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Article
Publication date: 1 July 1999

Charles Harvie

The last decade of this century has witnessed the transition of the formerly centrally planned economies of Europe and Asia to market economies, a process affecting some…

13162

Abstract

The last decade of this century has witnessed the transition of the formerly centrally planned economies of Europe and Asia to market economies, a process affecting some 1.7 billion people in 28 countries. While much agreement exists on the sorts of reform measures required, disagreement exists over their sequencing. The economic and social performance of these transition economies has varied considerably and for a variety of reasons, however China’s performance, in particular, has been outstanding. The paper reviews the reform measures required for economic transition, and alternative sequencing approaches to these reforms. It conducts an overview of the performance of the transition economies, with focus placed upon the experience of the Chinese economy. An analysis of China’s approach to economic reform, its key components, major outcomes and outstanding issues are discussed. Key lessons to be derived for other transition economies from China’s experience are also presented.

Details

International Journal of Social Economics, vol. 26 no. 7/8/9
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 5 June 2009

Morris Altman

The paper aims to examine the reality of, and, conditions for economic growth for former Soviet and Soviet Block economies with special attention to Ukraine and the…

Abstract

Purpose

The paper aims to examine the reality of, and, conditions for economic growth for former Soviet and Soviet Block economies with special attention to Ukraine and the Russian Federation. Many of these economies' transition from “Communism” remain plagued by problems of institutional design and outcomes characterized by high levels of corruption and low levels of accountability and transparency. The purpose of this paper is to analyze aspects of these socio‐economic realities in the context of contemporary economic theory and ongoing revisions to it.

Design/methodology/approach

The type of economic theory used to assess issues of transition has significant implications for public policy. Conventional economic theory has traditionally focused on secure private property rights, competitive markets, inclusive of “flexible” labor markets, as the necessary if not the sufficient conditions to successfully and quickly transition from command style to market economies. Little attention is paid to the details of institutional design. The paper applies a behavioral‐institutional analytical framework to analyze important aspects of failures and successes in transition economies using both economic and governance data sets.

Findings

The paper finds that traditional measures of economic freedom are far from sufficient to generate economic growth. Accountability and transparency in governance structures is also required. Economic failure and success are closely connected with overall performance in socio‐economic governance. Also an unnecessary emphasis on low wages, highly constrained social safety nets and labor market policy impedes successful growth and development.

Practical implications

Transition economies' economic performance can be significantly enhanced through improvements in institutional design that facilitates the evolution of high‐wage market economies. The market in and of itself does not suffice to generate successful transitions from command to vibrant market economies.

Originality/value

This paper provides an original exposé and analysis of transition economies from a behavioral‐institutionalist perspective, with important public policy implications.

Details

International Journal of Social Economics, vol. 36 no. 7
Type: Research Article
ISSN: 0306-8293

Keywords

Book part
Publication date: 4 March 2015

György Simon

The study deals with key questions of Serbia’s economic development, including the regularities of transforming self-managed socialism to a standard capitalist system. It…

Abstract

The study deals with key questions of Serbia’s economic development, including the regularities of transforming self-managed socialism to a standard capitalist system. It is based on the concept of endogenous growth and the general theory of market transition. In the empirical part of investigation, the main directions of economic development and transition in Serbia are analysed. Crucial issues of economic policy are also considered with a particular emphasis on the latest phase of transition. Concerning the problems of economic efficiency, an attempt is made to quantify the various types of technical progress and determine their contribution to its overall rate. The macroeconomic role of external factors is quantitatively shown through a globalisation effect related to inflows of FDI. The author believes that the Serbian economy, despite all its problems and difficulties, in principle has the potential necessary for finding adequate answers to the challenges of ‘neo-transition’. Of these challenges, he regards as most serious Serbia’s ability to comply with the standards of accession to the European Union, which, among others, requires closer regional cooperation.

Details

Neo-Transitional Economics
Type: Book
ISBN: 978-1-78441-681-2

Keywords

Article
Publication date: 1 January 2005

Vladimer Papava

The paper investigates the utility of economic theory for post‐Communist economic transformation. It serves to explain the main reasons for market reform failure in…

1986

Abstract

Purpose

The paper investigates the utility of economic theory for post‐Communist economic transformation. It serves to explain the main reasons for market reform failure in different post‐Communist countries.

Design/methodology/approach

A literature review suggests that after the collapse of the Communist system there was no economic theory of transition to market. Whenever one considers the transition of post‐Communist economies to a market system (which, in fact, is nothing but post‐Communist transition to capitalist economies), it has to be placed on record, as this kind of transition has no precedent in history.

Findings

The main mistake of gradualists stems from their overlooking some very important conditions for successful transition: political guarantees and internal assets for reforms. And the success of shock therapy rests on the paradox, “the worse, the better”.

