Will Gradualism Work When Shock Therapy Doesn"t?

Vivek Dehejia ()

Economics and Politics, 2003, vol. 15, issue 1, 33-59

Abstract: When shock therapy is politically infeasible, will gradualism work? This paper takes up this question by: (i) building a political economy model in which it makes sense; (ii) stating the relevant political economy constraint rigorously; and (iii) analyzing the question in the context of a neoclassical model of adjustment, based on Mussa (1978). The paper answers the question in the affirmative, thus contributing to the scientific and policy literature on the economic analysis of policy reform. Copyright 2003 Blackwell Publishing Ltd.

Date: 2003
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Working Paper: Will Gradualism Work When Shock Therapy Doesn't? (1997)
Working Paper: Will Gradualism Work When Shock Therapy Doesn't? (1995)
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