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Toward Capitalism or Away from Russia?: Early Stage of Post‐Soviet Economic Reforms in Belarus and the Baltics

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  • Andrew Savchenko

Abstract

While at the start of systemic economic transformations in Eastern Europe, both indigenous reformers and Western observers tended to interpret the events as a rationally conceived and executed replacement of an economic system of inferior performance by another one whose superiority was proven, the developments that followed the disintegration of the Soviet polity did not support this view. Shortly after the former Soviet republics gained independence, they exhibited marked variations in speed and sometimes direction of market transformation that could not be satisfactorily explained within the framework of economic theories used by promoters of reforms. In this paper I compare the early stages of economic transformation in Belarus, where reforms were eventually abandoned, with the three Baltic states (Latvia, Lithuania, Estonia), which are the most successful emerging market economies among the former Soviet republics. In this comparison I will attempt to highlight non‐economic factors that might have contributed to this difference.

Suggested Citation

  • Andrew Savchenko, 2002. "Toward Capitalism or Away from Russia?: Early Stage of Post‐Soviet Economic Reforms in Belarus and the Baltics," American Journal of Economics and Sociology, Wiley Blackwell, vol. 61(1), pages 233-257, January.
    • Handle: RePEc:bla:ajecsc:v:61:y:2002:i:1:p:233-257
    DOI: 10.1111/1536-7150.00158
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    Cited by:

    1. Marina Bakanova, & Saul Estrin & Igor Pelipas & Sergei Pukovic, 2006. "Enterprise Restructuring in Belarus," William Davidson Institute Working Papers Series 823, William Davidson Institute at the University of Michigan.
    2. Bakanova, Marina & Estrin, Saul & Pelipas, Igor & Pukovich, Sergei, 2006. "Enterprise Restructuring in Belarus," IZA Discussion Papers 2148, Institute of Labor Economics (IZA).
    3. Christopher Rees & Galina Miazhevich, 2009. "Socio-Cultural Change and Business Ethics in Post-Soviet Countries: The Cases of Belarus and Estonia," Journal of Business Ethics, Springer, vol. 86(1), pages 51-63, April.
    4. Chiara Natalie Focacci & Mitja Kovac & Rok Spruk, 2022. "The perils of Kremlin's influence: evidence from Ukraine," Papers 2206.04950, arXiv.org.
    5. Liudmila Malyshava, 2018. "External Instability in Transition: Applying Minsky's Theory of Financial Fragility to International Markets," Economics Working Paper Archive wp_909, Levy Economics Institute.

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