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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References listed on IDEAS
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- Schmidt, Klaus M., 1996.
"Incomplete contracts and privatization,"
European Economic Review,
Elsevier, vol. 40(3-5), pages 569-579, April.
- Klaus M. Schmidt, 1995. "Incomplete Contracts and Privatization," Discussion Paper Serie A 480, University of Bonn, Germany.
- Schmidt, Klaus M., 1996. "Incomplete contracts and privatization," Munich Reprints in Economics 19776, University of Munich, Department of Economics.
- Andrei Shleifer, 1998. "State versus Private Ownership," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 133-150, Fall.
- Andrei Shleifer, 1998. "State Versus Private Ownership," NBER Working Papers 6665, National Bureau of Economic Research, Inc.
- Andrei Shleifer, 1998. "State Versus Private Ownership," Harvard Institute of Economic Research Working Papers 1841, Harvard - Institute of Economic Research.
- De Fraja, Giovanni, 1993. "Productive efficiency in public and private firms," Journal of Public Economics, Elsevier, vol. 50(1), pages 15-30, January.
- Michael D. Intriligator, 1964. "Regional Allocation of Investment: Comment," The Quarterly Journal of Economics, Oxford University Press, vol. 78(4), pages 659-662. Full references (including those not matched with items on IDEAS)
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