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Europe versus Asia: Contrasting Paths to the Reform of Centrally Planned Systems of Political Economy

In: The Transformation of the Communist Economies

Author

Listed:
  • Ha-Joon Chang
  • Peter Nolan

Abstract

Like Western Europe after World War II, Eastern and Central European Countries (ECEC) now have the historic opportunity to create ex novo optimal economic and social institutions and thereby free their latent energies. They have the human capital that distinguishes them from Less Developed Countries and makes rapid reconstruction possible. The factor endowment of ECEC is quite similar to that of Western Europe after World War II or that of some Asian Newly Industrialising Countries. Moreover, they can avoid policy choices demonstrated as erroneous by experience and leap frog those Western countries whose oligarchic inwards looking co-institutional framework has not had the chance to be dynamited away. (Steinherr, 1991, pp. 4–5)

Suggested Citation

  • Ha-Joon Chang & Peter Nolan, 1995. "Europe versus Asia: Contrasting Paths to the Reform of Centrally Planned Systems of Political Economy," Palgrave Macmillan Books, in: Ha-Joon Chang & Peter Nolan (ed.), The Transformation of the Communist Economies, chapter 1, pages 3-45, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23916-0_1
    DOI: 10.1007/978-1-349-23916-0_1
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    Citations

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    Cited by:

    1. Shu-Yun Ma, 2010. "Shareholding System Reform in China," Books, Edward Elgar Publishing, number 13243.
    2. Justin Lin & David Rosenblatt, 2012. "Shifting patterns of economic growth and rethinking development," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 15(3), pages 171-194.
    3. Justin Yifu Lin, 2007. "Development and Transition : Idea, Strategy, and Viability," Development Economics Working Papers 22709, East Asian Bureau of Economic Research.
    4. Camiah, Natasza & Hollinshead, Graham, 2003. "Assessing the potential for effective cross-cultural working between "new" Russian managers and western expatriates," Journal of World Business, Elsevier, vol. 38(3), pages 245-261, August.

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