IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Sequential reform strategy: The case of Azerbaijan

  • Laurila, Juhani

    ()

    (BOFIT)

  • Singh, Rupinder

    ()

    (BOFIT)

Registered author(s):

    The aim is to review transition literature for evidence that supports sequential reform strategy, as presented in this report. The second part discusses the findings in the context of Azerbaijan, a formerly socialist transition economy with interesting initial conditions. Evidence of the country's current need to focus on improving public services fits well with the sequential reform view. The authors argue that constraints captured by initial conditions (human resources, administrative capacities, traditions, etc.) necessitate sequencing of reforms and outline general aspects of a sequential reform strategy designed to expedite the transition process. The literature survey supports the Washington Consensus recommendations for starting transition with macroeconomic reforms, but over time initial conditions inevitably constrain and necessitate sequencing. In other words, reform efforts initially need to be directed across the widest possible front, but later in transition the emphasis of reform efforts needs to shift from one area to another. In the later stages, emphasis needs to be laid on improvement of public sector governance to support and promote macroeconomic reforms and formation of a healthy corporate sector. Democratic institutions arise with economic growth generated by the corporate sector.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.suomenpankki.fi/bofit_en/tutkimus/tutkimusjulkaisut/dp/Documents/dp0800.pdf
    Download Restriction: no

    Paper provided by Bank of Finland, Institute for Economies in Transition in its series BOFIT Discussion Papers with number 8/2000.

    as
    in new window

    Length: 79 pages
    Date of creation: 23 Aug 2000
    Date of revision:
    Handle: RePEc:hhs:bofitp:2000_008
    Contact details of provider: Postal: Bank of Finland, BOFIT, P.O. Box 160, FI-00101 Helsinki, Finland
    Phone: + 358 10 831 2268
    Fax: + 358 10 831 2294
    Web page: http://www.suomenpankki.fi/bofit_en/Email:


    More information through EDIRC

    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.:

    as in new window
    1. Christian Harm & Joshua Charap, 1999. "Institutionalized Corruption and the Kleptocratic State," IMF Working Papers 99/91, International Monetary Fund.
    2. Simon Johnson & John McMillan & Christopher Woodruff, 1999. "Property Rights, Finance, and Entrepreneurship," CESifo Working Paper Series 212, CESifo Group Munich.
    3. Castanheira, Micael & Roland, Gérard, 1996. "The Optimal Speed of Transition: A General Equilibrium Analysis," CEPR Discussion Papers 1442, C.E.P.R. Discussion Papers.
    4. Sebastian Edwards, 1989. "On the Sequencing of Structural Reforms," NBER Working Papers 3138, National Bureau of Economic Research, Inc.
    5. Andrei Shleifer & Robert W. Vishny, 1998. "The Quality of Government," Harvard Institute of Economic Research Working Papers 1847, Harvard - Institute of Economic Research.
    6. Vladimir Popov, 1999. "Investment, Restructuring and Performance in Transition Economies," Post-Communist Economies, Taylor & Francis Journals, vol. 11(4), pages 445-462.
    7. Wolf, H.C., 1999. "Transition Strategies: Choices and Outcomes," Princeton Studies in International Economics 85, International Economics Section, Departement of Economics Princeton University,.
    8. J�nos Kornai, 2000. "What the Change of System from Socialism to Capitalism Does and Does Not Mean," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 27-42, Winter.
    9. Cesar Martinelli & Mariano Tommasi, 1993. "Sequencing of Economic Reforms in the Presence of Political Constraints," UCLA Economics Working Papers 701, UCLA Department of Economics.
    10. Simon Johnson & Daniel Kaufman & Andrei Shleifer, 1997. "The Unofficial Economy in Transition," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(2), pages 159-240.
    11. Christoph B. Rosenberg & Tapio Saavalainen, 1998. "How to Deal with Azerbaijan's Oil Boom? Policy Strategies in a Resource-Rich Transition Economy," IMF Working Papers 98/6, International Monetary Fund.
    12. Singh, Rupinder & Laurila, Juhani, 1999. "Azerbaijan: Recent Economic Developments and Policy Issues in Sustainability of Growth," BOFIT Discussion Papers 5/1999, Bank of Finland, Institute for Economies in Transition.
    13. Dewatripont, Mathias & Roland, Gérard, 1993. "The Design of Reform Packages Under Uncertainty," CEPR Discussion Papers 860, C.E.P.R. Discussion Papers.
    14. Eliasson, Gunnar, 1998. "From plan to markets," Journal of Economic Behavior & Organization, Elsevier, vol. 34(1), pages 49-68, January.
    15. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," IMF Working Papers 00/30, International Monetary Fund.
    16. J. Stiglitz, 1999. "Whither Reform? Ten Years of the Transition," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 7.
    17. Vivek H. Dehejia, 2003. "Will Gradualism Work When Shock Therapy Doesn"t?," Economics and Politics, Wiley Blackwell, vol. 15(1), pages 33-59, March.
    18. Fan, Chengze Simon & Overland, Jody & Spagat, Michael, 1999. "Human Capital, Growth, and Inequality in Russia," Journal of Comparative Economics, Elsevier, vol. 27(4), pages 618-643, December.
    19. Mauro, Paolo, 1995. "Corruption and Growth," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 681-712, August.
    20. Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 9-41, March.
    21. Ratna Sahay & Jeromin Zettelmeyer & Eduardo Borensztein & Andrew Berg, 1999. "The Evolution of Output in Transition Economies; Explaining the Differences," IMF Working Papers 99/73, International Monetary Fund.
    22. Stanley Fischer & Alan Gelb, 1991. "The Process of Socialist Economic Transformation," Journal of Economic Perspectives, American Economic Association, vol. 5(4), pages 91-105, Fall.
    23. Olivier Blanchard & Kenneth Froot & Jeffrey Sachs, 1994. "The Transition in Eastern Europe, Volume 2: Restructuring," NBER Books, National Bureau of Economic Research, Inc, number blan94-3, November.
    24. Vladimir Mau, 1999. "Russian Economic Reforms as Perceived by Western Critics," Published Papers 112, Gaidar Institute for Economic Policy, revised 2012.
    Full references (including those not matched with items on IDEAS)

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:hhs:bofitp:2000_008. 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: (Päivi Määttä)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.