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Russian Economic Reform: Is Economics Helpful?

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Listed:
  • Jim Leitzel

    (Duke University)

Abstract

This paper examines how issues ranging from inflation to monopolization in the former Soviet Union are occasionally misdiagnosed, leading to sub-optimal prescriptions for reform. The misdiagnosis occurs because the pre-reform state of the Russian economy is often taken at face value as a centrally-planned economy, Russian official statistics are accepted uncritically, and the actual effects of changes in the former Soviet Union are frequently taken to be equivalent to their measured effects. The theme that emerges when an attempt is made to apply basic economic principles to Russian economic reform is that problems that are often attributed to reform are already present in the current, partially-reformed Russian economy.

Suggested Citation

  • Jim Leitzel, 1993. "Russian Economic Reform: Is Economics Helpful?," Eastern Economic Journal, Eastern Economic Association, vol. 19(3), pages 365-378, Summer.
  • Handle: RePEc:eej:eeconj:v:19:y:1993:i:3:p:365-378
    as

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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume19/V19N3P365_378.pdf
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    References listed on IDEAS

    as
    1. Alexeev, Michael, 1991. "If market clearing prices are so good then why doesn't (almost) anybody want them?," Journal of Comparative Economics, Elsevier, vol. 15(2), pages 380-390, June.
    2. Laffont, Jean-Jacques & Tirole, Jean, 1986. "Using Cost Observation to Regulate Firms," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 614-641, June.
    3. Fischer, Stanley & Gelb, Alan, 1990. "Issues in socialist economy reform," Policy Research Working Paper Series 565, The World Bank.
    4. Rudiger Dornbusch, 1992. "The Case for Trade Liberalization in Developing Countries," Journal of Economic Perspectives, American Economic Association, vol. 6(1), pages 69-85, Winter.
    5. Kent Osband, 1991. "Index Number Biases During Price Liberalization," IMF Working Papers 91/76, International Monetary Fund.
    6. 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.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform

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