 The shock therapy model of transitionInternational Journal of Economic Policy in Emerging Economies, 2007, vol. 1, issue 1, 88-123 Abstract: The aim of this paper is to develop a comprehensive analysis of the shock therapy model of transition. As such the model requires an analysis of what I define as the primary elements: economic analysis, definition of a good society, speed, political structure, ideological structure and initial conditions. Also it is necessary to develop an appropriate mechanism of implementation, what I define as the secondary elements: price liberalisation-stabilisation, privatisation, institutional structure, monetary policy and the financial system, fiscal policy, international trade and foreign aid and social policy. In addition, there was a need for a strategy by which the reform program would be implemented. In the conclusion an assessment of the shock therapy model as a political strategy takes place. Keywords: shock therapy; transition; reforms sequence; emerging economies; economic policy; economic analysis; political structure; ideological structure; price liberalisation; price stabilisation; privatisation; institutional structure; monetary policy; financial systems; fiscal policy; international trade; foreign aid; social policy; political strategy. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijepee:v:1:y:2007:i:1:p:88-123 Access Statistics for this article More articles in International Journal of Economic Policy in Emerging Economies from Inderscience Enterprises Ltd |
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