The transition of China and Ussr: A political economy perspective

Kumba Digdowiseiso

MPRA Paper from University Library of Munich, Germany

Abstract: This paper will focus on how the transition in China differs from that of USSR in terms of the Big Bang (shock therapy) and the Gradualist approach. While many econometric studies show that nations which apply both shock therapy and or gradualism end up at the same point, making the debate unnecessary, the author believes that gradualism was far more successfully implemented than the latter. When reforming the structure of the economy, it has to be remembered that a market based solution is a means not an end and it is more important “getting it right” than transitioning as fast as possible to ensure a level of playing field and long term sustainable growth.

Keywords: Transition; Reform; Economics; Politics (search for similar items in EconPapers)
JEL-codes: P11 P30 P51 (search for similar items in EconPapers)
Date: 2010-05-04
New Economics Papers: this item is included in nep-tra
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