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Стратегии Институциональных Реформ: Перспективные Траектории
[Institutional Reform Strategies: Promising trajectories]

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  • Polterovich, Victor

Abstract

This is the first part of the research devoted to the problem of the choice of institutional reform strategies. A strategy is defined as a planned trajectory of institutional changes in time. Three types of strategies are compared: shock therapy, gradual growing, and interim institution strategy. A concept of a promising trajectory is introduced; this is a trajectory that has good chances to be successful since it meets a number of requirements. A promising trajectory has to be agreed with technological, resource and institutional constraints, and should provide built-in mechanisms to stimulate planned institutional changes and to prevent dysfunctions and institutional traps. In particular, such a trajectory has to take into account national cultural peculiarities, static and dynamic institutional complementarities, and political decision making mechanisms. It is necessary to restrain redistributive activities and envisage compensations to those who could lose due to reforms. Institutional changes have to be supported by measures directed to form positive institutional expectations, and by government policies stimulating economic growth. In the second part of the work, proposed analytical tools are implemented to compare reforms in Russia and China.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 22000.

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Date of creation: 2006
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Publication status: Published in Economics and Mathematical Methods 1.42(2006): pp. 3-18
Handle: RePEc:pra:mprapa:22000

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Keywords: institutional reforms; institutional reform strategies; promising trajectory; economic transition;

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  1. Daniel Berkowitz & Karina Pistor & Jean-Francois Richard, 2001. "Economic Development, Legality, and the Transplant Effect," William Davidson Institute Working Papers Series 410, William Davidson Institute at the University of Michigan.
  2. Daron Acemoglu & Philippe Aghion & Fabrizio Zilibotti, 2003. "Vertical Integration and Distance to Frontier," Journal of the European Economic Association, MIT Press, vol. 1(2-3), pages 630-638, 04/05.
  3. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2002. "Institutions Rule: The Primacy of Institutions over Geography and Integration in Economic Development," NBER Working Papers 9305, National Bureau of Economic Research, Inc.
  4. Hillman, Arye L. & Swank, Otto, 2000. "Why political culture should be in the lexicon of economics," European Journal of Political Economy, Elsevier, vol. 16(1), pages 1-4, March.
  5. 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.
  6. Aron, Janine, 2000. "Growth and Institutions: A Review of the Evidence," World Bank Research Observer, World Bank Group, vol. 15(1), pages 99-135, February.
  7. Yingyi Qian, 1999. "The Institutional Foundations of China's Market Transition," Working Papers 99011, Stanford University, Department of Economics.
  8. Sato, Kazuo, 1990. "Indicative planning in Japan," Journal of Comparative Economics, Elsevier, vol. 14(4), pages 625-647, December.
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