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|
|Contact details of provider:|| Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP|
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.:
- David Blanchflower & A Oswald, 1993. "Entrepreneurship," CEP Discussion Papers dp0134, Centre for Economic Performance, LSE.
- 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.
- 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.
- 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.
- Mark De Broeck & Vincent Koen, 2001.
"The “Soaring Eagle”: Anatomy of the Polish Take-Off in the 1990s,"
Comparative Economic Studies,
Palgrave Macmillan;Association for Comparative Economic Studies, vol. 43(2), pages 1-33, July.
- 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.
- Stephen Nickell & Luca Nunziata, 2000. "Employment patterns in OECD countries," LSE Research Online Documents on Economics 20198, London School of Economics and Political Science, LSE Library.