The economics of environments in transitionTheodore Panayotou Environment and Development Economics, 1999, vol. 4, issue 04, pages 401-412 Abstract: The sudden collapse of the centrally planned economies of Central andEastern Europe (CEE) and the former Soviet Union (FSU), has createdeconomic and environmental disequilibria of historically unprecedenteddimensions throughout the region, as well as a process of gradual transitionfrom plan to market. This historical experiment provides a uniqueopportunity to study economy?environment interactions and the adjustmentprocess towards a new equilibrium, as well as the implications forconventional and novel policy instruments under transitional conditions.The changes that have taken place have been so many and so large thatthey defy many of the tools of marginal analysis. Privatization, industrialrestructuring, market competition, price reform, and trade liberalizationamong others have suddenly been introduced where none existed andhave so radically altered the fundamentals of these economies that theycould be considered as new economies rather than simply reformedeconomies. However, underlying these radical changes, are many legaciesof the centrally planned economy that persist or change only gradually.Furthermore, not all countries in CEE and the FSU have reformed theireconomies at the same pace. The northern tier countries of CEE movedfaster than the southern tier and the latter faster than most FSU republics. Date: 1999 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: http://EconPapers.repec.org/RePEc:cup:endeec:v:4:y:1999:i:04:p:401-412_00 Access Statistics for this article More articles in Environment and Development Economics from Cambridge University Press |
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