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Post-Communist Reform: Pain and Progress

Author

Listed:
  • Olivier Jean Blanchard

    () (MIT)

  • Maxim Boycko
  • Marek Dabrowski

    () (Center for Social and Economic Research)

  • Rudiger Dornbusch
  • Richard Layard

    () (London School of Economics)

  • Andrei Shleifer

    () (Harvard University)

Abstract

In their earlier report, Reform in Eastern Europe, the WIDER group assessed the main building blocks of a successful transition in Eastern Europe: stabilization, price liberalization, privatization, and restructuring. For the last three years this group of leading economists has been heavily involved in the reform process. In this new report, they take stock, returning to the original themes and assessing progress and prospects, particularly in Russia. Stabilization in the major Central European countries was done very much by the book. Russia, in contrast, is following a path of restructuring without stabilization. The authors discuss how far this alternative strategy is likely to get. Turning to privatization, they note that initial plans started from the assumption that the state owned the assets. As slow progress of those plans has painfully shown, this was the wrong assumption. They point out that assets have in fact many de facto claimants, from managers to workers to local authorities to ministries, and discuss how the current Russian privatization program starts and builds up from this more realistic assessment. In the face of a collapse of trade in Eastern Europe, triggered by reform in Central Europe and a similar collapse between republics following the breakup of the Soviet Union, the authors show how simple measures such as a payments union can be used to increase trade and output. Post-Communist Reform concludes with a look at restructuring in Poland. The authors focus on the behavior of the state, the growth of the private sector, the role of financial systems, and the coherence of overall government policy, ending on a note of cautious optimism.

Suggested Citation

  • 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.
  • Handle: RePEc:mtp:titles:0262023628
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. J. David Brown & John S. Earle & Almos Telegdy, 2004. "Does Privatization Raise Productivity? Evidence from Comprehensive Panel Data on Manufacturing Firms in Hungary, Romania, Russia and Ukraine," IEHAS Discussion Papers 0425, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
    2. John Marangos, 2004. "Was Shock Therapy Consistent with Democracy?," Review of Social Economy, Taylor & Francis Journals, vol. 62(2), pages 221-243.
    3. 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.
    4. repec:cup:apsrev:v:103:y:2009:i:02:p:264-283_09 is not listed on IDEAS
    5. Prof. Dr. Robert Holzmann, 1994. "Funded and Private Pensions for Eastern European Countries in Transition?," Public Economics 9405004, EconWPA.
    6. Brown, J. David & Earle, John S. & Gehlbach, Scott, 2009. "Helping Hand or Grabbing Hand? State Bureaucracy and Privatization Effectiveness," American Political Science Review, Cambridge University Press, vol. 103(02), pages 264-283, May.
    7. repec:taf:ceasxx:v:50:y:1998:i:5:p:843-857 is not listed on IDEAS
    8. Du, Julan & Lu, Yi & Tao, Zhigang, 2009. "China as a regulatory state," BOFIT Discussion Papers 17/2009, Bank of Finland, Institute for Economies in Transition.
    9. Patrick Hamm & David Stuckler & Lawrence King, 2010. "The Governance Grenade: Mass Privatization, State Capacity and Economic Growth in Post-communist Countries," Working Papers wp222, Political Economy Research Institute, University of Massachusetts at Amherst.
    10. Lawrence Peter King, 1999. "The Developmental Consequences of Foreign Direct Investment in the Transition from Socialism to Capitalism: The Performance of Foreign Owned Firms in Hungary," William Davidson Institute Working Papers Series 277, William Davidson Institute at the University of Michigan.
    11. Jean-François Nivet, 1997. "Comportement des employés et restructuration des entreprises d'Etat en Europe centrale," Revue Économique, Programme National Persée, vol. 48(1), pages 75-91.
    12. Marek Dabrowski, 1993. "Two Years of Economic Reforms in Russia. Main Results," CASE Network Studies and Analyses 0009, CASE-Center for Social and Economic Research.
    13. Brown, J. David & Earle, John S., 2006. "The microeconomics of creating productive jobs : a synthesis of firm-level studies in transition economies," Policy Research Working Paper Series 3886, The World Bank.
    14. Lawrence King & Patrick Hamm, 2005. "Privatization and State Capacity in Postcommunist Society," William Davidson Institute Working Papers Series wp806, William Davidson Institute at the University of Michigan.
    15. Vladimir Gligorov & Doris Hanzl-Weiss & Yudit Kiss & Leon Podkaminer, 2014. "Monthly Report No. 12/2014," wiiw Monthly Reports 2014-12, The Vienna Institute for International Economic Studies, wiiw.
    16. John Marangos, 2004. "Modelling the privatization process in transition economies," Oxford Development Studies, Taylor & Francis Journals, vol. 32(4), pages 585-604.
    17. Brown, J. David & Earle, John S. & Shpak, Solomiya & Vakhitov, Volodymyr, 2015. "Is Privatization Working in Ukraine? New Estimates from Comprehensive Manufacturing Firm Data, 1989-2013," IZA Discussion Papers 9261, Institute for the Study of Labor (IZA).
    18. J. David Brown & John S. Earle & Almos Telegdy, 2006. "The Productivity Effects of Privatization: Longitudinal Estimates from Hungary, Romania, Russia, and Ukraine," Journal of Political Economy, University of Chicago Press, vol. 114(1), pages 61-99, February.
    19. Yingyi Qian, 1996. "Enterprise reform in China: agency problems and political control," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 4(2), pages 427-447, October.
    20. George, Emmanuel & Odejimi, Deborah & Matthews, Oluwatoyin & Ojeaga, Paul, 2013. "Is Privatization Related With Macroeconomic Management? Evidence From Some Selected African Countries," MPRA Paper 62211, University Library of Munich, Germany, revised 04 Aug 2014.
    21. Rosefielde, Steven, 2004. "An abnormal country," BOFIT Discussion Papers 15/2004, Bank of Finland, Institute for Economies in Transition.
    22. J. David Brown & John S. Earle, 2007. "The Productivity Effects of Privatization in Ukraine: Estimates from Comprehensive Manufacturing Firm Panel Data, 1989–2005," Upjohn Working Papers and Journal Articles 07-137, W.E. Upjohn Institute for Employment Research.
    23. Lawrence P. King, 2003. "Explaining Postcommunist Economic Performance," William Davidson Institute Working Papers Series 2003-559, William Davidson Institute at the University of Michigan.

    More about this item

    Keywords

    poland; eastern europe; government policy; post-communism; russia;

    JEL classification:

    • P4 - Economic Systems - - Other Economic Systems

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