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Whence reform? A critique of the stiglitz perspective

Author

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  • Marek Dabrowski
  • Stanislaw Gomulka
  • Jacek Rostowski

Abstract

This paper discusses the key hypotheses which Joseph Stiglitz proposed, in his wide-ranging critique of the “Washington Consensus”, with regard to transition reforms and economic policies in China and Russia. The primary purpose is to evaluate the Stiglitz perspective in the light of empirical evidence, including the experience of countries outside China and Russia. Although some of the points Stiglitz makes are important for understanding what has happened in the transition, this paper argues that his perspective mis-interprets the key facts of the Chinese transition, mis-describes the facts of the Russian transition and fails to consider the theoretical and policy implications of the success of a “third model”, which is represented by some Central European and Baltic transitions.

Suggested Citation

  • 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.
    • Handle: RePEc:taf:jpolrf:v:4:y:2001:i:4:p:291-324
    DOI: 10.1080/13841280108523423
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    Cited by:

    1. Saul Estrin, 2002. "Competition and Corporate Governance in Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 101-124, Winter.
    2. Gouret, Fabian, 2007. "Privatization and output behavior during the transition: Methods matter!," Journal of Comparative Economics, Elsevier, vol. 35(1), pages 3-34, March.
    3. Kornai, János, 2000. "Tíz évvel a Röpirat angol kiadásának megjelenése után. A szerző önértékelése [Ten years after the English edition of `The Road to a Free Economy'. The author's self-evaluation]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 647-661.
    4. Gianni Zanini, 2003. "Assisting Russia's Transition : An Unprecedented Challenge," World Bank Publications - Books, The World Bank Group, number 13981, April.
    5. Dabrowski, Marek & Radziwill, Artur, 2007. "Regional vs. Global Public Goods: The Case of Post-Communist Transition," MPRA Paper 11967, University Library of Munich, Germany.
    6. Marek Dabrowski & Oleksandr Rohozynsky & Irina Sinitsina, 2004. "Post-Adaptation Growth Recovery in Poland and Russia - Similarities and Differences," CASE Network Studies and Analyses 0280, CASE-Center for Social and Economic Research.
    7. Saul Estrin, 2001. "Competition and Corporate Governance in Transition," William Davidson Institute Working Papers Series 431, William Davidson Institute at the University of Michigan.
    8. 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.
    9. Bell, Brian & Nickell, Stephen & Quintini, Glenda, 2002. "Wage equations, wage curves and all that," Labour Economics, Elsevier, vol. 9(3), pages 341-360, July.
    10. Janos Kornai, 2001. "Ten Years after “The Road to a Free Economy”: Self-estimate of the Author," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 42-60.
    11. Carolyn Currie, 2005. "An Empirical Test of a New Theory of Economic Growth ? the Relationship Between External Debt and Economic Development," Working Paper Series 140, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    12. Marek Dabrowski & Radzislawa Gortat, 2002. "Political Determinants of Economic Reforms in Former Communist Countries," CASE Network Studies and Analyses 0242, CASE-Center for Social and Economic Research.
    13. David Ellerman, 2002. "Russia : Thoughts on the Privatization Debates a Decade Later," World Bank Publications - Books, The World Bank Group, number 19062, April.
    14. Currie, Carolyn, 2005. "The need for a new theory of economic reform," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 34(4), pages 425-443, August.
    15. 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.
    16. Marek Dabrowski and Radzislawa Gortat, 2002. "Political and Economic Institutions, Growth and Poverty – Experience of Transition Countries," Human Development Occasional Papers (1992-2007) HDOCPA-2002-02, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
    17. Burgess, Simon & Turon, Helene, 2000. "Unemployment dynamics, duration and equilibrium: evidence from Britain," LSE Research Online Documents on Economics 20162, London School of Economics and Political Science, LSE Library.
    18. 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.

    More about this item

    JEL classification:

    • N0 - Economic History - - General
    • J1 - Labor and Demographic Economics - - Demographic Economics

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