English, Article edition: On the theory of post-Communist economic transition to market Vladimer Papava

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Bookmark: http://trove.nla.gov.au/version/29086
Physical Description
  • article
Language
  • English

Edition details

Title
  • On the theory of post-Communist economic transition to market
Author
  • Vladimer Papava
Physical Description
  • article
Notes
  • Purpose – The paper investigates the utility of economic theory for post-Communist economic transformation. It serves to explain the main reasons for market reform failure in different post-Communist countries. Design/​methodology/​approach – A literature review suggests that after the collapse of the Communist system there was no economic theory of transition to market. Whenever one considers the transition of post-Communist economies to a market system (which, in fact, is nothing but post-Communist transition to capitalist economies), it has to be placed on record, as this kind of transition has no precedent in history. Findings – The main mistake of gradualists stems from their overlooking some very important conditions for successful transition: political guarantees and internal assets for reforms. And the success of shock therapy rests on the paradox, “the worse, the better”. Originality/​value – There is as yet no special economic theory of post-Communist transformation and it is just developing. This paper helps one to understand the main features of shock therapy and gradualism for designing the framework of such a theory. It is geared towards researchers and students interested in the theoretical aspects of the post-Communist economic transition to markets.
  • Capitalist systems, Economic change, Marxist economics
  • RePEc:eme:ijsepp:v:32:y:2005:i:1/​2:p:77-97
Language
  • English
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