Will Gradualism Work When Shock Therapy Doesn't?

Vivek Dehejia ()

Carleton Economic Papers from Carleton University, Department of Economics

Abstract: When shock therapy is politically infeasible, will gradualism be feasible? Mussa (1986) conjectured, in the context of a neoclassical model of adjustment, that the answer was "yes". This paper takes up the Mussa conjecture by : (i) building a political economy model in which it makes sense; (ii) stating the relavant political economy constraint rigorously; and (iii) analyzing the question in the context of the model that Mussa had in mind.

Keywords: gradualism; policy reform; shock terapy; structural adjustment (search for similar items in EconPapers)
JEL-codes: F11 F13 (search for similar items in EconPapers)
Pages: 32 pages
Date: 1995-05
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Citations: View citations in EconPapers (1)

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Journal Article: Will Gradualism Work When Shock Therapy Doesn"t? (2003)
Working Paper: Will Gradualism Work When Shock Therapy Doesn't? (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:car:carecp:95-08

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