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The shock therapy model of transition

Listed author(s):
  • John Marangos

The aim of this paper is to develop a comprehensive analysis of the shock therapy model of transition. As such the model requires an analysis of what I define as the primary elements: economic analysis, definition of a good society, speed, political structure, ideological structure and initial conditions. Also it is necessary to develop an appropriate mechanism of implementation, what I define as the secondary elements: price liberalisation-stabilisation, privatisation, institutional structure, monetary policy and the financial system, fiscal policy, international trade and foreign aid and social policy. In addition, there was a need for a strategy by which the reform program would be implemented. In the conclusion an assessment of the shock therapy model as a political strategy takes place.

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Article provided by Inderscience Enterprises Ltd in its journal Int. J. of Economic Policy in Emerging Economies.

Volume (Year): 1 (2007)
Issue (Month): 1 ()
Pages: 88-123

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Handle: RePEc:ids:ijepee:v:1:y:2007:i:1:p:88-123
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