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Modelling the privatization process in transition economies

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  • John Marangos

Abstract

Alternative economic paradigms give rise to alternative models of transition, which give rise to alternative privatization processes for transition economies. This is because each transition model is associated with a unique privatization process compatible with the predetermined assumptions and value judgements of the paradigm in question. As a result, five alternative models of transition that give rise to five alternative privatization processes are considered: the shock therapy model of transition; the neoclassical gradualist model of transition; the Post Keynesian model of transition; the pluralistic market socialist model of transition; and the Chinese model of transition. The privatization method adopted is directly linked with the value judgements associated by the economic paradigm in question. Comparisons of privatization processes that ignored the value judgements of economic paradigms were meaningless.

Suggested Citation

  • John Marangos, 2004. "Modelling the privatization process in transition economies," Oxford Development Studies, Taylor & Francis Journals, vol. 32(4), pages 585-604.
  • Handle: RePEc:taf:oxdevs:v:32:y:2004:i:4:p:585-604
    DOI: 10.1080/1360081042000293353
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    1. John E. Roemer, 1994. "A Future for Socialism," Politics & Society, , vol. 22(4), pages 451-478, December.
    2. Olivier Jean Blanchard & Maxim Boycko & Marek Dabrowski & Rudiger Dornbusch & Richard Layard & Andrei Shleifer, 1993. "Post-Communist Reform: Pain and Progress," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262023628, January.
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    Cited by:

    1. Michaelides, Panayotis & Milios, John, 2009. "TFP change, output gap and inflation in the Russian Federation (1994-2006)," Journal of Economics and Business, Elsevier, vol. 61(4), pages 339-352, July.
    2. Michaelides, Panayotis G. & Economakis, George & Milios, John G. & Maroudas, Leonidas & Aggelis, Vassilis, 2005. "Growth, Technological Change and Output Gap in Russia," MPRA Paper 74479, University Library of Munich, Germany.

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