Whence Reform? A Critique of the Stiglitz Perspective
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 polices 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.
|Date of creation:||Sep 2000|
|Date of revision:|
|Contact details of provider:|| Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stanislaw Gomulka, 1995. "The IMF-Supported Programs of Poland and Russia, 1990-1994: Principles, Errors and Results," CASE Network Studies and Analyses 0036, CASE-Center for Social and Economic Research.
- Gomulka, Stanislow, 1977. "Slowdown in Soviet industrial growth : 1947-1975 reconsidered," European Economic Review, Elsevier, vol. 10(1), pages 37-49.
- Stanislaw Gomulka, 1998. "The Polish model of transformation and growth," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 6(1), pages 163-171, 05.
- Stephen Nickell & Luca Nunziata, 2000.
"Employment Patterns in OECD Countries,"
CEP Discussion Papers
dp0448, Centre for Economic Performance, LSE.
- International Monetary Fund, 2000.
"The "Soaring Eagle": Anatomy of the Polish Take-Off in the 1990's,"
IMF Working Papers
00/6, International Monetary Fund.
- Mark De Broeck & Vincent Koen, 2001. "The “Soaring Eagle”: Anatomy of the Polish Take-Off in the 1990s," Comparative Economic Studies, Palgrave Macmillan, vol. 43(2), pages 1-33, July.
- Estrin, Saul & Wright, Mike, 1999. "Corporate Governance in the Former Soviet Union: An Overview," Journal of Comparative Economics, Elsevier, vol. 27(3), pages 398-421, September.
When requesting a correction, please mention this item's handle: RePEc:cep:cepdps:dp0471. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.