Gradualism versus Big Bang: Speed and Sustainability of Reforms

Shang-Jin Wei

Canadian Journal of Economics, 1997, vol. 30, issue 4, 1234-47

Abstract: A beneficial reform may be blocked by a majority if it is implemented by a big bang but the same reform may succeed with an optimally designed gradualist approach. A gradualist approach can sometimes split opposition force and is, in this sense, more politically sustainable. On the other hand, if both approaches are politically preferred to no reform, a big bang is often preferred to gradualism in terms of both political support as well as economic efficiency.

Date: 1997
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