The economics of transition literature

Anders Olofsgård, Paul Wachtel and Charles M. Becker

The Economics of Transition, 2018, vol. 26, issue 4, 827-840

Abstract: This article is based on a panel discussion on the contribution of the economics of transition literature to the broader understanding of economic and social development. All panel participants have been working in the field for decades and made important contributions to this literature. The transition experience was a social experiment on a scale not seen before, and many lessons were learned that travel beyond the specific region. Important contributions in areas such as political economy, contract theory, and the sequencing and complementarity of reforms were discussed. It was concluded that there is little reason at this point to consider economics of transition and development economics as separate subfields as they share the same intellectual objective, and complement each other in our understanding of the development process.

Date: 2018
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