Was there an optimum model of transition?

John Marangos

Global Business and Economics Review, 2006, vol. 8, issue 1/2, 133-160

Abstract: The aim of this paper is to develop and compare alternative models of transition using a political economy approach. As a result, five alternative models of transition are developed: the Shock Therapy, the Neoclassical Gradualist, the Post-Keynesian, the Pluralistic Market Socialist and the Non-pluralistic Market Socialist models of transition. An attempt is made to identify whether, from the models developed, an optimal model of transition existed. The optimality criterion tilts towards the neoclassical gradualist model. It can be argued that the neoclassical gradualist model maximised social welfare under the given internal and external constraints.

Keywords: transition economies; political economy; social welfare; transition models; constraints. (search for similar items in EconPapers)
Date: 2006
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.inderscience.com/link.php?id=8780 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:gbusec:v:8:y:2006:i:1/2:p:133-160

Access Statistics for this article

More articles in Global Business and Economics Review from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().