Neo-Transitional Economies: The Broad Context

Neo-Transitional Economics

ISBN: 978-1-78441-682-9, eISBN: 978-1-78441-681-2

ISSN: 1569-3767

Publication date: 4 March 2015

Abstract

The following broad generalizations are elaborated: (1) For a country’s sustained good economic performance, there is no alternative to a predominantly market-driven economy, supported by appropriate institutions. (2) In societies at all levels of development, it is essential to have mutually supporting cooperation between the private sector and the state (section “An Economic System with Universal Features?”). (3) The quarter-century transformation progress of the 29 former centrally planned economies of the USSR and Eastern Europe has been most uneven, as documented in the section “Relationship between Economic and Political System Transformation.” (4) Regarding China, it is NOT the country’s authoritarian political system but the skillful transformation of its economy into a market-driven one that has been principally responsible for the country’s impressive, long-term economic performance (section “China’s Economic Growth and Development Model”). The paper concludes by suggesting that the most fundamental determinants of a country’s long-term economic success are some combination of its geography, institutions, culture, and momentous historical events.

Keywords

Acknowledgements

Acknowledgement

The author thanks Rustam Jamilov for constructive suggestions on an earlier draft.

Citation

Marer, P. (2015), "Neo-Transitional Economies: The Broad Context", Neo-Transitional Economics (International Finance Review, Vol. 16), Emerald Group Publishing Limited, Bingley, pp. 21-52. https://doi.org/10.1108/S1569-376720150000016001

Publisher

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Emerald Group Publishing Limited

Copyright © 2015 Emerald Group Publishing Limited

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