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dc.contributor.authorPopov, Vladimiren_US
dc.date.accessioned2010-02-17en_US
dc.date.accessioned2011-04-26T07:41:25Z-
dc.date.available2011-04-26T07:41:25Z-
dc.date.issued2009en_US
dc.identifier.isbn978-92-9230-184-2en_US
dc.identifier.urihttp://hdl.handle.net/10419/45131-
dc.description.abstractWhy many transition economies succeeded by pursuing policies that are so different from the radical economic liberalization (shock therapy) that is normally credited for the economic success of central European countries? First, optimal policies are context dependent, they are specific for each stage of development and what worked in Slovenia cannot be expected to work in Mongolia. Second, even for countries at the same level of development, reforms needed to stimulate growth are different; they depend on the previous history and on the path chosen. The reduction of government expenditure as a share of GDP did not undermine significantly the institutional capacity of the state in China, but in Russia and other CIS states it turned out to be ruinous. It is the growth diagnostics that should reveal the missing ingredient for economic growth. Finally, and most important, introducing this missing ingredient should not result in the destruction of other preconditions for growth. The art of the policymaker is to create markets without causing the government failure, as happened in many CIS countries.en_US
dc.language.isoengen_US
dc.publisherUNU-WIDER Helsinkien_US
dc.relation.ispartofseriesResearch paper / UNU-WIDER 2009.15en_US
dc.subject.jelO43en_US
dc.subject.jelO57en_US
dc.subject.jelP27en_US
dc.subject.jelP52en_US
dc.subject.ddc330en_US
dc.subject.keywordtransitionen_US
dc.subject.keywordgrowth diagnosticsen_US
dc.subject.keywordpath dependenceen_US
dc.subject.stwSystemtransformationen_US
dc.subject.stwOsteuropaen_US
dc.subject.stwGUS-Staatenen_US
dc.titleLessons from the transition economies: Putting the success stories of the postcommunist world into a broader perspectiveen_US
dc.typeWorking Paperen_US
dc.identifier.ppn601795156en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

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