The Economics of Transition and the Transition of Economics
The Economic Record, 1995, vol. 71, issue 4, 379-392
The economics of transition is the study of the economic transformation from one economic system–central planning–to another, a market system. This paper discusses a number of issues in reform strategy and experiences with reform of Eastern Europe. It is argued that the economics of transition has a wider significance that transcends specific issues of reform strategy and individual country experience. That significance lies in two areas; as a ‘living test’ of the neoclassical model which underpins the reform strategy and as an ultimate challenge to the economics discipline.
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ecorec:v:71:y:1995:i:4:p:379-392
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