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The Economics of Transition and the Transition of Economics


  • Horne, Jocelyn


The economics of transition is the study of the economic transformation from one economic system--central planning--to another, a market system. This paper discusses a number of issues in reform strategy and experiences with reform of Eastern Europe. It is argued that the economics of transition has a wider significance that transcends specific issues of reform strategy and individual country experience. That significance lies in two areas--as a 'living' test of the neoclassical model which underpins the reform strategy and as an ultimate challenge to the economics discipline. Copyright 1995 by The Economic Society of Australia.

Suggested Citation

  • Horne, Jocelyn, 1995. "The Economics of Transition and the Transition of Economics," The Economic Record, The Economic Society of Australia, vol. 71(215), pages 379-392, December.
  • Handle: RePEc:bla:ecorec:v:71:y:1995:i:215:p:379-92

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    Cited by:

    1. John Marangos, 2002. "A post Keynesian critique of privatization policies in transition economies," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(5), pages 573-589.
    2. Adam McCarty, 2001. "The Social Impact of the Reform Process," Development and Comp Systems 0110004, EconWPA.
    3. Midttun, Atle & Chander, Ishwar, 1998. "The political economy of energy use and pollution: the environmental effects of East-European transition to market economy," Energy Policy, Elsevier, vol. 26(13), pages 1017-1029, November.

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