Problems of Transition from a Planned to a Market Economy
The paper shows that a transition from a planned to a market economy implies an important change of the structure of production, i. e. a reallocation of resources which takes time and induces sufferings for some people. These sufferings may be reduced by subsidization of some sectors, with some negative effects on GDP and growth if subsidization exceeds a certain size. The time tillthe economy in transition reaches an ``old" market economy (asymptotically or totally) is estimated by different methods. Finally other problems, mostly non--economic ones, which are connected with the transition process are discussed.
|Date of creation:||Apr 2000|
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- Andrei Shleifer, 1998.
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Harvard Institute of Economic Research Working Papers
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- Schmidt, Klaus M., 1996.
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Munich Reprints in Economics
19776, University of Munich, Department of Economics.
- De Fraja, Giovanni, 1993. "Productive efficiency in public and private firms," Journal of Public Economics, Elsevier, vol. 50(1), pages 15-30, January.
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