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The Eastern Transition to a Market Economy: A Global Perspective

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  • J Williamson

Abstract

This paper contains the text of a series of public lectures given by Professor Williamson at the LSE on February 24 and 25 1992. Professor Williamson is the first holder of the British Petroleum Professorship, awarded annually to a visiting academic of the highest standing. The lecture covers the failure of socialism, and the design of the subsequent reform programmes. He argues that although with hindsight the transition process could have been handled slightly differently, aborting the transition process because of the problems associated with it is not the answer.

Suggested Citation

  • J Williamson, 1992. "The Eastern Transition to a Market Economy: A Global Perspective," CEP Occasional Papers 02, Centre for Economic Performance, LSE.
    • Handle: RePEc:cep:cepops:02
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    File URL: https://cep.lse.ac.uk/pubs/download/occasional/OP002.pdf
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    Cited by:

    1. J Rostowski, 1993. "The Inter-Enterprise Debt Explosion in the Former Soviet Union: Causes, Consequences, Cures," CEP Discussion Papers dp0142, Centre for Economic Performance, LSE.
    2. Grzegorz W. Kołodko, 2019. "Uwarunkowania i długookresowe implikacje Strategii dla Polski," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 65-93.
    3. Jacek Rostowski, 1993. "Problems of creating stable monetary systems in post‐communist economies," Europe-Asia Studies, Taylor & Francis Journals, vol. 45(3), pages 445-461.
    4. Gruševaja, Marina, 2010. "Governmental Learning as a Determinant of Economic Growth," IWH Discussion Papers 23/2010, Halle Institute for Economic Research (IWH).
    5. Ruzica Simic Banovic, 2015. "(Former) Informal Networks As A Reflection Of Informal Institutions In East European Transitional Societies: Legacy Or Opportunism?," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 10(1), pages 179-205, March.
    6. ELLMAN, Michael, 2012. "What Did the Study of Transition Economies Contribute to Mainstream Economics?," RRC Working Paper Series Special_issue_no.2, Russian Research Center, Institute of Economic Research, Hitotsubashi University.
    7. J Rostowski, 1993. "Creating Stable Monetary Systems in Post-Communist Economies," CEP Discussion Papers dp0141, Centre for Economic Performance, LSE.
    8. Raiser, Martin, 1994. "Lessons for whom, from whom? The transition from socialism in China and Central Eastern Europe compared," Kiel Working Papers 630, Kiel Institute for the World Economy (IfW Kiel).
    9. Rostowski, J., 1993. "The inter-enterprise debt explosion in the former Soviet Union: causes, consequences, cures," LSE Research Online Documents on Economics 20968, London School of Economics and Political Science, LSE Library.
    10. Rostowski, J., 1993. "Creating stable monetary systems in post-communist economies," LSE Research Online Documents on Economics 20970, London School of Economics and Political Science, LSE Library.
    11. Raiser, Martin, 1992. "Soft budget constraints: An institutional interpretation of stylised facts in economic transformation in Central Eastern Europe," Kiel Working Papers 549, Kiel Institute for the World Economy (IfW Kiel).

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    JEL classification:

    • N0 - Economic History - - General

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