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На Пути К Новой Теории Реформ
[Towards a New Theory of Reform]

Author

Abstract

Recent studies of processes of economic reforms testified that realization of liberal school recipes resulted in nonadequate losses. Basing on these studies,the author singles out a number of fundamental mistakes of the neoliberal conception. The neoliberals ignored costs of institutional transformations; they thought that creation of the market law framework was sufficient to form efficient institutions; they overestimated the role of macroeconomic policy to the detriment of institutional development; they did not consider possibilities of "institutional conflicts" as a result of institutional borrowing from other cultures; they did not take into account that efficient state is necessary for reforms to be successful. The theory of transition economies is now itself in transition to a new understanding of goals, possibilities, and technologies of reforms. Using the analysis conducted, the author outlines the most important directions of necessary transformations of Russian economic institutions.

Suggested Citation

  • Polterovich, Victor, 1999. "На Пути К Новой Теории Реформ
    [Towards a New Theory of Reform]
    ," MPRA Paper 22035, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:22035
    as

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    File URL: https://mpra.ub.uni-muenchen.de/22035/1/MPRA_paper_22035.pdf
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    References listed on IDEAS

    as
    1. Verdier, Thierry, 1994. "Models of political economy of growth: A short survey," European Economic Review, Elsevier, vol. 38(3-4), pages 757-763, April.
    2. de Melo, Martha & Denizer, Cevdet & Gelb, Alan & Tenev, Stoyan, 1997. "Circumstance and choice : the role of initial conditions and policies in transition economies," Policy Research Working Paper Series 1866, The World Bank.
    3. Corbett, Jenny & Mayer, Colin, 1991. "Financial Reform in Eastern Europe: Progress with the Wrong Model," Oxford Review of Economic Policy, Oxford University Press, vol. 7(4), pages 57-75, Winter.
    4. Jean Tirole, 1996. "A Theory of Collective Reputations (with applications to the persistence of corruption and to firm quality)," Review of Economic Studies, Oxford University Press, vol. 63(1), pages 1-22.
    5. Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 9-41, March.
    6. Polterovich, Victor, 1995. "Towards the Theory of Privatization," MPRA Paper 20151, University Library of Munich, Germany.
    7. Sato, Kazuo, 1990. "Indicative planning in Japan," Journal of Comparative Economics, Elsevier, vol. 14(4), pages 625-647, December.
    8. Pranab Bardhan, 1997. "Corruption and Development: A Review of Issues," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1320-1346, September.
    9. Cazes, Bernard, 1990. "Indicative planning in France," Journal of Comparative Economics, Elsevier, vol. 14(4), pages 607-620, December.
    10. Kornai Janos, 1994. "Transformational Recession: The Main Causes," Journal of Comparative Economics, Elsevier, vol. 19(1), pages 39-63, August.
    11. Lui, Francis T., 1986. "A dynamic model of corruption deterrence," Journal of Public Economics, Elsevier, vol. 31(2), pages 215-236, November.
    12. Eggertsson,Thrainn, 1990. "Economic Behavior and Institutions," Cambridge Books, Cambridge University Press, number 9780521348911.
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    Cited by:

    1. Ageeva Svetlana & Suslov Nikita, 2005. "Energy Consumption and GDP in Market and Transitional Economies," EERC Working Paper Series 05-05e, EERC Research Network, Russia and CIS.

    More about this item

    Keywords

    transformation costs; rent revenue; transplantation of institutions; privatization; government effectiveness;

    JEL classification:

    • P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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