabra.
- Krueger, Gary & Ciolko, Marek, 1998. "A Note on Initial Conditions and Liberalization during Transition," Journal of Comparative Economics, Elsevier, vol. 26(4), pages 718-734, December.
- Shleifer, Andrei, 1997.
"Government in transition,"
European Economic Review,
Elsevier, vol. 41(3-5), pages 385-410, April.
- Andrei Shleifer, 1996. "Government in Transition," Harvard Institute of Economic Research Working Papers 1783, Harvard - Institute of Economic Research.
- Anders Åslund & Peter Boone & Simon Johnson, 1996. "How to Stabilize: Lessons from Post -communist Countries," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1), pages 217-314.
- Merlevede Bruno, 2003.
"Reform reversals and output growth in transition economies,"
2003013, University of Antwerp, Faculty of Applied Economics.
- Bruno Merlevede, 2003. "Reform reversals and output growth in transition economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 11(4), pages 649-669, December.
- B. Merlevede, 2003. "Reform Reversals and Output Growth in Transition Economies," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 03/183, Ghent University, Faculty of Economics and Business Administration.
- Selowsky, Marcelo & Martin, Ricardo, 1997. "Policy Performance and Output Growth in the Transition Economies," American Economic Review, American Economic Association, vol. 87(2), pages 349-53, May.
- Peter Christoffersen & Peter Doyle, 2000. "From Inflation to Growth," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(2), pages 421-451, July.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If references are entirely missing, you can add them using this form.