The Neo-Liberal Platform of the Transition to Market Economy – Specifics and Consequences

Stefan Stefanov ()

Economic Thought journal, 2004, issue 7, 24-43

Abstract: The subject of analysis is the nature of the market reforms in the Central and East European (CEE) countries and especially the strong influence of the Washington Consensus as a set of neo-liberal policies that was imposed by the International Monetary Fund on developing and transition countries during the third wave of globalization of the world economy. The consequences of the neo-liberal policies are investigated mainly in the following aspects: i) as a source of misalignment of means and goals in the market reform agenda; ii) as a factor retarding the building of genuine market institutions in the region; iii) as a generator of negative shocks on both external and internal aggregate demand eventually causing a deep and long-lasting recession; iv) as one of the reasons for increasing poverty, inequality and corruption in the economy of transition countries.

JEL-codes: F02 N20 P51 (search for similar items in EconPapers)
Date: 2004
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Journal Article: The neoliberal platform of the transition to market economy - specifics and consequences (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2004:i:7:p:24-43

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