Lessons from the Transition Economies: Putting the Success Stories of the Postcommunist World into a Broader Perspective

Vladimir Popov

No RP2009-15, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Why many transition economies succeeded by pursuing policies that are so different from the radical economic liberalization (shock therapy) that is normally credited for the economic success of central European countries? First, optimal policies are context dependent, they are specific for each stage of development and what worked in Slovenia cannot be expected to work in Mongolia. Second, even for countries at the same level of development, reforms needed to stimulate growth are different; they depend on the previous history and on the path chosen.

Keywords: Communist; Comparative economics; Economic development; Economic growth; Economic policy; Public expenditures; Structural adjustment (Economic policy); Gross national product; Institutional economics; Post-communism; Regional economics (search for similar items in EconPapers)
Date: 2009
New Economics Papers: this item is included in nep-fdg and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

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