Whence reform? A critique of the Stiglitz perspective

Marek Dabrowski, Stanislaw Gomulka and Jacek Rostowski

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper discusses the key hypotheses which Joseph Stiglitz proposed, in his wide-ranging critique of the ''Washington Consensus'', with regard to transition reforms and economic polices in China and Russia. The primary purpose is to evaluate the Stiglitz perspective in the light of empirical evidence, including the experience of countries outside China and Russia. Although some of the points Stiglitz makes are important for understanding what has happened in the transition, this paper argues that his perspective mis-interprets the key facts of the Chinese transition, mis-describes the facts of the Russian transition and fails to consider the theoretical and policy implications of the success of a ''third model'', which is represented by some Central European and Baltic transitions.

Keywords: Transition from communism; capitalism; China; Russia; Joseph Stiglitz; 'clean slate' policy; social capital (search for similar items in EconPapers)
JEL-codes: J1 N0 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2000-09
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://eprints.lse.ac.uk/20167/ Open access version. (application/pdf)

Related works:
Journal Article: Whence reform? A critique of the stiglitz perspective (2001)
Working Paper: Whence Reform? A Critique of the Stiglitz Perspective (2000)
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:ehl:lserod:20167

Access Statistics for this paper

More papers in LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library LSE Library Portugal Street London, WC2A 2HD, U.K.. Contact information at EDIRC.
Bibliographic data for series maintained by LSERO Manager ().