Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/209152 
Year of Publication: 
2018
Series/Report no.: 
Working Paper No. 909
Publisher: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Abstract: 
This inquiry argues that the successful completion of the transition process in the post-Soviet economies is constrained by the prevailing social structure and low levels of technological progress, both of which require institutional reforms aimed at increasing growth in national income, productivity, and the degree of export competitiveness. Domestic policy implementation has not shown significant improvements on these fronts, given its short-term orientation, but instead resulted in stagnating growth rates, continuously accumulating levels of external debt, and decreasing living standards. The key to a successful completion of the transition process is therefore a combination of policies targeted at the dynamic transformation of production structures within an environment of financial stability and favorable macroeconomic conditions.
Subjects: 
Transition Economies
Soviet Mode of Production
Technological Decay
International Capital Flows
External Instability
Debt Repayment
JEL: 
B25
F13
F34
G15
P30
Document Type: 
Working Paper

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