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A Political Economy Approach to the Neoclassical Gradualist Model of Transition


  • John Marangos


. A political economy approach to the neoclassical gradualist model of transition requires the exposition of what I define the primary elements of the model, which are economic analysis, definition of a good society, speed, political structure, ideological structure and whether the initial conditions were incorporated in the model. After the identification of the primary elements of the neoclassical gradualist model the next step is to identify secondary elements, the desired changes with respect to price liberalization‐stabilization, privatization, institutional structure, monetary policy and the financial system, fiscal policy, international trade and foreign aid and social policy. The analytical framework developed makes possible to understand the neoclassical gradualist model from a new and more enlightening perspective. We are better able to comprehend the complexities involved and the disagreements about the reform process. The adoption of a gradual process of transition did not only involve specifying the required policies of a successful transition but also entailed a process, a sequence by which the reforms should be introduced. As such, a process of transition consistent with the policies recommended by the neoclassical gradualists economists is developed. The conclusion reveals the inconsistencies in the model.

Suggested Citation

  • John Marangos, 2005. "A Political Economy Approach to the Neoclassical Gradualist Model of Transition," Journal of Economic Surveys, Wiley Blackwell, vol. 19(2), pages 263-293, April.
  • Handle: RePEc:bla:jecsur:v:19:y:2005:i:2:p:263-293
    DOI: 10.1111/j.0950-0804.2005.00247.x

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    Cited by:

    1. Ichiro Iwasaki & Taku Suzuki, 2016. "Radicalism Versus Gradualism: An Analytical Survey Of The Transition Strategy Debate," Journal of Economic Surveys, Wiley Blackwell, vol. 30(4), pages 807-834, September.
    2. S.A.R, Tharanga, 2018. "The Impact of Politics in Policy Reforms," MPRA Paper 88747, University Library of Munich, Germany.
    3. Judit KAPà S & Pál CZEGLÉDI, 2007. "What Does Transition Mean?: Post-socialist and Western European Countries Paralleled," The Journal of Comparative Economic Studies (JCES), The Japanese Society for Comparative Economic Studies (JSCES), vol. 3, pages 3-28, December.
    4. David Aristei & Cristiano Perugini, 2014. "Speed and Sequencing of Transition Reforms and Income Inequality: A Panel Data Analysis," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(3), pages 542-570, September.
    5. Aristei, David & Perugini, Cristiano, 2012. "Inequality and reforms in transition countries," Economic Systems, Elsevier, vol. 36(1), pages 2-10.
    6. Roberto Dell'Anno & Stefania Villa, 2013. "Growth in transition countries," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 21(3), pages 381-417, July.

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