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Reforms in Eastern Europe and the Former Soviet Union in Light of the East Asian Experiences

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  • Jeffrey Sachs

Abstract

During the past five years, there has been an important international debate over the style of market reforms in the former centrally planned economies of East Asia, Eastern Europe, and the former Soviet Union. The economic performance across regions, summarized in Table 1, could not be more disparate, with rapid economic growth and low inflation in the East Asia transition economies, compared with sharp declines in GDP and high inflation in Eastern Europe and the Former Soviet Union (hereafter combined as EEFSU). This disparity has given rise to a plethora of theories about the underlying differences in the two regions, ranging over cultural, political, and economic factors.

Suggested Citation

  • Jeffrey Sachs, 1995. "Reforms in Eastern Europe and the Former Soviet Union in Light of the East Asian Experiences," CASE Network Studies and Analyses 0039, CASE-Center for Social and Economic Research.
    • Handle: RePEc:sec:cnstan:0039
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    References listed on IDEAS

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    1. Alwyn Young, 1993. "Lessons from the East Asian NICs: A Contrarian View," NBER Working Papers 4482, National Bureau of Economic Research, Inc.
    2. Alwyn Young, 1992. "A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore," NBER Chapters, in: NBER Macroeconomics Annual 1992, Volume 7, pages 13-64, National Bureau of Economic Research, Inc.
    3. Fernandez, Raquel & Rodrik, Dani, 1991. "Resistance to Reform: Status Quo Bias in the Presence of Individual-Specific Uncertainty," American Economic Review, American Economic Association, vol. 81(5), pages 1146-1155, December.
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    Cited by:

    1. Cason, Timothy N. & Mui, Vai-Lam, 2005. "Uncertainty and resistance to reform in laboratory participation games," European Journal of Political Economy, Elsevier, vol. 21(3), pages 708-737, September.
    2. Philip R. Lane, 2003. "The International Community and the CIS-7," Trinity Economics Papers 20033, Trinity College Dublin, Department of Economics.
    3. Jan Svejnar & Joanna Tyrowicz & Lucas van der Velde, 2015. "Productivity and Inequality Effects of Rapid Labor Reallocation – Insights from a Meta-Analysis of Studies on Transition," Working Papers 2015-11, Faculty of Economic Sciences, University of Warsaw.
    4. Elena Danilova, 2017. "Actual and Perceptual Social Inequality under Transformative Change in Russia and China," Europe-Asia Studies, Taylor & Francis Journals, vol. 69(1), pages 27-52, January.
    5. Joanna Tyrowicz & Lucas Velde & Jan Svejnar, 2017. "Effects Of Labor Reallocation On Productivity And Inequality—Insights From Studies On Transition," Journal of Economic Surveys, Wiley Blackwell, vol. 31(3), pages 712-732, July.

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