IDEAS home Printed from https://ideas.repec.org/p/uts/wpaper/131.html
   My bibliography  Save this paper

The Need for a New Theory of Economic Reform

Author

Listed:
  • Carolyn Currie

Abstract

The recent debate between Dabrowski, Gomulka and Rostowski, (2001) and Stiglitz and Ellerman (2001) as to key fators determining the success or failure of policies of liberalisation and privatization, illustrates the need for a concise theoretical foundation as to how, when and where policies that change underlying economic structures can be applied. This paper outlines such a model, which is based on the perception of gradations in the process of development, and that the introduction of new ownership structures, market mechanisms and financing techniques are not necessarily solutions without providing for changes in economic, societal and legal infrastructures.

Suggested Citation

  • Carolyn Currie, 2003. "The Need for a New Theory of Economic Reform," Working Paper Series 131, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    • Handle: RePEc:uts:wpaper:131
    as

    Download full text from publisher

    File URL: http://www.finance.uts.edu.au/research/wpapers/wp131.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Gauche, Jerry N., 1998. "Binary economic modes for the privatization of public assets," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 27(3), pages 445-459.
    2. Marek Dabrowski & Stanislaw Gomulka & Jacek Rostowski, 2001. "Whence reform? A critique of the stiglitz perspective," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 4(4), pages 291-324.
    3. Ashford, Robert, 1996. "Louis Kelso's binary economy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 25(1), pages 1-53.
    4. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    5. J. Stiglitz, 1999. "Whither Reform? Ten Years of the Transition," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 7.
    6. Carolyn Currie, 1998. "Reform Of The Australian Financial System: Will The Wallis Proposals Jeopardise Systemic Stability?," Economic Papers, The Economic Society of Australia, vol. 17(3), pages 1-17, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. AlHussaini, Wissam & Molz, Rick, 2009. "A post-Keynesian regulatory model of privatization," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(2), pages 391-398, March.
    2. James Stanfield & Michael Carroll, 2009. "The Social Economics of Neoliberal Globalization," Forum for Social Economics, Taylor & Francis Journals, vol. 38(1), pages 1-18, January.
    3. Natasha Trajkova Najdovska & Monika Angeloska Dichovska, 2017. "Stylized Economic Facts Of Transition," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 4-17, December.
    4. James Stanfield & Michael Carroll, 2009. "The Social Economics of Neoliberal Globalization," Forum for Social Economics, Springer;The Association for Social Economics, vol. 38(1), pages 1-18, April.
    5. Hug March & David Saurí, 2013. "The Unintended Consequences of Ecological Modernization: Debt-Induced Reconfiguration of the Water Cycle in Barcelona," Environment and Planning A, , vol. 45(9), pages 2064-2083, September.
    6. Scott Burd & Carolyn Currie, 2004. "Partnering with the Private Sector to Introduce New Physical, Human, and Social Capital - Isolating Criteria for Success," Working Paper Series 133, Finance Discipline Group, UTS Business School, University of Technology, Sydney.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Carolyn Currie, 2005. "An Empirical Test of a New Theory of Economic Growth – The Relationship Between External Debt and Economic Development," Working Paper Series 144, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    2. Scott Burd & Carolyn Currie, 2004. "Partnering with the Private Sector to Introduce New Physical, Human, and Social Capital - Isolating Criteria for Success," Working Paper Series 133, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    3. Saul Estrin, 2002. "Competition and Corporate Governance in Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 101-124, Winter.
    4. Andrzej Cieslik & Lukasz Goczek, 2015. "On The Evolution Of Corruption Patterns In The Post-Communist Countries," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 10(1), pages 33-53, March.
    5. Gerald A. McDermott, 2000. "Network Restructuring and Firm Creation in East-Central Europe: A Public-Private Venture," William Davidson Institute Working Papers Series 361, William Davidson Institute at the University of Michigan.
    6. Petr Vymětal & Milan Žák, 2005. "Instituce a výkonnost [Institutions and performance]," Politická ekonomie, Prague University of Economics and Business, vol. 2005(4), pages 545-566.
    7. Ashford, Robert & Kantarelis, Demetri, 2008. "Capital democratization," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(4), pages 1624-1635, August.
    8. Joseph E. Stiglitz, 2004. "Information and the Change in the Paradigm in Economics, Part 2," The American Economist, Sage Publications, vol. 48(1), pages 17-49, March.
    9. Gianni Zanini, 2003. "Assisting Russia's Transition : An Unprecedented Challenge," World Bank Publications - Books, The World Bank Group, number 13981, December.
    10. Assaf Razin & Efraim Sadka & Chi-Wa Yuen, 1999. "An Information-Based Model of Foreign Direct Investment: The Gains from Trade Revisited," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 6(4), pages 579-596, November.
    11. Innes, Robert, 1987. "Adverse Selection And Tax Externalities In A Model Of Entrepreneurial Investment," Working Papers 225812, University of California, Davis, Department of Agricultural and Resource Economics.
    12. Li, Yuanyuan & Wigniolle, Bertrand, 2017. "Endogenous information revelation in a competitive credit market and credit crunch," Journal of Mathematical Economics, Elsevier, vol. 68(C), pages 127-141.
    13. Janvier D. Nkurunziza, 2005. "Reputation and Credit without Collateral in Africa`s Formal Banking," Economics Series Working Papers WPS/2005-02, University of Oxford, Department of Economics.
    14. Cowling, Marc, 2010. "The role of loan guarantee schemes in alleviating credit rationing in the UK," Journal of Financial Stability, Elsevier, vol. 6(1), pages 36-44, April.
    15. Weill, Laurent, 2011. "How corruption affects bank lending in Russia," Economic Systems, Elsevier, vol. 35(2), pages 230-243, June.
    16. Popoyan, Lilit & Napoletano, Mauro & Roventini, Andrea, 2017. "Taming macroeconomic instability: Monetary and macro-prudential policy interactions in an agent-based model," Journal of Economic Behavior & Organization, Elsevier, vol. 134(C), pages 117-140.
    17. Hartarska, Valentina M. & Nadolnyak, Denis A., 2012. "Financing Constraints and Access to Credit in Post Crisis Environment: Evidence from New Farmers in Alabama," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124882, Agricultural and Applied Economics Association.
    18. Jiao Wang & Lima Zhao & Arnd Huchzermeier, 2021. "Operations‐Finance Interface in Risk Management: Research Evolution and Opportunities," Production and Operations Management, Production and Operations Management Society, vol. 30(2), pages 355-389, February.
    19. Andriakopoulos, Konstantinos & Ladas, Augoustinos & Andriakopoulos, Panagiotis, 2020. "Bank efficiency and leasing in U.S.A. banking system," MPRA Paper 112645, University Library of Munich, Germany.
    20. Djimoudjiel, Djekonbe & T. Rostand, Dany Dombu & MBATINA NODJI, NDILENGAR, 2024. "What lessons does the COVID-19 pandemic teach us about banking liquidity and information share in the CEMAC zone?," MPRA Paper 119666, University Library of Munich, Germany, revised 17 Jan 2024.

    More about this item

    Keywords

    privatizations; public private partnerships; economic reform;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uts:wpaper:131. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Duncan Ford (email available below). General contact details of provider: https://edirc.repec.org/data/sfutsau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.