На пути к новой теории реформ

Towards a New Theory of Reform

Victor Polterovich
Authors registered in the RePEc Author Service: Виктор Меерович Полтерович

MPRA Paper from University Library of Munich, Germany

Abstract: Recent studies of processes of economic reforms testified that realization of liberal school recipes resulted in nonadequate losses. Basing on these studies,the author singles out a number of fundamental mistakes of the neoliberal conception. The neoliberals ignored costs of institutional transformations; they thought that creation of the market law framework was sufficient to form efficient institutions; they overestimated the role of macroeconomic policy to the detriment of institutional development; they did not consider possibilities of "institutional conflicts" as a result of institutional borrowing from other cultures; they did not take into account that efficient state is necessary for reforms to be successful. The theory of transition economies is now itself in transition to a new understanding of goals, possibilities, and technologies of reforms. Using the analysis conducted, the author outlines the most important directions of necessary transformations of Russian economic institutions.

Keywords: transformation costs; rent revenue; transplantation of institutions; privatization; government effectiveness (search for similar items in EconPapers)
JEL-codes: O10 P21 (search for similar items in EconPapers)
Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in Economics of Contemporary Russia 3 (1999): pp. 32-48

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