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Transition

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  • Miroslav Prokopijevic

Abstract

The intention in this article is to consider some basic questions of transition after the more than ten years that have elapsed since this process has started, and after the emergence of a huge literature which tries to explain it. The structure of the article is as it follows: Part I is about a tentative definition of transition, followed by part II, which presents an analysis of the big-bang theory, probably the most popular policy recommendation for post-communist reforms. Part III is about privatization, which championed the attention of economists dealing with transition. It is argued that policy recommendations are unlikely to work during transition in the East Europe, if they do not take into account specific conditions in these countries; since conditions are quite different and since they change during reform, a strong commitment to reform is more important than a ready-made program. That indicates why nearly all policy recommendations of western experts (and those experts from East Europe who support them) have missed the point.

Suggested Citation

  • Miroslav Prokopijevic, 2001. "Transition," ICER Working Papers 15-2001, ICER - International Centre for Economic Research.
    • Handle: RePEc:icr:wpicer:15-2001
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    References listed on IDEAS

    as
    1. Douglass C. North, 2000. "Big-Bang Transformations of Economic Systems - An Introductory Note," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 156(1), pages 1-3, March.
    2. Viktor Vanberg & Wolfgang Kerber, 1994. "Institutional competition among jurisdictions: An evolutionary approach," Constitutional Political Economy, Springer, vol. 5(2), pages 193-219, March.
    3. Peter Murrell, 1995. "The Transition According to Cambridge, Mass," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 164-178, March.
    4. Enrico Colombatto, 2001. "A praxeological view of Post-Soviet institutional engineering," ICER Working Papers 13-2001, ICER - International Centre for Economic Research.
    5. Svetozar Pejovich, 2000. "After socialism: where hope for individual liberty lies," ICER Working Papers 16-2000, ICER - International Centre for Economic Research.
    6. Kenneth J. Arrow, 2000. "Economic Transition: Speed and Scope," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 156(1), pages 1-9, March.
    Full references (including those not matched with items on IDEAS)

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