Originality/value

There is as yet no special economic theory of post‐Communist transformation and it is just developing. This paper helps one to understand the main features of shock therapy and gradualism for designing the framework of such a theory. It is geared towards researchers and students interested in the theoretical aspects of the post‐Communist economic transition to markets.

Details

International Journal of Social Economics, vol. 32 no. 1/2
Type: Research Article
ISSN: 0306-8293

Keywords

Book part
Publication date: 4 March 2015

Rustam Jamilov and Yusaf H. Akbar

This paper introduces the readers to Neo-Transitional Economics – a volume which aspires to reinvigorate scholarly interest in transition economics research. The classical…

Abstract

This paper introduces the readers to Neo-Transitional Economics – a volume which aspires to reinvigorate scholarly interest in transition economics research. The classical transition storyline is briefly revisited, and new directions for empirical and policy-relevant research that target post-transition economies in the post-crisis paradigm are highlighted.

Book part
Publication date: 25 January 2021

Desalegn Abraha and Akmal S. Hyder

This chapter presents a description of transition economies of Europe focusing different aspects related to the economic development of this area. First, the transition

Abstract

This chapter presents a description of transition economies of Europe focusing different aspects related to the economic development of this area. First, the transition economies are introduced. Later on, political conditions, cultural factors affecting these countries, and economic situation are presented. Referring earlier studies and different factors, a new classification of transition economies is offered.

To have critical perspective, some of the performances of transition economies are compared with BRICS countries, which have been particularly focused as major economies of the emerging markets. Finally, the case countries are presented.

Details

Transformation of Strategic Alliances in Emerging Markets, Volume I
Type: Book
ISBN: 978-1-80043-745-6

Book part
Publication date: 24 May 2007

Frederic Carluer

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth

Abstract

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth. Contrariwise, the objective of competitiveness can exacerbate regional and social inequalities, by targeting efforts on zones of excellence where projects achieve greater returns (dynamic major cities, higher levels of general education, the most advanced projects, infrastructures with the heaviest traffic, and so on). If cohesion policy and the Lisbon Strategy come into conflict, it must be borne in mind that the former, for the moment, is founded on a rather more solid legal foundation than the latter” European Commission (2005, p. 9)Adaptation of Cohesion Policy to the Enlarged Europe and the Lisbon and Gothenburg Objectives.

Details

Managing Conflict in Economic Convergence of Regions in Greater Europe
Type: Book
ISBN: 978-1-84950-451-5

Article
Publication date: 1 September 1995

John E. Elliott

Examines critically the promises and dilemmas of capitalisttransition and economic transformation in the context of apost‐communist society such as Russia. Discusses the…

381

Abstract

Examines critically the promises and dilemmas of capitalist transition and economic transformation in the context of a post‐communist society such as Russia. Discusses the strategies for economic reform, the direction of change and the pace and magnitude of reforms.

Details

International Journal of Social Economics, vol. 22 no. 9/10/11
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 September 1995

John E. Elliott

Examines the sequencing of economic reforms in the post‐communisttransition, focusing on Russia. Proposes a moderately expansionarystabilization, succeeded by gradual…

Abstract

Examines the sequencing of economic reforms in the post‐communist transition, focusing on Russia. Proposes a moderately expansionary stabilization, succeeded by gradual liberalization and marketization, followed by a more ambitious economic restructuring and privatization.

Details

International Journal of Social Economics, vol. 22 no. 9/10/11
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 30 September 2014

Samia Satti Osman Mohamed Nour

– The purpose of this paper is to examine the challenges and opportunities for the transition to a knowledge-based economy in the Arab region.

Abstract

Purpose

The purpose of this paper is to examine the challenges and opportunities for the transition to a knowledge-based economy in the Arab region.

Design/methodology/approach

Both descriptive and comparative approaches are used, together with the framework and definition of “knowledge-based economy” often used in the international literature to examine the challenges and opportunities for a transition to a knowledge-based economy in the Arab region.

Findings

The findings support the hypothesis concerning the challenges and opportunities for transition to a knowledge-based economy in the Arab region. This transition is seriously impeded by several political, social, economic, institutional and organisational obstacles and impediments. Overcoming the major challenges hindering the transition to knowledge-based economies will involve changing the economic structure by shifting from (rent-seeking) natural resources-based (oil) economies to knowledge-based economies in the Arab region.

Originality/value

This paper is valuable because it fills the gap in the Arab literature by presenting a more comprehensive analysis and investigating the challenges and opportunities for the transition, which previous literature has failed to adequately discuss. Moreover, the paper supports the efforts aimed at enhancing knowledge-based economies in the Arab region. The findings imply that it is essential for the Arab region to overcome challenges by implementing sound strategies for their transition to knowledge economies and improving and enhancing appropriate investments in human capital, effective institutions, relevant technologies and innovative and competitive enterprises to facilitate such a transition.

Details

World Journal of Science, Technology and Sustainable Development, vol. 11 no. 4
Type: Research Article
ISSN: 2042-5945

Keywords

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