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Recovery Growth as a Stage of Post-Socialist Transition

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  • Yegor T. Gaidar

Abstract

Unfolding in 3-7 years after the collapse of socialism, economic growth at its first stage has a recovery nature. It appears secured by a new system of market institutions that provide other than under socialism fundamentals allowing for a reorganization of economic relations and boosting volume of output of goods and services that enjoy effective demand. At the recovery growth stage, the post socialist governments' mission should be casting preconditions for the transition from recovery growth stage to investment-based growth, with the latter basing on capital investment and creation of new production capacities. The major challenge today is promotion of reforms to ensure a sustainable long-term growth, and laying down socioeconomic fundamentals of the post-industrial society. This determines the core of the ongoing transformation and the main challenge that almost all post-socialist countries will be facing over next decades.

Suggested Citation

  • Yegor T. Gaidar, 2005. "Recovery Growth as a Stage of Post-Socialist Transition," CASE Network Studies and Analyses 0292, CASE-Center for Social and Economic Research.
    • Handle: RePEc:sec:cnstan:0292
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    Cited by:

    1. International Monetary Fund, 2005. "Republic of Belarus: Selected Issues," IMF Staff Country Reports 2005/217, International Monetary Fund.
    2. Igor Pelipas & Alexander Chubrik, 2008. "Market Reforms and Growth in Post-socialist Economies: Evidence from Panel Cointegration and Equilibrium Correction Model," William Davidson Institute Working Papers Series wp936, William Davidson Institute at the University of Michigan.

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